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The Coinosseur, KOLKATA (2026)

24/06/2022

Of the many culturally significant centres of Indian antiquity in the post-Mauryan period, the Eran Vidisha region probably produced some of the finest punch marked coins that have been found so far. Incorporating various elements of daily life, pertaining to nature, religion and economy, the symbols most often found on these coins are the bull, horse, elephant, railed tree, a river with fishes and the Ujjaini symbol. In scarcer issues, we can also see the Indradhwaja and a human figure representing Lord Shiva.
Without a doubt, the region was the site of a flourishing civilization, located strategically near the Betwa river and its tributaries, while serving as a key junction on the trade route between Patliputra and Kaushambi.
Shown here is a very sharply struck coin from the Eran-Vidisha region, with the 5 different motifs accentuated through an overlay diagram.

17/05/2022

The desire to reclaim the Mughal homeland of Transoxiana had been deeply ingrained in the heart of every emperor that came after Muhammad Zahiruddin Babur. That being said, the only such strategic endeavour to accomplish the same happened during the reign of Shah Jahan, in the form of his famed Balkh/Badakshan campaign, over a hundred years after the Mughals migrated to India, leaving behind the green valleys of Ferghana, which saw the birth of the founder of their dynasty.
Strategically located in Central Asia, along the silk route, Balkh, in the past had been invaded by many great conquerors, ranging from Darius to Alexander to Genghis Khan and even Timur, whose descendant would finally begin the first-ever military advancement beyond the Hindu Kush mountains, in the history of India. Shah Jahan's first campaign in Balkh was led by his youngest son, Murad, who advanced into the city, taking full advantage of the internal strife in the Khanate of Bukhara, the then overlords of the city. In July, 1646, the Mughals occupied Balkh, taking the first step towards reclaiming their homeland. As time passed, the Mughal prince grew restless in the city and eventually returned back to Kabul. The army, demoralised and struggling to gather resources from the hostile populace, fell prey to the chilly winter of 1646-47, the harshest in a very long time. Angered and displeased, Shah Jahan stripped Murad of his mansab (rank) and his jaagir (land). A similar, but much more organized campaign would follow in the spring of 1647, led by the future emperor, Aurangzeb, but that, too, would result in failure, due to the lack of economic viability to sustain an army that far North, the constant threat of local plundering tribes and the looming threat of the Uzbek army. The historical campaign came to an end when Shah Jahan finally realised that the conquest of Transoxiana was nothing but a romantic dream for the Mughal Empire.
Shown here is a silver shahrukhi/misqal struck in the name of Shah Jahan during his Balkh campaign. First discovered in the 1990s, this coin gives concrete confirmation of the literary accounts of the Balkh campaign. In his 'Padshahnamah', Abdul Hamid Lahori states that these misqals were struck to the local standard. They consisted of silver mixed with copper and were exchanged at the rate of four to one rupee.

04/05/2022

Ivan IV Vasilyevich, known in English as Ivan the Terrible (Ivan Grozny) (25 August 1530– 28 March, 1584) was Grand Prince of Moscow from 1533. His long reign saw the conquest of the Khanates of Kazan, Astrakhan, and Siberia, transforming Russia into a multiethnic and multiconfessional state spanning almost 1 billion acres, growing during his term at a rate of approximately 130 square kilometers a day. Ivan oversaw numerous changes in the transition from a medieval nation state to an empire and emerging regional power, and became the first Tsar of a new and more powerful nation.
Historic sources present disparate accounts of Ivan’s complex personality: he was described as intelligent and devout, yet given to rages and prone to episodic outbreaks of mental illness. One notable outburst may have resulted in the death of his groomed and chosen heir Ivan Ivanovich, which led to the passing of the Tsardom to the younger son: the weak and possibly mentally re****ed Feodor I of Russia. His contemporaries called him "Ivan Grozny" the name, which, although usually translated as “Terrible”, is actually associated with might, power and strictness, rather than horror or cruelty.
Shown here is a silver kopek that was made from flattened pieces of silver wire.

Obverse: The Tsar as St. George on horse, killing dragon with spear in his right hand. Mint initial of the moscow mint below.
Reverse: Inscription ("Czar and Grand Prince Ivan of Entire Rus") in five lines. Circular broken line border around.

