Long before modern currency flowed through the island, ancient Sri Lanka possessed a sophisticated and diverse monetary system that testified to its role as a crucial hub in the maritime trade networks of the ancient world. The coins that circulated through the markets of Anuradhapura, the ports of Mantai, and the trading centers of Kantarodai tell a story not just of commerce, but of cultural exchange, religious symbolism, and technological innovation that spanned over a millennium.
The Dawn of Currency: Kahapanas and the First Coins
The earliest evidence of coin circulation in Sri Lanka dates to the 3rd century BCE, when punch-marked coins known as “Kahapanas” or “Puranas” first appeared on the island. These weren’t Sri Lankan inventions initially—they were Indian imports, flat pieces of silver cut from sheets or thin bars, trimmed to precise weights, and stamped with various symbolic punch marks. The kahapana represented the island’s first step into a monetized economy, arriving through the bustling trade routes that connected Sri Lanka to the Indian subcontinent.
What makes these early coins fascinating is their symbolic language. Over 500 unique markings have been identified on kahapanas, featuring symbols including the sun, moon, elephants, dogs, and sacred trees. These weren’t random decorations but meaningful emblems that communicated value and authority across linguistic barriers. The coins could be round, rectangular, square, or multi-sided, typically receiving strikes from several punches—commonly five on the obverse and one on the reverse.
But Sri Lanka didn’t remain merely an importer of currency. By the 2nd century BCE, during the reign of the legendary King Dutugamunu, the island had begun producing its own punch-marked coins. Cave inscriptions from this period provide remarkable evidence of this development, mentioning specialized officials such as “Rupadaka” (Director of coins) and “Rupavapara” (Officer approving coins). These titles reveal that ancient Sri Lanka had developed a structured system for coin production, complete with quality control and administrative oversight.
Archaeological evidence of local production came dramatically to light in 1954 when excavations at Kantarodai revealed four silver punch-marked coins bearing distinctive snake motifs. Scholars believe these were issued by the Naga chieftains of Nāgadipa, representing some of the earliest locally produced currency. The kahapana system remained in use from approximately 250 BCE to at least 200 CE, facilitating trade and commerce for nearly half a millennium.
The Divine Economy: Lakshmi Plaques and Religious Symbolism
Perhaps no ancient Sri Lankan coins are more visually striking than the Lakshmi plaques—rectangular pieces of copper that blur the line between currency and sacred art. Dating from approximately 100 BCE to 300 CE, these remarkable objects feature an elaborate iconographic program on their obverse: the goddess Lakshmi standing gracefully on a lotus flower, grasping two lotus stems that rise to her shoulders. Atop each blossomed lotus stands an elephant holding a clay water vase, pouring water over the goddess in an eternal abhisheka (ritual bathing).
The reverse displays a railed swastika—an ancient symbol of prosperity and good fortune in Buddhist and Hindu traditions—rotating either to the right or left. These plaques vary dramatically in size, from about three inches down to half an inch, suggesting they served different denominations or purposes.
For decades, scholars debated whether these beautiful objects were actually coins or merely votive offerings used in temple rituals. Modern archaeological consensus, led by eminent scholars such as Professor Senarath Paranavitana, now holds that they served dual purposes—functioning both as currency within temple economies and as ritualistic objects. This dual nature reflects the deeply intertwined relationship between religion and commerce in ancient Sri Lanka.
The discovery patterns of Lakshmi plaques reveal the extent of economic networks across the island. They have been unearthed at Anuradhapura, Jaffna, Vallipuram, Thirukethiswaram, Kantarodai, Mannar, Mullaitivu, Chilaw, and Tissamaharama—essentially spanning the entire island from north to south, suggesting a unified monetary zone despite potential political divisions.
Symbols in Metal: Tree and Swastika Coins
Alongside the Lakshmi plaques, another distinctive coin type circulated through ancient Sri Lanka: the tree and swastika coins. These copper or copper-alloy pieces featured a tree—often interpreted as the sacred bo-tree of Buddhist tradition—on one side and the auspicious swastika symbol on the other. Unlike punch-marked coins, these were always cast rather than struck, representing a different manufacturing technique.
Interestingly, archaeological evidence reveals regional variations in production methods. Coins found in Anuradhapura are thin and struck with fine detail, while recent discoveries at Akurugoda near Tissamaharama in southwestern Sri Lanka are thick and roughly cast. This suggests that different regions may have maintained their own minting facilities with varying technological capabilities and aesthetic standards.
