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Coins Used in Ancient Rajasthan During the Kings' Rule
The Business Guardian
|September 12, 2025
Rajasthan, the land of kings, warriors, and grand forts, has a rich history of commerce and governance that is intricately tied to its numismatic legacy.
 The coins used in ancient Rajasthan offer not just economic insights but also cultural, political, and artistic glimpses into the region's glorious past. From the early tribal republics and Mahajanapadas to the mighty Rajput kingdoms and the influence of Muslim rulers, the coins of Rajasthan evolved significantly over centuries. This article explores the types, significance, and evolution of coins used during the rule of various dynasties in ancient Rajasthan.
Early Coinage in Rajasthan (600 BCE - 300 CE)
The earliest coins found in Rajasthan date back to the Mahajanapada period (600-300 BCE), when parts of eastern Rajasthan were under the rule of powerful republics like Matsya and Surasena. The coins from this era were primarily punch-marked coins made of silver, which were also common across much of northern India. These coins had multiple symbols punched onto them using small stamps. The marks often included geometric designs, the sun, trees, animals, and religious symbols. These were not issued by individual kings but by local authorities or merchants' guilds and served as standardized mediums of exchange.
Coins of the Maurya and Post-Mauryan Periods
During the Mauryan Empire (322-185 BCE), Rajasthan became a part of the imperial economic network. The Mauryan silver punch-marked coins were used widely and continued the earlier tradition but with more uniformity and central control.
After the fall of the Mauryas, Rajasthan saw the emergence of Indo-Greek and Indo-Scythian influences in the northwestern regions. Coins from this period show Hellenistic features—portraits of kings on one side and Greek inscriptions. These coins, typically made of silver and copper, entered Rajasthan through trade and conquest.
Gupta Period and Regional Kingdoms (320-600 CE)
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