Money of the Masses : Copper Coin Production and Circulation in India 1500-1900

Next comes the circulation of this small change, important for monetary historians; and finally, the daily use, which points to social relations, their possibilities and restrictions, which is important for social and general historians.

Until very recently, the daily usage of coins by important parts of the population constituted an important indicator for the economic and social character of the society. Small denomination coins were produced and circulated primarily for the payment of wages, and of small purchases in market places and shops, where artisans and peasants offer their products. Frequent usage of small denomination coins thus allows us to characterise market societies as deeply monetised. This volume demonstrates that from the mid-sixteenth century Indian society was deeply monetized and in this respect it was not different from other major civilizations across Eurasia – from Western Europe via the West Asia to East Asia and back. In order to reach these conclusions, a detailed study of the production of small denominations (mainly copper) is offered here, which will interest coin collectors and numismatists.