The Technology of Money: Minting Techniques
The production of ancient Sri Lankan coins involved multiple sophisticated techniques that evolved over centuries. The earliest punch-marked coins required metalworkers to cast silver into sheets, cut them to size, trim them to the correct weight, and then carefully apply symbolic stamps using metal punches—a process requiring both metallurgical knowledge and artistic skill.
A breakthrough discovery at the Gedige excavations in Anuradhapura revealed terracotta casting molds from layers dated between the 2nd century BCE and 2nd century CE. These molds, featuring main channels for pouring molten metal, provided concrete evidence of local coin production. The casting technique was particularly important for producing copper coins with complex designs like the tree and swastika types.
Die-striking represented the most advanced technique, used for coins like the “Datta” series made of leaded copper alloy. This method allowed for finer detail and more complex designs, though it required more sophisticated equipment and greater technical expertise.
Ancient Sri Lankan metallurgists worked primarily with three materials: silver for the earliest kahapanas, copper and copper alloys for the more common circulating currency, and later gold for higher-value coins. Some coins were even made from lead, silica, iron, and nickel, demonstrating experimental approaches to currency production.
Hoards and Discoveries: Archaeological Treasures
The story of ancient Sri Lankan coins is also a tale of remarkable archaeological discoveries that continue to reshape our understanding of the island’s economic past. In 1885, fifty-one coins were discovered in a mud pot at Mullaitivu, marking one of the first significant coin hoards found on the island. This was followed by an even more important discovery in 1917 when Paul Pieris obtained hundreds of coins from Kantarodai.
These initial discoveries sparked systematic searches that yielded coins from Nallūr, Vallipuram, Ānaikōttai, Pūnakari, Udutturai, Mātōtta, Anuradhapura, Tissamaharama, Puttalam, Ninthāvur, and Akurugoda. The concentration of finds in northern Sri Lanka, particularly around Kantarodai, suggests this area was an important Buddhist mercantile center among Tamil populations, challenging simplistic narratives about ancient ethnic divisions.
Windows to the World: International Trade and Roman Connections
Ancient Sri Lankan coins don’t tell only a local story—they reveal the island’s integration into vast maritime trade networks spanning the Indian Ocean. From around the 1st century BCE to the 3rd century CE, Sri Lanka—known as “Taprobane” in classical texts—served as a crucial hub along the maritime Silk Route and spice routes.
Archaeological excavations at ancient port sites like Mantai and Trincomalee have uncovered not just local currency but Roman coins, beads, bangles, pottery, and evidence of customs houses and stone jetties. Most of the Roman coins date from the Eastern Roman Empire period of 317-450 CE, representing the peak of indirect trading activities that spanned at least five centuries before ceasing with the fall of Alexandria in 638 CE.
The first direct contact between Rome and Sri Lanka occurred during the reign of Emperor Claudius (41-54 CE), when a freedman of Annius Plocamus was blown off course to Hippuros, a Ceylonese port. According to Pliny’s Natural History, the superior quality of Roman coins so impressed the Sinhalese king that he sent an embassy to learn more about this distant empire.
Sri Lanka exported its renowned cinnamon, cardamom, and pepper—spices that commanded premium prices in Roman markets—while importing wine, gold glassware, and silver. Some evidence even suggests live tigers were occasionally shipped to Rome, destined for imperial menageries and arena spectacles.
Intriguingly, Professor Osmund Bopearachchi’s research suggests that during periods when Sri Lanka served as a center of international commerce, local mints may have counterfeited foreign coins, particularly punch-marked varieties. This practice, while controversial, indicates both the sophistication of Sri Lankan metallurgists and the strong demand for standardized currency in international trade.
Legacy in Metal
The ancient coin systems of Sri Lanka represent far more than simple mediums of exchange. They embody technological achievement, artistic expression, religious devotion, and economic integration with the wider world. From the carefully punched symbols on silver kahapanas to the divine imagery of Lakshmi plaques, from the sacred trees cast in copper to the Roman aurei found in ancient ports, these small metal objects carry the weight of centuries of human ambition, creativity, and connection.
The sophisticated monetary infrastructure revealed through cave inscriptions—with its directors of coins and approving officers—demonstrates that ancient Sri Lanka possessed not just currency but a true monetary system, complete with standardization, quality control, and administrative oversight. The diverse minting techniques, from simple punch-marking to complex die-striking and casting, show continuous technological innovation adapted to different materials and purposes.
Today, these ancient coins rest in museums and private collections, but their story continues to unfold as archaeologists uncover new hoards and scholars apply modern analytical techniques to old discoveries. Each coin is a messenger from the past, carrying tales of merchants and kings, priests and craftsmen, local markets and distant empires—a metallic memory of Sri Lanka’s ancient economic heartbeat.