01/05/2022

With the term 'invader' and 'looter' being thrown around loosely and baselessly in terms of historical context, today, we often overlook a certain personality who fits the definition perfectly from an Indian perspective.
As founder of the Afsharid Empire of Persia, it is without doubt that Nadir Shah built a very capable and formidable army to counter his many nemeses beyond his borders, such as the Ottomans and the Afghan rebels to the far East. Among the major Islamic powers of that time, ie, Persia, the Ottomans and the Mughals, the latter was the richest and most bountiful, even though the Empire was weakened by wars of succession after Aurangzeb's death, followed by wars against the Marathas and frequent uprisings in Pashtun territory.
In order to successfully quell the Afghan rebels, Nadir asked the then Mughal ruler, Muhammad Shah 'Rangeela', to close Mughal borders around Kabul, to which the Mughal ruler took no action, instigating a war against the Persians. The battle-ready army of Nadir Shah eventually entered India without resistance, cutting through the Gandhar region, overruning the Mughal army easily at Khyber pass. Nadir eventually entered Delhi, and the keys to the city were surrendered to him by the Mughal emperor. Khutbah (prayers) were read in his name at the Jama Masjid and coins were also struck briefly. Eventually, conflicts and revolts would instigate the Shah to carry out a qatl-e-aam, a massacre of civilians, wherein over 20,000 Indian civilians, both Muslim and Hindu, would be killed. Before returning to Persia, Nadir Shah made sure he looted the fabled Mughal treasury as much as he could. Artefacts of legend, such as Shah Jahan's peacock throne, the Kohinoor diamond and the Darya-e-Noor diamond were among the ones stolen. The quantum of the loot was so great that it took over 40,000 animals to carry it to Iran, impoverishing India of its riches and eventually changing the course of Indian history. This huge setback to the Mughal empire brought to light a void in the existence of a central power in India, emboldening the British to eventually take over control of the empire and cement their position for the next two hundred years.

15/04/2022

Wishing everyone Shubho Noboborsho, a very happy Bengali New year. The celebration of this particular day dates back to the time of the Mughal emperor Akbar.
Under the Mughals, agricultural taxes were collected according to the Hijri calendar. However, as the Hijri calendar is a purely lunar calendar, it does not coincide with the harvest. As a result, farmers were hard-pressed to pay taxes out of season. In order to streamline tax collection, Akbar ordered a reform of the calendar. Accordingly, Fatehullah Shirazi, a renowned scholar and astronomer, formulated the Bengali year on the basis of the Hijri lunar and Hindu solar calendars. The new Fasli San (agricultural year) was introduced on 10/11 March 1584, but was dated from Akbar's ascension to the throne in 1556. The new year subsequently became known as Bônggabdo or Bengali year.
Celebrations of Pohela Boishakh started from Akbar's reign. It was customary to clear up all dues on the last day of Choitro. On the next day, or the first day of the new year, landlords would entertain their tenants with sweets. On this occasion there used to be fairs and other festivities. In due course the occasion became part of domestic and social life, and turned into a day of merriment. The main event of the day was to open a halkhata or new book of accounts. This was wholly a financial affair. In villages, towns and cities, traders and businessmen closed their old account books and opened new ones. They used to invite their customers to share sweets and renew their business relationship with them. This tradition is still practised, especially by jewellers.
Shown here is a coin of Akbar minted in the eastern province of the Mughal Empire, Bangla.
During that time, the Bengal Subah was the wealthiest province, not only in India, but also in the world, with a flourishing economy based on silk textiles, cotton, steel, saltpetre and shipbuilding.
The obverse reads: Sikka Bangala ze Dilkhwah shud, kaab Roshan zarb Akbar Shah shud, meaning, 'the coin of Bangla became pleasing from the fact that its honour lay in being struck by Akbar'.

13/04/2022

Not often does one come across a two thousand year old coin with the name of our beloved lord Krishna written on it in ancient Brahmi. One such coin, seen here was issued by the little known ruler of the Satavahana dynasty, all of whose coins are extremely rare.
Satavahanas, Kanha (Krishna) Satakarni, Copper Unit, Obverse: A lion facing left with Brahmi legend ’Kanasa’ above
Reverse: An elephant walking to right, a srivatsa and sw****ka symbol above and indradhwaja on the left
An appealing specimen with the full name of the ruler visible!
Kanha has been mentioned as "Krishna" in the Puranas. According to the Puranic genealogy, he was the brother of the first Satavahana king Simuka/Chhimuka. Historian Himanshu Prabha Ray assigns his reign to the period 100-70 BCE.

