is doubtless from what is later described
Cotton-textiles and iron swords are especially remarked upon in Greek
sources and remained associated with Indian trade for many centuries. More
specialised items were woollen blankets from the north-west, particularly
Gandhara, ivory which was then abundant in the forests of the Ganga valley
and the Himalayan foothills, and horses which came from Sind and Kamboja,
and of which, the chief market seems to have been at Kasi.
  The use of coined money is more frequently associated with urban centres,
  while the rural settlements hardly provide evidence of coins at this level.
  The coin of highest value in circulation was the silver satamana but the
  more standard coin was the silver karshapana and the copper masha and
  kakani. The karshapana is said to equal to sixteen mashas and was
  divided into a half (ardha or addha) and a quarter (pada). The kakani was
  half a masha and the smallest denomination was the ardha-kakani. The
  karshapana or kahapana of the Pali texts is also called the pana
Features of Currency Punch-marked coins carry symbols which were the
identification of the issuing authority, the combination and variety of symbols
differing according to provenance and issuing authority. The issuing
authority could either have been trading groups backed by the rajas of their
lineage and identified by particular symbols, or professional groups affluent
enough to issue their own coins. But it is not yet certain whether punch-
marked coins were issued by any royalty. Punch-marked coins were
therefore, a transitional form between traders’ tokens as units of value and
legal tender issued by royalty. The backing of coins by the state is not
referred to until the Arthasastra.