Identify the correct statements related to ‘Coins and Kings’.
(A) The first gold coins were issued by the Kushanas.
(B) Punch-marked coins were made of silver and copper.
(C) Coins were also issued by tribal republics such as that of the Yaudheyas of Punjab and Haryana.
(D) From the 5th century CE onwards, finds of gold coins taper off.
(E) The first coins to bear the names and images of rulers were issued by the Mauryas.

Choose the correct answer from the options given below :
(1) (D), (A), (E) Only
(2) (A), (B), (C) Only
(3) (B), (C), (D) Only
(4) (E), (A), (B) Only

2

The statements (A), (B), and (C) are correct.

In reference to the ancient Indian history: Punch-marked coins made of silver and copper (c. sixth century BCE onwards) were amongst the earliest to be minted and used. These have been recovered from excavations at a number of sites throughout the subcontinent. Numismatists have studied these and other coins to reconstruct possible commercial networks. Attempts made to identify the symbols on punch- marked coins with specific ruling dynasties, including the Mauryas, suggest that these were issued by kings. It is also likely that merchants, bankers and townspeople issued some of these coins. The first coins to bear the names and images of rulers were issued by the Indo-Greeks, who established control over the north-western part of the subcontinent c. second century BCE. The kushanas, however, issued the largest hoards of gold coins first gold coins c. first century CE. These were virtually identical in weight to those issued by contemporary Roman emperors and the Parthian rulers of Iran, and have been found from several sites in north India and Central Asia. The widespread use of gold coins indicates the enormous value of the transactions that were taking place. Besides, hoards of Roman coins have been found in archaeological sites in south India. It is obvious that networks of trade were not confined within political boundaries: south India was not part of the Roman Empire, but there were close connections through trade. Coins were also issued by tribal republics such as that of the Yaudheyas of Punjab and Haryana (c. first century CE). Archaeologists have unearthed several thousand copper coins issued by the Yaudheyas, pointing to the latter’s interest and participation in economic exchanges. Some of the most spectacular gold coins were issued by the Gupta rulers. The earliest issues are remarkable for their purity. These coins facilitated long-distance transactions from which kings also benefited. From c. sixth century CE onwards, finds of gold coins taper off. Does this indicate that there was some kind of an economic crisis? Historians are divided on this issue. Some suggest that with the collapse of the Western Roman Empire long-distance trade declined, and this affected the prosperity of the states, communities and regions that had benefited from it. Others argue that new towns and networks of trade started emerging around this time. They also point out that though finds of coins of that time are fewer, coins continue to be mentioned in inscriptions and texts.