The Indo-Greeks; it's the right answer, since gold coins were first issued by Indo-Greeks in India. They introduced the gold coins around 270 BC. Wait a minute and try again. The minting of India began anywhere between the beginning of the first millennium BC until the sixth century BC.
C., and consisted mainly of copper and silver coins in its early stage. The coins of this period were Karshapanas or Pana. However, a variety of the earliest Indian coins, unlike those circulated in Western Asia, were stamped metal bars, suggesting that the innovation of the stamped coin was added to a pre-existing form of symbolic currency that had already been present in the Janapadas and Mahajanapada kingdoms of early historic India. The kingdoms that minted their own coins included Gandhara, Kuntala, Kuru, Panchala, Magadha, Shakya, Surasena and Surashtra, etc.
It is said that the emperor of Kushan, Vima Kadaphises, is responsible for introducing gold coins into India, around 100 CE. Vima was the predecessor of Kanishka the Great, the fifth king of Kushan, who ruled practically all of northern India. The Varaha was also called Hon, Gadyana or Pon and came in Ghattivaraha, Doddavaraha and Suddhavaraha coins. These coins were mostly copper and rarely silver, the metal dies were carefully molded to the required designs.
Gandharan's quarter svarna coins fit a different 5 ratti mashas system mentioned in the Arthashastra, as do copper punch marked coins (80 ratti, 146 grains, 9.46 grams). As a result, the value of coins decreased, and as Satish Chandra said, coins became as useless as stones. Its various currencies document the country's invasions, triumphs, religious and political turmoil, and cultural turning points. The British introduced uniform coins into India in 1835, with coins in the name of the East India Company, with the image of William IIII.
Soon the Indian rulers of the time copied the idea and gold coins were minted in India for the first time. The Masha coins were a quarter of Karshapanas, with the karshapanas being the value of a quarter of Karsha (13.7 grams, 128 ratti) or 32 ratti, which is the same as the normal weight used in the Indus Valley civilization. This standard (32 rattis) has been declared as Purana or Dharana by Kautilya. Later coins contain legends in Bactrian, the Iranian language spoken by the Kushans, and the Greek divinities were replaced by the corresponding Iranian ones.
Widely used on Silk Road trade routes, these coins suggest that early Kushans maintained Iranian religious beliefs, until Kushan officials minted coins suggesting Buddhist followers. The smallest weight in the Indus Valley civilization was equal to 8 rattis and were the basis for the weight standards of the first Indian coins in the 7th century BC. Gold coins in ancient India peaked with the Gupta emperors between the 3rd and 6th centuries AD. The Mughal emperor Babur issued coins standard timurids known as shahrukhi, named after Shahrukh Mirza, Timur's eldest son.
Razia Sultana was one of the few reigning queens in Indian history and therefore one of the few women who issued coins. These copper and silver coins were cut from large sheets of metal in irregular shapes (but of standard weight), and then heavy metal punches were used to stamp designs on them. Gold coins from the Kushan period generally represented the iconography of Indian mythology, where Shiva, Buddha and Kartikeya were the main Indian deities portrayed.