Punch marked coins are regarded as the earliest coin type in India. They were in circulation long before the beginning of the Christian era. Buddhist Jatakas and texts of Manu and Panini contain numerous evidences to their authenticity. They are called punch-marked coins due to the fact that some symbols were punched on both faces of these coins instead of die-struck as in the case of modern coins. They are available only in silver and copper though ancient literature gives indication to their circulation in gold.