History • Ancient IndiaHard
Consider the following statements regarding the evolution of coinage and monetary exchange in ancient Tamilakam: 1. Indigenous punch-marked silver and copper coins circulating in the early Sangam period bore distinct dynastic emblems such as the tiger, bow, and fish belonging to the Chola, Chera, and Pandya rulers. 2. Roman gold aurei and denarii discovered in copious hoards across Coimbatore and Madurai districts were widely accepted in domestic retail markets without being melted down or reissued. 3. The availability of diverse coinage indicates a monetized market economy operating alongside traditional barter systems in urban trading centers and ports. Which of the statements given above are correct?
A. 1 and 3 only✓ Correct Answer
B. 2 and 3 only
C. 1 and 2 only
D. 1, 2 and 3
💡 Solution & Explanation
Coinage in ancient Tamilakam reflected a vibrant trade-oriented economy. Punch-marked coins bearing symbols of the Tamil crowns alongside indigenous die-struck copper coins confirm local monetary circulation. However, statement two is inaccurate because while Roman gold and silver coins poured in through maritime trade, a significant portion of these foreign coins were defaced, pierced, or melted down to be restamped into native currency or used as bullion, though some circulated intact among foreign merchants. Monetization coexisted with barter across rural hinterlands.
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