1/2 Pagoda - Devaraya I

Devaraya I's reign was defined almost immediately by military pressure — the Bahmani Sultanate under Firuz Shah Bahmani defeated him in 1406, extracting a humiliating treaty that included the cession of the Tungabhadra doab and a forced matrimonial alliance. Gold coinage continued to flow from Vijayanagara's mints throughout, partly because the empire's control over the Deccan trade routes and the Bellary gold-producing region gave it bullion reserves that political setbacks alone could not drain.

The half pagoda denomination served actual transactional use in market trade rather than functioning purely as a prestige issue.