GOLD AND SILVER ARTICLES, COINS AND ORNAMENTS

Traditionally (from the 1930s), gold coins have been circulation coins, including coin-like bracteates and dinars. However, since the past decades, gold coins are mainly produced as bullion coins to investors and as commemorative coins to collectors. While modern gold coins are legal tender, they are not observed in everyday financial transactions, as the metal value normally exceeds the nominal value.

Silver coins are possibly the oldest mass-produced form of coinage. The earliest coins of India are the so-called punch-marked coins. These were small pieces of silver of a specified weight, punched with several dies, each carrying a symbol. These very early coins were issued at a point in time when India was still separated from the Greek world by Persia (Persia proper did not use silver coins at the time). The Sanskrit word rūpyakam (रूप्यकम्) means "wrought silver" or a coin of silver. The term could also be related to "something provided with an image, a coin," from rūpa "shape, likeness, image." The word rupee was coined by Sher Shah Suri, a renegade governor who broke off from the Mughal Empire during his short rule of northern India between (1540–1545). It was used for the silver coin weighing 178 grains. He also introduced copper coins called Dam and gold coins called Moher that weighed 169 grains. Later on, the Mughal Emperors standardized this coinage of tri-mentalism across the sub-continent in order to consolidate the monetary system.

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