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Sometime around 600BC in the lower Ganges valley in eastern India a coin called a punchmarked Karshapana was created. [38] According to Hardaker, T.R. the origin of Indian coins can be placed at 575 BCE [39] and according to P.L. Gupta in the seventh century BCE, proposals for its origins range from 1000 BCE to 500 BCE. [25] According to Page.
By early 1830, the British had become the dominant power in India. The Coinage Act of 1835 provided for uniform coinage throughout India. The new coins had the effigy of William IV on the obverse and the value on the reverse in English and Persian. The coins issued after 1840 bore the portrait of Queen Victoria. The first coinage under the ...
1835 East India Company quarter anna, part of the unified coinage introduced that year 1840 East India Company rupee. It was minted in Bombay, Calcutta and Madras. The English East India Company was granted a royal charter by Queen Elizabeth I which allowed trade monopoly with eastern countries including Sumatra, Java, and India.
Early coinage made from metal came into use during the Axial Age in the Greek world, in northern India, and in China, as coins became a widespread embodiment of money. [2] Bronze, gold, silver and electrum (a naturally occurring pale yellow mixture of gold and silver that was further alloyed with silver and copper) were used.
The India Government Mint (ISO: Bhārata Sarakāra Ṭakasāla) operated four mints in the country for the production of coins: Mumbai, Maharashtra; Kolkata, West Bengal; Hyderabad, Telangana; Noida, Uttar Pradesh [1] The functions of the mint were replaced by the Security Printing and Minting Corporation of India in 2006.
New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of 1, 2, 5, 10, and 20 rupees. All of these are produced by four mints located across India, [2] in Kolkata, Mumbai, Hyderabad, Noida.
Coins produced thereafter ceased to carry the name of Emperor of India. Instead, coins produced in the Hyderabad Royal Mint were inscribed with name of the dynasty, initials of Nizam of Hyderabad and the numeral 92 (of Islamic religious significance; represents sum of symbolic numbers of the letters in Prophets and messengers in Islam).
Post-Mauryan coinage refers to the period of coinage production in India following the breakup of the Maurya Empire (321–185 BCE). The centralized Mauryan power ended during a Coup d'état in 185 BCE leading to the foundation of the Shunga Empire. The vast and centralized Maurya Empire was broken into numerous new polities.