The Myth of the Vākātaka Coins

Till recently no coins of the Vākātakas themselves were known and it was believed that they did not issue their own coins. But of late, Ajay Mitra Shastri has attributed two copper coins to Narendrasena and one copper coin to Prthivīshena and, more recently Prashant P. Kulkarni has attributed one copper coin to Pravarasena. But the author of the present article differs with these scholars and observes that the question of the existence of the currency of an extensive kingdom, as that of the Vākātakas, cannot be decided by one or two copper coins. According to him, no credence should be given to such coins unless they are obtained from regular archaeological excavations and their authenticity is proved by detailed investigation. He is of the view that a study of the known inscriptions of the Vākātakas indicates the comparative paucity of coins resulting in the large-scale mechanism of land-grants, growth of small village settlements and relatively declining urban economy.