{ "id": "epb45d4sjx", "slug": "pana", "title": "Pana", "updated": "2026-09-30", "topic_path": [ { "id": "society", "label": "Society and history", "api_url": "https://www.edgepedia.org/api/v1/topics/society" }, { "id": "society.history", "label": "History and archaeology", "api_url": "https://www.edgepedia.org/api/v1/topics/society.history" }, { "id": "society.history.asia", "label": "Asian history", "api_url": "https://www.edgepedia.org/api/v1/topics/society.history.asia" }, { "id": "society.history.asia.india", "label": "India and South Asia", "api_url": "https://www.edgepedia.org/api/v1/topics/society.history.asia.india" }, { "id": "society.history.asia.india.maurya", "label": "Maurya Empire (322 to 185 BC)", "api_url": "https://www.edgepedia.org/api/v1/topics/society.history.asia.india.maurya" }, { "id": "society.history.asia.india.maurya.administration-economy-and-religion", "label": "Administration, economy, and religion", "api_url": "https://www.edgepedia.org/api/v1/topics/society.history.asia.india.maurya.administration-economy-and-religion" } ], "geo": [ { "id": "geo.ind.t500.society.history.asia.india.maurya", "label": "India · 500 BC to AD 999: Maurya Empire (322 to 185 BC)", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society.history.asia.india.maurya", "path": [ { "id": "geo.ind", "label": "India", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind" }, { "id": "geo.ind.t500", "label": "India · 500 BC to AD 999", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500" }, { "id": "geo.ind.t500.society", "label": "Society and history", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society" }, { "id": "geo.ind.t500.society.history", "label": "History and archaeology", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society.history" }, { "id": "geo.ind.t500.society.history.asia", "label": "Asian history", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society.history.asia" }, { "id": "geo.ind.t500.society.history.asia.india", "label": "India and South Asia", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society.history.asia.india" }, { "id": "geo.ind.t500.society.history.asia.india.maurya", "label": "Maurya Empire (322 to 185 BC)", "api_url": "https://www.edgepedia.org/api/v1/geo/geo.ind.t500.society.history.asia.india.maurya" } ] } ], "excerpt": "The pana (पण), also called the karshapana, was an ancient Indian silver coin, the standard unit in which Mauryan prices, tolls, and fines were reckoned.", "snippet": "The pana (पण), also called the karshapana, was an ancient Indian silver coin, the standard unit in which Mauryan prices, tolls, and fines were reckoned.", "node": "society.history.asia.india.maurya.administration-economy-and-religion", "markdown": "# Pana\n\nThe pana (पण) was a denomination of ancient India, listed among the monetary units prescribed in the [Arthashastra](https://www.edgepedia.org/arthashastra), the treatise on statecraft ascribed to Kautilya ([Chanakya](https://www.edgepedia.org/chanakya), also named Vishnugupta) and dated by its translators to the period 321–296 BC; the name is also applied to historically attested punch-marked silver karshapana coins, though these were not a single consistently standardized issue.[1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) • [2](http://www.indianscience.org/essays/t_es_tiwar_metrology.shtml) • [3](https://www.researchgate.net/publication/400299479_Punch-Marked_Coins_A_Historical_and_Numismatic_Study_of_Early_Indian_Currency) • [4](https://www.projectulooka.com/post/swacch-bharat-in-the-kautilyan-state-arthashastra) According to the numismatic reference tradition, the pana, also called the karshapana, was based on the weight of eighty rati seeds, equivalent to 144 grains, or nearly nine and a half grammes, though surviving punch-marked karshapana coins discussed below weigh only about 3.4 to 3.5 grammes; the name, like the [Greek drachma](https://www.edgepedia.org/greek-drachma), means a \"handful\" and derives from pani, the hand.[5](https://nnp.wustl.edu/library/dictionarydetail/511560) The pana served as the unit in which prices, tolls, and fines were reckoned.