15/02/2022

Few names in India's freedom struggle resound with the pomp and grandeur as that of the Tiger of Mysore, Tipu Sultan. While he may have come into the limelight in recent times for reasons, largely related to religious bigotry, that doesn't discount his valiant efforts in the Anglo-Mysore wars, which made him known as one of the most feared adversaries of the British in Southern India.
Born to Haider Ali, a military general, who took over the throne of Mysore from the Wodeyars in a military coup, Tipu continued the legacy of his father as a successful military strategist. The fact that he was very well educated, could be seen in the variety of reforms and innovations that he brought about, such as expanding the silk industry, use of rockets in war, introducing a whole new currency system and calendar, etc.
An ally of the French, Tipu wrote to Napoleon after he arrived in Egypt, to which the latter replied, "You have already been informed of my arrival on the borders of the Red Sea, with an innumerable and invincible army, full of the desire of releasing and relieving you from the iron yoke of England". But this was never to be, since the French navy was routed by Lord Horatio Nelson at the battle of the Nile, preventing any future help from France. Eventually, in the fourth Anglo-Mysore war, the combined forces of the British, the Nizam of Hyderabad and the Marathas, along with the treachery of Tipu's own diwan, Mir Sadiq, brought the tiger down to his knees and he was slain in battle. The fall of Tipu was so significant for the British that general Harris, exclaimed, "Now India is ours!". After the war, the British reinstated the Wodeyar Dynasty to the throne of Mysore, but they were no longer an independent Kingdom, but had been reduced to a princely state, mere puppets of the British.
The Coinage of Tipu was very diverse, with a wide range of new nomenclatures such as imami (rupee), haidari (double rupee), etc added. He also issued gold pagodas, fanams, copper paisas and a host of other units. Shown here is a silver rupee (imami) and a gold fanam, both minted at Seringapattanam.

14/02/2022

Wishing everybody a very happy valentine's day! The language of love has undergone changes over the past few millennia, but the underlying emotion has always remained the same.
Today, we will look at what is possibly the earliest depiction of a couple on Indian coinage. Dating from second century BC Ujjain, this particular unit is popularly known as the divine couple or Mithuna type.
Obverse: Female and male figures standing side by side holding hands
Reverse: Ujjain symbol with taurine in each orb
The man and woman are believed to depict Mithuna, the divine couple in the Hindu equivalent of Gemini, the astrological sign. This is an important depiction in early Hinduism. Another school of thought insists that the couple depicted in this coin are Shiva and Parvati, since the coinage of ancient Ujjain is replete with Shaivite symbology. Either way, the affection shared by the couple has been captured in a timeless frame of memory, raising excitement and intrigue even after two thousand years!

06/02/2022

Understanding terminologies: Shroff marks

I'm sure many of us will have had a friend with the surname, Shroff, or Saraf at some point in our lives. Needless to say, we wouldn't have bothered with the origin of the name, which in fact, is quite interesting!
The word, Shroff, comes from the Urdu word, saraf, meaning a banker or a money lender, the very people through whose hands all the silver of antiquity passed through for commercial purposes.
During Mughal and pre-Mughal times, the practice of "batta" involved levying a fine on non-standardized currency, which involved a lot of effort on the part of the Sarafs, since they had to ensure that the coins entering or leaving the treasury was in line with standardized norms and none of them were dubious or of extraneous origin.
To demonstrate that the coin has passed through the hands of a Saraf and has been ratified by them, marks were made on it using chisels or other specialized instruments. These marks are known by a variety of names, such as shroff marks, countermarks, test marks, test cuts or bankers marks, and are mainly of three types.
The first type, generally consists of small geometric punches, as a testimony of verification, with various sarafs having their own designs for these small punches. The second kind involves large, deep chisel cuts, often used to denote cancellation, while the third kind consists of tiny hammered dots/pits, barely skin-deep, which was often useful in identifying if the material is actually silver and not copper coated with the same.
While the third kind of punches are present in coins of Mughals as well as other sultanates, the first two kinds of punches are mostly exclusive to the Bengal Sultanate, as can be seen in this example (highlighted in red) of the Bengal Sultan, Shams Al din Yusuf (1474-81).

