The Coins of Akbar, the Great Mogul

The Moguls started their reign in India in the year 1526 CE. Babur, the founder of the Mogul rule defeated the reigning Sultan of Delhi and established his rule. From 1526 to 1857, the Mogul emperor was the sole source of legitimate rule in the whole of South Asia. However, after Babur’s death his son Humayun faced crushing defeat at the hands of a Pathan lord, Sher Shah Suri in 1540. Humayun left India and took refuge in Persia. But his son Jalal ud-din Akbar was of extraordinary talent. After the death of Sher Shah Suri in 1545, the Pathans were in a weak position. Humayun took the advantage and returned to India. His son Akbar finally crushed the power of the Pathans and established the Mogul rule on a strong footing.

Akbar’s reign saw the all round development of India. The people of India prospered in every sphere of life. Trade and commerce flourished, arts and aesthetics attained new heights, and religious syncretism of the Moguls became the example of the day. The all round development can also be traced in the coins issued during the rule of Akbar Shah.

The monetary system of Akbar was inspired largely by the innovations of Sher Shah Suri. Sher Shah Suri was an able administrator. Akbar, though from a rival house, adopted several of the administrative measures innovated by Sher Shah Suri. Sher Shah first introduced Rupya. It was a silver currency weighed 178 grains. Akbar continued to issue the Rupya with his own name inscribed. Interestingly, the money is still known by the name of Rupya in India.

Akbar not only copied the measures introduced by Sher Shah, he also reflected innovation and originality. He issued coins in all the three principal metals used for coinage worldwide. The gold coin was known as Mohur. Mohurs weighed about 170 grains. It was mainly used by the traders for large business deals. It was also used by the princes of royal blood, the landlords and the regional governors for large amount of payment. Apart from the continuing usage of Rupya, Akbar also issued a different variety of silver coin known as Shahrukhi. It was of much lighter weight than the Rupya. A typical Shahrukhi weighed about 72 grains. The copper coins of Akbar Padshah were known as Dam. Dam weighed about 330 grains. The Shahrukhi and Dam were circulated in large numbers and used extensively by the common folks. The exchange rate of converting a particular variety of coin into another variety was also clearly defined.

The Akbari system of coinage is significant because of their minute details. A detailed description of the issuing year and the location of the mint were inscribed on the coins. The coins also carried the full title of the emperor. This practice was followed by all the subsequent Mogul emperors. Even the English East India Company who started their career in India as a subordinate power to the Moguls struck the coins in the name of the reigning Mogul emperor. This practice was discontinued by the English only in the year 1837 when the Moguls were in a politically debilitating state.

However, you won’t find a single coin carrying the image of any of the Mogul emperor. Moguls were known for their religious syncretism but they remained Muslim throughout the period. As is well known, idolatry is prohibited in Islam. Thus, the Moguls refrained from inscribing their image on their coins. But they compensated this with beautiful calligraphy. The Mogul coins remained as some of the most excellent examples of aesthetics and artistic excellence in Indian coinage.

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