[1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) • [6](https://www.transliteral.org/pages/z110824143155/view)\n\n| Fact | Detail |\n|---|---|\n| Text prescribing the system | Arthashastra of Kautilya, dated 321–296 BC[1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) |\n| Standard coin | Silver pana (karshapana), about 70 rati seeds, about 9.5 g, per the Newman Numismatic Portal[5](https://nnp.wustl.edu/library/dictionarydetail/511560) |\n| Silver denominations | The pana and the ardha-pana (half pana)[7](https://www.siva.sh/arthashastra/adhyaksa-pracara/12/24) • [3](https://www.researchgate.net/publication/400299479_Punch-Marked_Coins_A_Historical_and_Numismatic_Study_of_Early_Indian_Currency) |\n| Copper subdivisions | Mashaka, half mashaka, kakani, half kakani[7](https://www.siva.sh/arthashastra/adhyaksa-pracara/12/24) • [4](https://www.projectulooka.com/post/swacch-bharat-in-the-kautilyan-state-arthashastra) |\n| Copper-to-silver relation | The mashaka was worth one-sixteenth of a silver pana[8](https://englishcuriosity.com/economic-conditions-of-mauryan-india) • [13](https://www.academia.edu/68020283/A_Group_of_Maurya_Punchmarked_Coins_Including_Mashakas) |\n| Enforcement | Stamping of weights and measures required; fines of 27¼ panas for unstamped measures[9](http://raoinseattle.com/library/18%20Arthashastra/Arthashastra%20of%20Kautilya%20on%20weights.pdf) • [1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) |\n\n## Origin: author and date\n\nThe pana system is prescribed in the Arthashastra, which ascribes itself to the Brahman Kautilya, also named Vishnugupta and Chanakya; the English translation dates the text to the period 321–296 BC, and Kautilya is supposed to have been a courtier of the Mauryan king.[1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) • [2](http://www.indianscience.org/essays/t_es_tiwar_metrology.shtml) The text reflects the Mauryan state, but it was added to over later centuries, so its precise dating is debated and not every detail can be tied to Mauryan practice.[10](https://digitallylearn.com/history/mauryan-administration-and-economy/) \n\n## Contents: denominations and values\n\nThe silver denominations included the pana and the ardha-pana (half pana).[7](https://www.siva.sh/arthashastra/adhyaksa-pracara/12/24) • [3](https://www.researchgate.net/publication/400299479_Punch-Marked_Coins_A_Historical_and_Numismatic_Study_of_Early_Indian_Currency) Copper coins (tamrarupa) were the mashaka, half a mashaka, kakani, and half a kakani.[7](https://www.siva.sh/arthashastra/adhyaksa-pracara/12/24) The mashaka was worth one-sixteenth of a silver pana.[8](https://englishcuriosity.com/economic-conditions-of-mauryan-india) • [13](https://www.academia.edu/68020283/A_Group_of_Maurya_Punchmarked_Coins_Including_Mashakas)\n\n## Implementation: minting, stamping, and fines\n\nThe system was carried out through state superintendents (adhyakshas) who headed departments including the mint, commerce, and weights and measures, showing close state direction of the economy.[10](https://digitallylearn.com/history/mauryan-administration-and-economy/) To ensure fair trade, weights and measures had to be periodically stamped by the superintendent; the superintendent charged four mashas for stamping, and use of unstamped weights or measures drew a fine of 27¼ panas.[9](http://raoinseattle.com/library/18%20Arthashastra/Arthashastra%20of%20Kautilya%20on%20weights.pdf) • [1](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html) \n\n## Political influence\n\nThe pana system underpinned Mauryan monetary administration. The medium of exchange in the Mauryan economy was the punch-marked silver karshapana or pana and its copper fractions, stamped with symbols rather than legends.[10](https://digitallylearn.com/history/mauryan-administration-and-economy/) [Punch-marked coins](https://www.edgepedia.org/punch-marked-coins), the earliest standardized currency of the [Indian subcontinent](https://www.edgepedia.org/indian-subcontinent), circulated from approximately the 6th century BCE to the 2nd century CE, issued first by Janapadas and later by the Magadhan, Nanda, and Mauryan dynasties; archaeological evidence including over two hundred hoards shows a distribution spanning present-day India, Pakistan, Afghanistan, Sri Lanka, and Bangladesh.[12](https://socialsignsreivew.com/index.php/12/article/view/478) \n\n## Reception and assessment\n\nAncient literary sources including the Arthashastra, Panini's Ashtadhyayi, and [Buddhist texts](https://www.edgepedia.org/buddhist-texts) reference denominations such as karshapana, pana, ardha-pana, masaka, and kakini, reflecting a diversified monetary system.