The karshapana system predates the Mauryan dynasty itself, inherited from earlier janapada coinage traditions and then standardized under imperial administration — likely through the Arthashastra's meticulous treasury regulations, which specified acceptable weight tolerances for panas used in tax collection and trade. Mauryan punch-marked silver was produced not from a single centralized mint but through regional treasury operations, which accounts for the considerable variation in punch execution seen across surviving specimens.
The karshapana system predates the Mauryan dynasty itself, inherited from earlier janapada coinage traditions and then standardized under imperial administration — likely through the Arthashastra's meticulous treasury regulations, which specified acceptable weight tolerances for panas used in tax collection and trade. Mauryan punch-marked silver was produced not from a single centralized mint but through regional treasury operations, which accounts for the considerable variation in punch execution seen across surviving specimens.