Coinage
Also called: coins · Topic: Money: From Barter to Digital Currency · NCERT: Class 7, Ch 11 "From Barter to Money"
Meaning
Coinage means coins issued by rulers, made of precious metals (gold, silver) or of alloys, which are mixed metals. Coins were among the earliest forms of money. In ancient times, rulers fully controlled their making and issue. The coins of powerful rulers were trusted and accepted even in other kingdoms, and this helped trade between regions. Coins usually had an obverse (head, the main design) and a reverse (tail), with motifs such as animals, trees, kings or deities.
Example
The Chalukyas of Kalyana put Varaha, an avatar of Viṣhṇu, on one side of their coins and a three-tiered royal parasol on the other. Roman gold coins found at Pudukkottai (Tamil Nadu) and in Kerala show that Roman gold flowed into India to pay for Indian goods.
Don't confuse with
- Minting: coinage refers to the coins themselves. Minting is the process of making them.