Muhammad bin Tughluq's monetary experiments remain among the most disastrous in medieval Indian history. His forced introduction of token copper and brass currency in the 1330s — intended to replace gold and silver coinage — collapsed when the sultan failed to prevent mass counterfeiting, ultimately forcing him to redeem the debased tokens at face value in silver and gold, nearly bankrupting the treasury. The billon issues of his reign occupy an awkward transitional position within that broader monetary chaos.
The rati weight standard used here reflects pre-Sultanate Indian metrology still embedded in Delhi's minting practice.
Muhammad bin Tughluq's monetary experiments remain among the most disastrous in medieval Indian history. His forced introduction of token copper and brass currency in the 1330s — intended to replace gold and silver coinage — collapsed when the sultan failed to prevent mass counterfeiting, ultimately forcing him to redeem the debased tokens at face value in silver and gold, nearly bankrupting the treasury. The billon issues of his reign occupy an awkward transitional position within that broader monetary chaos.
The rati weight standard used here reflects pre-Sultanate Indian metrology still embedded in Delhi's minting practice.