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1/2 Karshapana - Shivamitra

Issuer Panchala Kingdom (Janapadas (pre-Mauryan))
Year 200
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Reference(s) MACW 4509
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Reverse description The reverse bears a two-line Brahmi legend filling the central field, reading 'sivamitrasa' in the genitive case, identifying the issuing ruler Shivamitra of the Panchala kingdom. Above the inscription, a raised device — possibly a humped bull or animal figure — is discernible in the upper portion of the field, though heavily worn. The script is bold and deeply struck, with individual aksharas rendered in the early Brahmi style associated with northern Indian coinage of circa 200 BCE. The flan is irregular and the edge uneven, consistent with the hammered technique employed for this series.
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Mintage ND (200)
Additional information

Shivamitra was one of several local rulers operating in the Panchala region — roughly modern Uttar Pradesh — during a period when the Mauryan imperial structure had collapsed and successor powers had not yet consolidated. The punch-marked and cast copper issues attributed to these rulers represent the continuation of a coinage tradition that predates the Mauryas but persisted well into the post-Mauryan fragmentation. MACW 4509 is a catalogued reference within Mitchiner's system, though attribution of specific rulers within the Panchala series remains contested among specialists due to the overlapping use of symbols across dynastic lines.