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1 Karshapana - Magadha Janapada

Issuer Magadha Janapada
Year 500 BC - 400 BC
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Shape Round (irregular)
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Obverse description Obverse struck with multiple punch marks in the tradition of early Indian punchmarked coinage, featuring a solar symbol (sun with rays) in the lower right field, an elephant in the upper central field, a deer or antelope, a snake, and a taurine symbol, each applied individually by separate punches. The devices are distributed across the flat silver flan without a defined border, characteristic of Magadha Janapada issues of the pre-Mauryan and early Mauryan period. The symbols are rendered in a schematic yet recognizable style, deeply impressed into the irregular flan.
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Mintage ND (500 BC - 400 BC)
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Among the earliest coinage produced in the Indian subcontinent, Magadha punch-marked silver issues predate the Nanda and Maurya dynasties that would later dominate the region — struck at a time when Magadha was still one of several competing Mahajanapadas rather than the uncontested imperial power it became. The karshapana weight standard, approximately 3.2 grams, was likely derived from a grain-based measure and persisted with remarkable consistency across centuries of political upheaval.

Attribution to specific issuing authorities within this period remains genuinely difficult. The ACR reference provides a typological anchor, but individual punch sequences on these coins are still debated among specialists.

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