of trade between India and Babylon in the 6th century BC. James Princep (1835), who proposed the Greo-Bactrian (256-100 BCE) origin of the PMC coins, this was also supported by C.W King. Princep later admitted that due to the archaic nature of PMC, they were older than the Greo-Bactrian coinage. The weight standard of the Gandharan, Shatamana, Bent Bar coins is asserted, by like of Cribb, Allan, and Schlumberger, as twice the Sigloi weight and hence represent the Persian weight standards. Other scholars such as Vincent Smith recognised the Satamana as 100 ratti weight system of Iron Age in India. Cunningham (1891) asserts that ancient India had an abundance of gold but little silver. The gold to silver ratio in India was 10 to 1 or 8 to 1. In contrast, in the neighbouring Persia, it was 13 to 1. This value differential would have incentivised the exchange of gold for silver, resulting in an increasing supply of silver in India. Achaemenid coinage in northwestern India Coin finds in the Chaman Hazouri hoard in Kabul or the Shaikhan Dehri hoard in Pushkalavati have revealed numerous Achaemenid coins as well as many Greek coins from the 5th and 4th centuries BCE were circulating in the area, at least as far as the Indus during the reign of the Achaemenids, who were in control of the areas as far as Gandhara. In 2007 a small coin hoard was discovered at the site of ancient Pushkalavati (Shaikhan Dehri) in Pakistan. The hoard contained a tetradrachm minted in Athens circa 500/490-485/0 BCE, together with a number of local types as well as silver cast ingots. The Athens coin is the earliest known example of its type to be found so far to the east. Early historic period (early 1st millennium BCE – 300 BCE) Indian Punched mark Karshapana coins Sometime around 600BC in the lower Ganges valley in eastern India a coin called a punchmarked Karshapana was created. According to Hardaker, T.R. the origin of Indian coins can be placed at 575 BCE and according to P.L. Gupta in the seventh century BCE, proposals for its origins range from 1000 BCE to 500 BCE. According to Page. E, Kasi, Kosala and Magadha coins can be the oldest ones from the Indian Subcontinent dating back to 7th century BC and kosambi findings indicate coin circulation towards the end of 7th century BC. It is also