The correct option is (a).
Explanation
Punch-marked coins are the earliest type of coinage used in the Indian subcontinent. They emerged during the period of the Mahajanapadas (around the 6th century BCE) and became the standard currency during the Magadhan and Mauryan eras. These coins were primarily made of silver and sometimes copper.
Statement-wise Analysis:
- Statement 1 is Correct: Punch-marked coins were in circulation for approximately 500 years. They originated around the 6th century BCE, coinciding with the Second Urbanisation, and remained the dominant currency through the Mauryan period until roughly the 1st or 2nd century BCE, after which they were gradually replaced by die-struck coins (influenced by the Indo-Greeks) and cast coins.
- Statement 2 is Incorrect: These coins were not always perfectly circular. They were manufactured by cutting strips from metal sheets or flattening metal globules. As a result, their shapes were irregular-often square, rectangular, or oblong-and rarely perfectly circular. The name "punch-marked" derives from the technique of punching symbols onto these irregular metal pieces rather than casting them in a circular mould.
Key Takeaway:
Punch-marked coins (Aahat coins) are India's earliest coinage, characterized by their irregular shapes (square/rectangular) and symbols stamped onto silver or copper planchets, lacking inscriptions or royal portraits.