🪙 The many coins of medieval Telangana
A journey from Punch-Marked coins to the Osmania Sicca
The monetary history of Telangana is a journey from metal weight to sovereign trust. It began with simple silver punch-marked coins, evolved into a sophisticated multi-metal system under the Satavahanas and Kakatiyas—anchored by the remarkable Gunja seed weight standard—and culminated in the modern Rupee introduced by Sher Shah Suri and refined by the Nizams.
- Ancient (700 BCE–200 BCE) Punch-Marked Coins Silver Karshapana & Satavahana Silver, Copper, Bronze, Lead and Potin (Silver and Copper) coins.
- Early Medieval (300–1000 CE) Vishnukundina & Chalukya Dramma.
- Imperial (1000–1323 CE) Kakatiya Gold Mada & Silver Ruka.
- Sultanate (14th–17th CE) Bahmani Tanka & Qutb Shahi Honu.
- Modern (18th–20th CE) Nizam's Hali Sicca to Osmania Sicca Rupee.
Before coins were stamped, before scales were standardized — there was the Gunja seed (also called Rati). A bright red seed with a black dot, harvested from a native climber in Telangana's scrub forests. Its remarkable property: every seed weighs almost exactly the same — about 0.11 grams.
⚠️ Note: The Gunja seed is poisonous if eaten. It was never used as food — only as a weight standard.
🏛️ Dynastic Evolution of Telangana Coinage
Asmaka Mahajanapada c. 700 BCE – 300 BCE
The Karshapana (Sanskrit: kārṣāpaṇa) was an ancient silver coin that served as one of the earliest standardized forms of currency in the Indian subcontinent, primarily used from around 600 BCE . The punch-marked coins were called "Kārṣāpaṇa" because they weighed one kārsha each.
A kārsha (or karṣa) is an ancient Indian unit of weight, primarily used for weighing precious metals like gold and silver. In the context of ancient currency (specifically punch-marked coins), one kārsha equals the weight of one Kārṣāpaṇa coin, which is generally defined as 80 ratti (also known as guñjā seeds)
The earliest phase of money in the Deccan. Part of the broader Punch-Marked Coin system of the Mahajanapadas, Asmaka ("stone country") used irregular silver sheets stamped with symbols like the sun, six-armed figures, and animals. These were valued by weight, not by face value.
The coins found in Telangana are typically silver punch-marked, with some identified as 1/2 karshapana 1.62g (16 rati seeds (1.3 to 2.0g)), exhibiting early Brahmi script and specific motifs like elephants, trees, and other symbols found in Bodhan (Nizamabad district) and Kotilingala (Karimnagar district)
Mauryan Empire in Telangana c. 300 BCE – 232 BCE
Imperial standard punch-marked coins dominated. Silver Karshapanas with five symbols (including the sun and the three-arched hill) became the template for Deccan coinage. Trade with the Gangetic plains standardized weights across the subcontinent.
Satavahana Dynasty c. 232 BCE – 208 CE
Ikshvakus of Vijayapuri c. 208 CE – 320 CE
Successors to the Satavahanas, they continued the lead and potin tradition but with new Shaivite motifs, notably the bull and trident. Their coins signal the shift from urban trade tokens to royal religious patronage symbols.
Vakataka & Vishnukundina Dynasties c. 340 CE – 611 CE
A crucial transitional phase. The Vishnukundinas introduced the Dramma terminology into the Telangana lexicon, borrowing from the Indo-Greco standard. Their coins feature a lion (their crest) with a curved tail, influencing later Chalukya designs.
Badami Chalukya & Rashtrakuta Dynasties 611 CE – 973 CE
During the pre‑Kakatiya period, the Dramma became firmly established as the primary unit for fines and revenue. The Era‑gadyana emerged for agricultural and spring festival dues (Peramani‑punnama).
- Koravi Inscriptions (c. 920 CE): Legal fines specified in drammas — 25 drammas for theft or adultery, 120 drammas for manslaughter.
- Melakunta (c. 992 CE): A gift of 70 drammas along with lands.
- Chilkur (c. 1067 CE): Shop tax (Angali Siddhaya) — one dramma from high‑grade shops, six from medium, forty‑four from low‑grade.
Kakatiya Dynasty c. 1151 CE – 1323 CE
The golden age of Telangana coinage. The Kakatiyas standardized a decimal system around the gold Mada and silver Ruka, creating the most sophisticated monetary framework in Deccan history.
Fractional Kakatiya Units
Kakatiya Judicial Fines & Penalties
The most detailed record of administrative fines comes from the Koravi Inscriptions (c. 920 CE), which established a "charter of privileges" and penalties for various crimes under the Kakatiya administration.
- Capital Punishment: For certain severe "criminal activities," men faced death or forfeiture of their jivita (means of livelihood).
- Political Treachery: Inscriptions warned that any person (chief or farmer) who joined an "alien king" (enemy) would be expelled from the village.
Kakatiya Trade Regulations & Market Levies
Trade was a vital revenue source, managed through specific taxes and custom duties recorded in commercial hubs like Warangal and Motupalli.
