ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The earliest coins were made of electrum, a natural mixture of gold and silver, and were crude, bean-shaped ingots bearing a primitive punch mark certifying to either weight or fineness or both.

Detailed explanation-2: -Metallic money refers to coins made of various metals such as gold, silver, bronze, nickel, and so on. Its worth is guaranteed by the state’s exclusive monopoly. The state owns the mining rights to the coins.

Detailed explanation-3: -Coins of medieval India were a major source of information for historians. The pictures and legends on the coins conveyed the names of kings, their titles, portraits and their dynasties. They were repositories of information on the economic conditions of the empire.

Detailed explanation-4: -Metallic Money: The money made of any metal such as gold, silver etc is called metallic money. It exists in the form of coins.