21/01/2022

The history of Bengal has never been short of dramatic turns of events, which is probably why the desire for the same has been embedded into our very genes up to this very day! One such dramatic story is that of Danujamardana Deva/Raja Ganesh and his son, Jalal ud din Muhammad, who we will fondly call 'Jadu'.
While one may wonder why the religious faiths of the father and the son are not the same, that too, during a period in history that was, to say the least, 'conservative', the backstory behind this is far from mundane.
As a powerful landlord serving in the court of an earlier Bengal Sultan, Ghiyath al din Azam, Raja Ganesha took full advantage of the weakening Ilyas Shahi dynasty and took control of the Sultanate soon after. He reportedly persecuted the Bengali Muslim population, as a result of which the holy man, Nur Qutb Alam, wrote a letter to the Sultan of Jaunpur, Ibrahim Sharqi, requesting his intervention. Facing an imminent invasion, Raja Ganesha requested Nur Qutb to call it off, which the holy man agreed to, but under the condition that his son, Jadu, should convert to Islam and rule in his place.
For the next two years, 1415 and 1416, Jadu, now known as Jalal ud din Muhammad, ruled as the Sultan of Bengal. In 1416, when Nur Qutb died, Raja Ganesh deposed his own son, had him re-converted to Hinduism and himself ascended the throne as Danujamardana Deva, the first Hindu ruler of the Bengal Sultanate, striking coins in Bengali script across all of his kingdom. His rule was short lived, as he died, literally a couple of years later, following which Jadu/Jalaluddin converted yet again, to Islam and started his second reign as Sultan of Bengal, a position he maintained till his death in 1433. His remains are reportedly buried in Ekalakhi mosque in Pandua, pictured here.
The coin in question was struck during Jalaluddin's first reign. This broad and beautiful specimen dated AH 819, with 15 scallops on the reverse truly shows off the beauty of Bengal Sultanate Coinage.

15/01/2022

Having recently watched the series, 'The Empire', on Hotstar, wherein Kunal Kapoor and Dino Morea portray their roles as Babur and Muhammad Shaybani respectively, it was only prudent to highlight their glorified rivalry through a piece of numismatic evidence.
Interesting to note that while Babur was descended from both Tamerlane and Genghis Khan, his nemesis throughout his pre-Hindustan days, Muhammad Shaybani, was descended from Shiban, from the same lineage as Genghis Khan himself.
As a puppet pre-teen enthroned upon the seat of Ferghana, Babur was plagued by rebellion and moved his attention to Sarmarqand, which he captured after a long siege, but lost Ferghana in the interim and while attempting to recover it, his forces were ousted from Sarmarqand as well. Left without a kingdom, finally, when Babur managed to gather enough troops to retake Sarmarqand, which he did, successfully, he was challenged and defeated by Muhammad Shaybani and was only allowed to leave after a peace treaty wherein he had to give up his sister, Khanzada's hand in marriage to his rival. Roaming the mountains with no future prospect, fortune finally smiled upon Babur when he was able to capture Kabul, which was hitherto ruled by his paternal uncle, who died without any competent heir. Serving as a base where he would rebuild and replenish his resources, Babur formed alliances with Sultan Husayn Bayqara and Shah Ismail, founder of the Safavid Dynasty. Eventually, Ismail defeated and killed Muhammad Shaybani and reportedly fashioned his skull into an ornate drinking goblet, which he later sent to Babur as a token of appreciation. With Shaybani gone, Babur reclaimed Samarqand for a third time, but eventually set his eyes on Hindustan, as a means to distance himself from the Uzbeks and to find a new home for the lineage of Timur, and the rest, as we know, is history!
This particular coin was minted by Muhammad Shaybani, but reinforced with a counterstrike by Babur during his third reign as ruler of Samarqand, after Shaybani's death.

19/12/2021

Few rulers in world history suffered from mood swings with as far-reaching consequences as the second ruler of the Tughluq dynasty, Muhammad bin Tughluq.
Infamous for his unpopular and impulsive decisions, such as the massacre of Hindus in Kannauj and shifting the capital from Delhi to Daultabad, all his subjects lived in abject fear of him. But no decision was as disastrous and financially crippling for the Sultanate as Tughluq's introduction of token currency and its subsequent demonetization. While this may remind us of an event in recent memory, lack of control and regulatory measures in the 14th century made the situation far worse than it was in 2016.
Historically, after the barter system, people mostly used coins, usually made of precious metals like gold and silver, as currency. This system is known as commodity money. Since the metal in the coin itself had value, it was a rather stable system. However, it was stymied by shortages of precious metals. At some point in the seventh century, the Chinese invented modern-style paper money based on a system of conversion that allowed paper notes to be exchanged for gold, silver or silk. Called representative money, the system was so radical it took Europe another 1,000 years to use it. However, Tughlaq was the one sovereign who managed to implement this Chinese idea before the West. While it was a good idea on paper, it suffered from the major risk of forgery, to an extent that every house in the Tughluq Kingdom became a mint, mass producing Tankas, leading to hyperinflation, rendering the coins worthless. Since the policy backfired, Tughluq promised to compensate the brass tanka holders with gold and silver, but the sheer quantity of forged currency minted meant that the process would take many years.
Shown here are two variants of the silver tanka used during Tughluq's reign and at the bottom, a forged tanka, minted at Daultabad.

The Coinosseur

24/06/2022

17/05/2022

04/05/2022

01/05/2022

15/04/2022

13/04/2022

15/02/2022

14/02/2022

06/02/2022

21/01/2022

15/01/2022

19/12/2021

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