Ancient India Ujjain Mandasor Malwa Region AE Karshapana, Horse Type circa 2nd-1st century BCE

Ancient India, Ujjain City, Mandasor Malwa Region, Anonymous AE Karshapana, Horse Type, circa 2nd–1st century BCE. Denomination: AE Karshapana, Metal: Coppe, Weight: 2.29 grams, Diameter: 15 × 14 mm, References: Pieper (2012 edition) 335, 347, 348 (similar types), Grade: As shown, Rarity: Rare, especially in the horse series.

Obverse: Horse standing to the right and facing a railed tree on the right; an Indradhvaja flanked by two taurines is placed above the horse. The composition is characteristic of the highly symbolic animal series of Ujjain coinage.

Reverse: Ujjain symbol, the distinctive four-armed/cross-like emblem associated with the ancient coinage of Ujjain.

Ujjain, one of the major urban and commercial centres of ancient Malwa, produced a distinctive series of anonymous copper coins during the post-Mauryan period. These issues are notable for their complex arrangement of animals, sacred symbols, railed trees, standards and the characteristic Ujjain symbol. The horse was one of the principal animals represented on Ujjain coinage, alongside the bull, elephant and lion. In ancient Indian culture the horse was associated with speed, strength, mobility, prestige and royal power, while the Indradhvaja and taurine symbols formed part of the wider religious and symbolic vocabulary of the period. The present type belongs to this fascinating animal series and can be placed approximately in the 2nd–1st century BCE, a period when Ujjain was an important centre of regional commerce and cultural activity. Comparable horse types are recorded by Wilfried Pieper, including Pieper 347 and 348.

Coinage Note: The horse series is considerably less frequently encountered than some of the more common bull and elephant types of Ujjain, making well-preserved examples particularly desirable to collectors of ancient Indian coinage. Pieper records several horse varieties ranging from fractional karshapanas to a full karshapana, demonstrating the diversity of this series. The combination of the horse, railed tree, Indradhvaja, taurines and Ujjain symbol gives these coins a distinctly local artistic identity. The present 2.29-gram specimen is a particularly interesting fractional example and is referenced through comparable varieties in Pieper 335, 347 and 348.