Custom Duties: A fixed rate of 1 in 30 was established for all exports and imports.
Luxury items: Sandalwood (1 pagoda ¼ fanam per tola), camphor & pearls (¾ fanam per pagoda value), silk (5½ fanams per bale).
Areca nuts: 25 nuts for every 100,000 sold.
Bulk goods: 1 mani (measure) on every cartload of grain, oil, or ghee.
Sandalwood & camphor: 1 pala per tula of sandalwood; 2 sinnas per visa of camphor.
Perfume dealers: one padika (¼ of a visa) on every mada.
Kakatiya Merchant Guild Contributions & Professional Taxes
Groups like the Virabalanja and Nanadesi often established voluntary taxes for religious merit.
- Karavadi (c. 1310 CE): Vendors and purchasers agreed to pay half a kasan on all goods and grain to the Ramanatha temple.
- Nagulapadu (c. 1303 CE): The 18 communities established a sliding scale: one mada per year for merchants (komatis), 16 sinnas for weavers, and 14 sinnas for shepherds.
Kandukuru (c. 1316 CE) Professional Taxes:
Post-Kakatiya Transition 1323 CE – 1518 CE
The Tughlaqs attempted to impose the Tanka and forced token currency, causing economic chaos. The Musunuri Nayaks and Recherla Nayaks revived local standards, while the Vijayanagara Empire (c. 1360–1551 CE) re-established the gold Varaha (Pagoda) standard. The Bahmani Sultanate (1350–1518 CE) introduced the Islamic Tanka and the Tola/Masha weight system, creating a hybrid monetary economy.
Post-Kakatiya Local Market Levies
- Karavadi Levy (c. 1310 CE): “Vendors and purchasers should give half a kasan on all their goods and grain” to Ramanatha temple.
- Kasula Savalakke: Territorial name for Medak region meaning “1.25 lakh Kasu country” — historical revenue assessment of 1.25 lakh Kasu.
Qutb Shahi Dynasty (Golconda) 1518 CE – 1687 CE
Under the Qutb Shahis, the gold Honu (or Hon) became the dominant high‑value standard. Persian inscriptions replaced royal emblems, and the "Sikka" (right to strike coins) became the symbol of sovereignty.
- Sanigaram (1676 CE): Farman from Sultan Abdullah Qutb Shah — grant of 540 honus for construction of a large irrigation tank.
- Mustaidpura Farman (1674 CE): 1,400 huns described as “the coin currently at the capital” for royal administrative expenses.
Mughal Empire & The Introduction of the Rupee (Rupiya) 1687 CE – 1724 CE
The transition to the "Rupee" as we know it today was a two-stage process that replaced the ancient Dramma and Mada standards with a silver-based weight system (the Tola).
🇮🇳 In India: Sher Shah Suri (1540–1545 CE)
The modern Rupee was first introduced by Sher Shah Suri, the founder of the Sur Empire in North India. He standardized the currency to create economic stability across the subcontinent.
- The Silver Rupiya: He issued a silver coin weighing 178 grains (approximately 11.5 grams).
- The Dam: A copper coin used for smaller transactions.
- Legacy: The Mughal Emperor Akbar later adopted this system, making the Rupee the official currency of the Mughal Empire, which eventually reached the Deccan.
🏛️ In Telangana: The Mughal & Asaf Jahi Transition
In the Telangana region, the Rupee arrived as the Mughal Rupee following the fall of the Qutb Shahis of Golconda in 1687 CE.
💡 Note: While Sher Shah Suri introduced the "Rupee" name and weight, the term Ruka (used in Kakatiya inscriptions) was the indigenous silver standard in Telangana centuries earlier. The Rupiya eventually merged these localized silver traditions into a single national standard.
Asaf Jahi Dynasty (Nizams) 1724 CE – 1948 CE
The British invasion introduced monetary hegemony, aiming to consolidate the "chaos" of hundreds of local coins into a single colonial system.
- The 1835 Coinage Act: Established the Company Rupee as the standard across India, effectively ending the medieval ratio systems.
- Hali Sicca (The Hyderabad Hybrid): While the British standardized their currency, the Nizams were permitted to keep the Hali Sicca ("Current Coin"), which remained legal tender until the early 1950s.
- End of the Gunja Standard: The ancient practice of weighing gold against seeds was replaced by Troy Ounces and Grains to align with global trade.
Medieval Physical Weight: Value was determined by the 40-Gunja weight of gold. If a coin was clipped, its value dropped.
Islamic Sultan's Authority: Value was tied to the ruler’s decree. Debasement (mixing copper into silver) became common during wars.
British Institutional Trust: The introduction of paper currency and the Gold Standard meant value was guaranteed by the central treasury/bank.
📊 Monetary Ratios & Metallic Standards (All Eras)
💡 Key Insight: The consistency of fines (e.g., 25 drammas for adultery, 120 for manslaughter) and the detailed tariff schedules for indigo, camphor, and cartloads of grain reveal a state‑backed legal framework that governed everything from violent crime to the sale of areca nuts. This sophisticated system, anchored by the Gunja seed, persisted for over a millennium before evolving into the modern Rupee.
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