From pagodas to paisa: The coinage of the Mysore Sultanate

The reign of Hyder Ali and his successor Tipu Sultan was short, beginning in 1763 when Hyder captured Bednur, the capital of the Ikkeri Nayakas. This marked the foundation of the Mysore Sultanate and the establishment of an independent dominion, which ended with the death of Tipu Sultan in 1799.

During this brief period, both Hyder and Tipu issued several coins from various mints, which are today coveted by numismatists.

The bahaduri pagoda, a gold coin issued by Hyder Ali, was produced between 1763 and 1782, and circulated extensively. Each coin weighed around 3.4 grams with a diameter of 1.3 cm.

The mint was often uncertain, but some varieties were struck at Bahadurpatan (later Seringapatam/Srirangapatna). Its obverse depicted Shiva and Parvati, an adaptation of the Pagoda coinage of the Ikkeri Nayakas. Shiva held a trident (trishul) and a deer, with the sun and moon symbols above. The reverse showed the Persian letter He (pronounced hay, the initial of Haidar Ali) on a granulated background. 

Hyder Ali was known for adopting the existing local coinage rather than creating entirely new types. The name bahaduri was derived from the title Hyder Ali Khan Bahadur, bestowed on him by Salabat Jung. The motif on the Bahaduri Pagoda was borrowed from the pagoda struck in the 16th century by Sadashiva Nayak, the first Raja of Ikkeri/Bednur. In fact, Sadashiva Nayak had imitated the pagoda of Sadasivaraya of Vijayanagara. 

Hyder’s half-pagodas were of two types: one portraying seated Shiva–Parvati and the other depicting Vishnu, the latter typologically similar to the gold coins of Krishnadevaraya of Vijayanagara.

Hyder Ali also issued gold panams (fanams), small coins weighing around 0.38 gram. They were divided into three groups based on their obverse motifs. One was the bahaduri pagoda type with Shiva-Parvati motif. The second had a stylised lion motif of viraraya panam type and the third was Hijri-dated type. These coins were minted in various locations including the Calicut mint and the Nagar (Bednur) mint.  

Hyder Ali followed a pragmatic approach to currency, adapting existing local coinage patterns with minor modifications. This included the continued use of traditional Hindu imagery on his gold coins, to ensure their acceptance by the people and continuity in trade. 

The copper paisas with elephant motifs on the obverse were struck at Srirangapatnam during the last two years of Hyder’s reign. They later became the model for Tipu Sultan’s extensive copper coin series. The caparisoned elephant motif traces its origins to the coinage of the Western Gangas.

Tipu Sultan’s coins 

Tipu Sultan also issued numerous coins, including versions of the bahaduri pagoda, continuing the style of the Ikkeri Nayaka coinage with minor modifications.

His coinage in gold, silver and copper existed in far greater variety and quantity than that of his father. Tipu operated from 12 mints including Pattan (Srirangapatna), Nagar (Bednur), Faiz Hisar (Gooty), Bengalur (Bengaluru), Farrukh-yab Hisar (Chitaldurg or Chitradurga), Kallkut (Calicut), Farrukhi (Feroke), Salamabad (Sathyamangalam), Khaliqabad (Dindigul), Zafarabad (Gurramkonda), Khwurshed-sawad (Dharwar) and Nazarbad (Mysore).

The entire coinage of Tipu Sultan (1783 - 1799) could be divided into the Hijri era (1783-1786); the Pre-third Mysore war issues (1787-1790), and the third Mysore war and the latter issues (1790-1799). 

During the Hijri phase, coins were minted mainly from Pattan, Nagar and Calicut. Higher denominations like ahamadi, pagoda, double-rupee and rupee were issued from Pattan and Nagar mints. Calicut issued only gold panams.  

In the second phase, the monetary history of Tipu began with a new dating system known as Mauludi Era. He also established more mints, increasing their number to twelve stretching from Dharwar (Dharwad) in the north to Dindigul in the south. The coins were named after Imams, the spiritual leaders, and celestial bodies.

The third phase saw a sharp decline in minting after Tipu lost several territories to the British, Marathas and the Nizam. Gold and silver coins were mainly issued from Srirangapatna, with limited production at Nagar and Gooty.

Tipu chose mint towns based on their military or political importance, often giving them invented Persian names, though some like Nagar, Bengalur, Calicut and Feroke retained their originals.

Gold coinage

Tipu’s gold coinage included four denominations: ahmadi (equivalent to four pagodas and named after the Prophet); sadiqi (equivalent to two pagodas and named after Caliph Abu Bakr Sadiq); faruqi (Pagoda and named after Caliph Omar Faruqi), and panam, a small gold coin without inscriptions, widely circulated in South India. 

Seven varieties of silver coins were issued by Tipu Sultan, including the double-rupee (haideri), the rupee, half-rupee and the quarter, eighth, sixteenth and thirty-second of a rupee (khizri), each named after an Imam or Islamic saint. 

His copper coins, issued in five values from double-paisa to one-eighth paisa, featured Arabic letters and elephant motifs. Each denomination bore the name of a planet or star—Jupiter (al mushtari), Venus (zohra), Mars (bahnim), star (akhtar) and Pole Star (qutb).

Tipu Sultan’s monetary system is a distinctive blend of Islamic devotion, astronomical symbolism and political authority, reflected in a coinage that remains among the most studied in South Indian history.

The copper paisa issued by Hyder Ali.

The silver one rupee coin issued by Tipu Sutan.