6.6 Introduction of Coinage

Embedded from 6.5 Economic Growth › Economy emergence of coins during Mahajana

Embedded from 6.3 Rise of Urban Centres › Coins and Trade

• Gautama Dharmasutra refers to increased corporatisation. Terms in Buddhist texts viz Vinaya Pitaka such as shreni, nigama, puga, vrata etc show the emergence of guilds.
• Pali texts contain the first reference to coins words such as Kahapana, Nikkha, kamsa, pada, masaka and Kakanika.
• Punch marked coins most of them silver were discovered → qualitative change in economic transactions and long term implication for trade.
• Gahapati and Setthi emerged as new social elites during this period.