Sangam Age: Coinage | History Optional for UPSC PDF Download

Introduction of Coins

• During this period, the introduction of coins, including those inscribed with the Tamil-Brahmi script, marked a significant innovation. Coins were used in various contexts, as evidenced by the discovery of coin hoards comprising both local and foreign issues. These findings attest to the trade relations that existed between ancient Tamil Nadu and other regions.
• Monica Smith noted that the distribution of coins with different weight standards across regions suggests their use as a standard of value and a medium of exchange.

Monetization and Urban Centers:

• Although a fully developed money economy had not yet emerged, the use of copper coins indicated a degree of monetization. The use of coinage may have been limited to urban centers or among certain traders.
• Coins could have functioned as a form of bullion, with their value fixed based on the weight of the metal.

Roman Coins and Trade

• Roman coins were often used for their bullion value, with coins from the time of Augustus Caesar being particularly common. These coins were likely favored due to their high metal content and quality.
• The concentration of Roman coins in the Coimbatore region of Kongu suggests the area's importance in trade activities. Later Roman coins are found more frequently in southern India and Sri Lanka.
• Roman coins were also possibly used as ornaments during this period, as indicated by indirect references in Tamil literature.

Trade and Coin Usage:

• Trade based on coins was prevalent, with traders from distant regions amassing wealth in metal. While various materials were traded, profits were ultimately converted into metal wealth.
• The use of coins facilitated long-distance travel and the acquisition of wealth in easily transportable metal form.

Pyramidical Mode of Exchange:

• Coins may have represented fixed value units used primarily for significant transactions by a limited number of people, possibly traders and kings.

Local Coinage of Sangam

Introduction to Local Coins

• Local coins during the Sangam period likely held value based on their metal content. Kings might have minted these coins by smelting copper, and such coins could have been used for donations.

Types of Coins:

• Various types of coins, including punch-marked coins, Chera coins, Chola coins, Pandya coins, and Malayaman coins, were found throughout Tamil Nadu.
• Sangam literature mentions different types of coins such as kasu,pon, and kanam. Notably, kasu was sometimes used as an ornament rather than for commercial transactions.

Examples of Coin Donations

• Chief Kalankaikkanni Narmuticcheral donated 40,00,000 gold coins to Kappiyarry kappiyanar.
• Another chief, Atukotpattu Cherlathan, gave 100,000 kanam of coins to Kakkaippatiniyar.

Standardization and Authority:

• The coins likely had standard shapes and weights, which helped to legitimize the authority of the kings.