analyse the role of coinage metals in indian economics
Answers
Answer:
Following is the role:-
Explanation:
The "coinage metals" are copper, silver, gold, and roentgenium. These are the main elements used for coins.
The impact of coinage metals is such that they are used as a commodity to be used as a means of exchange of goods against these, "coins".
In the past, coinage in India was primarily issued by imperial dynasties and Middle Kingdoms. There were mainly coins of copper and silver which later led to proper metal currency.
How does this impact the economy?
It impacts the economy because the reserves are the resources of the country. This increases the value or the riches of a certain country, example: India.
Earlier they were a commodity, i.e. a means of exchange, thus look at how money is to us today, then we can make a guess that how important was coinage at a certain point in life, especially India, which is in a hub of trade and their main profession was of trade.