The Buddhist texts use the term KahÄpana (KÄrshÄpana) for a coin. They are familiar with its varieties called Nikkha (NiáčŁka) and Suvaráča of gold, silver, bronze and copper pieces called KÄmsa, PÄda, MÄsaka, KÄkanika, KÄrshÄpana, etc. But their value varied with time and place.
One of the most remarkable features of the period is the introduction of a regular system of coinage in business transactions. Inspite of the fact that the age-old system of barter had not altogether passed away but gradually coins were introduced as media of exchange. Moreover, the gold and silver dust were also used.
Large number of coins in gold, silver, copper and in other metals have been found from different parts of India. They are the most important source so far as the economic history of India is concerned.
The period from sixth century B.C. to fourth century A.D. represents a crucial phase in Indian history. It is in this period that the impact of âsecond urbanisationâ was felt in India. This period witnessed the rise of Buddhism and Jainism, formation of early states, emergence of an imperial system, development of caste and class distinctions, intensification of inland and overseas trade, emergence of numerous urban centres and expansion of agriculture with the effective use of iron technology and the adoption of Brahmi script.
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