In which metal was karshapana coins issued?
Karshapana coins were issued in a variety of metals. The correct answer is option 'E' which states that karshapana coins were issued in all of the above metals: copper, silver, gold, and lead.

Explanation:
Karshapana was the most commonly used coin in ancient towns. These coins were issued by various rulers and dynasties in the Indian subcontinent, starting from the 6th century BCE and continuing until the 6th century CE. The term "karshapana" is derived from the Sanskrit word "karsha" which means a measure of weight.

The issuance of karshapana coins in different metals can be attributed to the availability of resources and the economic policies of the ruling powers at different times and regions. Let's look at the metals in which karshapana coins were issued:

1. Copper:
Copper karshapana coins were the most prevalent and widely circulated. They were commonly used for everyday transactions and were minted by various kingdoms and empires such as the Mauryas, Sungas, Satavahanas, Kushanas, and Gupta Empire.

2. Silver:
Silver karshapana coins were also in circulation and held a higher value compared to copper coins. They were used for larger transactions and were issued by several rulers including the Indo-Greeks, Indo-Scythians, and Western Kshatrapas.

3. Gold:
Gold karshapana coins were relatively rare and had the highest value. They were issued by powerful rulers like the Kushanas and Gupta Empire. Gold coins were reserved for significant transactions and were often used for high-value trade.

4. Lead:
Lead karshapana coins were less common and had a lower value compared to other metals. They were issued by certain regional rulers and were used for smaller transactions.

Overall, the issuance of karshapana coins in different metals reflects the diverse economic landscape of ancient India. The availability of resources, the economic policies of the ruling powers, and the specific regional contexts influenced the choice of metal for minting karshapana coins.