[13](https://www.academia.edu/68020283/A_Group_of_Maurya_Punchmarked_Coins_Including_Mashakas)\n\nThe numismatic reference tradition gives the pana as eighty rati seeds, or 144 grains.[5](https://nnp.wustl.edu/library/dictionarydetail/511560) Other scholarship states that Magadhan and Mauryan five-mark coins adhere to a 32-ratti standard, weighing a quarter suvarna of about 3.43 g with the ratti at about 0.107 g.[14](https://www.orientalnumismaticsociety.org/archive/ONS_241.pdf) The Dumraon Hoard of silver karshapana coins, attributable to the Magadha mahajanapada and datable to 550–500 BCE, shows 4-symbol coins of about 3.5 g forming a transitory phase before the 5-symbol Series I karshapanas circulated widely as Magadha conquered adjoining janapadas.[14](https://www.orientalnumismaticsociety.org/archive/ONS_241.pdf)\n## References\n\n1. [The Superintendent of Weights and Measures, Arthashastra of Kautilya (English translation)](https://www.wisdomlib.org/hinduism/book/kautilya-arthashastra/d/doc366065.html)\n2. [Metrology in Artha-sastra](http://www.indianscience.org/essays/t_es_tiwar_metrology.shtml)\n3. [Punch-Marked Coins: A Historical and Numismatic Study of Early Indian Currency](https://www.researchgate.net/publication/400299479_Punch-Marked_Coins_A_Historical_and_Numismatic_Study_of_Early_Indian_Currency)\n4. [Swacch Bharat in the Kautilyan State | Arthashastra](https://www.projectulooka.com/post/swacch-bharat-in-the-kautilyan-state-arthashastra)\n5. [Newman Numismatic Portal at Washington University in St. Louis](https://nnp.wustl.edu/library/dictionarydetail/511560)\n6. [अर्थशास्त्रम् अध्याय ०२, भाग २१, TransLiteral Foundations](https://www.transliteral.org/pages/z110824143155/view)\n7. [Arthashastra, Book 2, Chapter 12, Verse 24, The Superintendent of the Mint](https://www.siva.sh/arthashastra/adhyaksa-pracara/12/24)\n8. [Economic Conditions of Mauryan India](https://englishcuriosity.com/economic-conditions-of-mauryan-india)\n9. [Kautilya's Arthashastra, on weights and measures](http://raoinseattle.com/library/18%20Arthashastra/Arthashastra%20of%20Kautilya%20on%20weights.pdf)\n10. [Mauryan Administration and Economy](https://digitallylearn.com/history/mauryan-administration-and-economy/)\n11. [अर्थशास्त्रम्, देववाणी](https://va.devwani.org/index.php/vedic-education/vedic-education/echonomic-education)\n12. [Punch-Marked Coins: A Historical and Numismatic Study of Early Indian Currency, Journal of Social Signs Review](https://socialsignsreivew.com/index.php/12/article/view/478)\n13. [A Group of Maurya Punchmarked Coins, Including Mashakas](https://www.academia.edu/68020283/A_Group_of_Maurya_Punchmarked_Coins_Including_Mashakas)\n14. [Oriental Numismatic Society journal (Autumn 2020), Dumraon Hoard of silver karshapana coins](https://www.orientalnumismaticsociety.org/archive/ONS_241.pdf)\n\n---\n*Topic: Encyclopedia › Society and history › History and archaeology › Asian history › India and South Asia › Maurya Empire (322 to 185 BC) › Administration, economy, and religion*\n\n*Initially written Sep 23, 2026 · Reviewed: Sep 30, 2026 · Edited: Sep 30, 2026 · Last review: Sep 30, 2026*\n\n*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*\n\nLicense: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license\n", "same_as": [], "url": "https://www.edgepedia.org/pana", "markdown_url": "https://www.edgepedia.org/pana.md", "license": { "name": "Edgepedia Community License 1.0", "url": "https://www.edgepedia.org/edgepedia/license", "summary": "Free with credit, commercial use included. AI training is open to everyone. For other uses, organizations over USD 100M in revenue or 100M monthly users license separately.", "spdx": "LicenseRef-Edgepedia-Community-1.0" }, "credit": "\"Pana\", Edgepedia (EdgeChat), https://www.edgepedia.org/pana. Edgepedia Community License 1.0.", "credit_md": "\"[Pana](https://www.edgepedia.org/pana)\", Edgepedia (EdgeChat), [https://www.edgepedia.org/pana](https://www.edgepedia.org/pana). [Edgepedia Community License 1.0](https://www.edgepedia.org/edgepedia/license).", "credit_html": "\"Pana\", Edgepedia (EdgeChat), https://www.edgepedia.org/pana. Edgepedia Community License 1.0.", "speakable": "The pana, also called the karshapana, was an ancient Indian silver coin, the standard unit in which Mauryan prices, tolls, and fines were reckoned." }