1 Karshapana - Mahapadma Nanda

Mahapadma Nanda founded the dynasty that Greek sources later described as the most powerful force in the Indian subcontinent — powerful enough that Alexander's troops refused to advance further east at the Hyphasis in 326 BC, reportedly on account of the Nanda army's size. These punch-marked pieces predate that standoff by decades and circulated through the Magadha heartland as the empire absorbed rival janapadas one by one. The punching sequence — multiple dies applied in succession — means no two karshapanas from this period are struck identically.