Question

Describe about the token currency of tugluq

Answer 1

HEY FRIEND I CAN ONLY TELL YOU THAT during the phase of tughluq dynasty ruled by a foolish yet educated ruler Mohammad-bin-tughlaq demolished the trade and business coins of gold and silver that were in the market throughout the parts of India.A MAN FROM OUTSIDE PART OF INDIA came in tughluq's Kingdom gave him the idea of copper and stone coins with good smell came through it . Since then he ordered people and traders to carry and make those coins which became very difficult and initially came to disastrous effect on trade and commerce in India under this dynasty. Soon after the destructive effect took place Tughluq understood his grave mistake and told the people to rehabilitate and reconstruct gold and silver coins
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Answer 2

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In 1329, Muhammad-bin Tughluq introduced a token currency. There was a shortage of silver during this period. So the sultan decided to mint coins of brass and copper for day-to-day use. These coins had the same value as pure silver coins. Further they could be exchanged for silver coins, at any time, from the royal treasury. Muhammad, however, failed to check the illegal minting of coins. The design of the coins was simple enough for ordinary craftspeople to copy. As brass and copper were easily available and much cheaper than silver, people bought brass and copper in bulk and started minting coins at home. The kingdom was flooded with forged coins. Money lost its value. Trade suffered as foreign merchants refused to accept these coins. The sultan had to give silver coins in exchange of even forged coins. The treasury thus became empty. The experiment was soon withdrawn. Barani wrote that heaps of bronze coins rose like mountains near Tughluqabad.