Which one of the following statements about coins struck during 200 BC

Which one of the following statements about coins struck during 200 BCE to 300 CE in the Indian subcontinent is not correct?

The Indo-Greeks introduced bilingual and biscript legends on their coins.

The Kushanas minted large quantities of gold coins as well as copper coins of low denomination.

The Satavahanas issued coins of silver, copper, lead and potin.

Absence of Negama coins suggests the declining power and authority of merchant guilds.

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UPSC CAPF – 2022

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The correct answer is D) Absence of Negama coins suggests the declining power and authority of merchant guilds.

While Negama (or Nigama) coins issued by merchant guilds or towns were prominent in the pre-200 BCE period, their prevalence declined significantly during the period 200 BCE to 300 CE with the rise of powerful centralized kingdoms (Indo-Greeks, Kushanas, Satavahanas) that issued their own standardized coinage. However, stating that their “absence” (implying complete disappearance) occurred and *definitively* suggests a general “declining power and authority of merchant guilds” is likely incorrect or an oversimplification. Merchant guilds continued to be important economic actors during this period, even if their role in currency issuance changed or diminished. The decline in guild-issued coinage might reflect the state asserting greater control over currency rather than a complete collapse of guild power.

A) The Indo-Greeks were among the first to introduce bilingual (Greek and Prakrit) and biscriptal (Greek and Kharoshthi) legends on their coins, which is historically accurate.
B) The Kushanas are well-known for issuing a large volume of gold coins, especially under rulers like Kanishka, and also produced various denominations of copper coinage. This statement is correct.
C) The Satavahanas issued coins in various metals. Lead was a commonly used metal for their coinage, along with potin (an alloy), copper, and silver. This statement is correct.

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