The first punch-marked coins in India were issued by:
- Mauryas
- Janapadas
- Indo-Greeks
- Guptas
Answer: Janapadas
Punch-marked coins (6th-2nd century BCE) were issued by Mahajanapadas like Magadha, Kosala, and Avanti. They were made of silver and bore symbols like sun, moon, and animals, representing early state authority. [[1]]