Taxila was one of the most popular cities of the Ancient period and with the evolution of the coinage, the local rulers of Taxila started issuing coins. The given square copper coin is one of the inscribed coins of Taxila. It is inscribed die-struck coinage of the 'Five Guilds'. The obverse of this coin depicts Dharmachakra (wheel of law), the three-arched hill above. The reverse depicts a row of Buddhist symbols (Triratna, Swastika, Triratna), Kharoshthi legend Pancha Nekame (of five guilds) below.
Until now the legend of this coin has been read as ‘pamchanekame’ which means ‘the five guilds or panch negama’. The word ‘Naigamah’ is a Sanskrit word meaning ‘trader’. Therefore, this coin is regarded as a joint guild issue of Taxila.
Image Courtesy: Classical Numismatic Gallery