Muhammad bin Tughlaq’s token currency failed because counterfeit copper coins flooded the market. Ordinary people, artisans and corrupt officials produced fake coins in huge quantities. Without a proper minting system, the state could not distinguish genuine from fake currency, collapsing ...
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Muhammad bin Tughlaq introduced a token currency using copper and brass coins to replace precious metal coins. His aim was to increase state revenue and reduce dependence on silver. However, poor control over minting and widespread counterfeiting caused the experiment ...