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1/4 Karshapana

Issuer Mauryan Empire
Year 322 BC - 185 BC
Type Standard circulation coin
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Obverse description Flat silver flan bearing five punch-marked symbols applied individually by separate dies, including a solar symbol (sun with radiating rays), a reptile or lizard figure, and a spindle or reel motif, arranged across the surface of the coin without a fixed compositional order. The punch marks are characteristic of the Mauryan imperial coinage tradition, each symbol struck independently into the metal surface. The field is plain between the punches, and the irregular flan edges reflect the hand-cut preparation of the blank. No inscriptions or legends are present.
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Reverse description The reverse bears a single punch-marked symbol, identifiable as a spindle or reel motif, applied centrally to the flat silver surface by means of a small individual die. The punch is clearly impressed into the flan, showing the characteristic counter-mark technique used on Mauryan fractional silver coinage. The surrounding field is plain and unadorned, with no additional devices or inscriptions. The flan edges remain irregular, consistent with the hand-cut production method of the period.
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Additional information

The Mauryan punch-marked coinage system is among the oldest documented state-issued currency in South Asia, predating the better-known Greek influence on Indian numismatics. These fractional pieces circulated across an empire stretching from the Hindu Kush to Bengal, facilitating trade in a highly monetized economy that Greek ambassadors like Megasthenes described with evident surprise.

Authentication is the central challenge with this series. Forgeries and post-Mauryan imitations were produced in antiquity, and distinguishing genuine imperial issues from regional copies requires attention to punch placement and silver fineness rather than any single visual marker.