INDIA, post-punchmarked municipal coins.
    The Mauryan-Sunga empire shrank in the 2nd century BC, leaving the outlying provinces to their own devices.  Some of them were swallowed up by invaders like the Greeks.  Actually all of them fell to this or that conqueror eventually.  But some managed to hold on and run their affairs on their own for a time.  Pushkalavati (Peshawar), for example, was run by its commercial guilds (modern term: "banks") for a while.  These entities struck a series of municipal copper coins that became the model for the square Greek bronzes after those guys conquered the region.
    Exactly which city issued which coins is a subject of debate.  The elephant/lion coins, for example, are assigned to Pushkalavati by Mitchiner and to Taxila by Senior.

274-18. PUSHKALAVATI, c.185-160 BC, bronze 1/4 karshapana, MA-4411v2, lion L, R-pointing swastica above R, trident-like thing before / blank, aF $175.00
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PUSHKALAVATI, c.185-160 BC, 14mm bronze, 0.9g, MA-4389 series, hill / mound of dots over waves, scratches, aVF $45.00
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PUSHKALAVATI elephant/lion coins form a coherent series, the details of which are at this time unelucidated.  The weight of the basic coins are 14 grams or so, called "1 1/2 karshapana" by Mitchiner.  Fractions of various kinds are rare, meaning less than 1 of 100 found.  They are found with both or either animal facing left or right.  The animals facing oppositely are far more common than both facing the same way.  The directions probably indicate a sequence or "something," but how the system worked is completely unknown, possibly unconsidered.
PUSHKALAVATI, c.185-160 BC, bronze 1 1/2 karshapana, MA-4400, elephant L / lion R, nice F+ $65.00 sold 2/13/2008
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PUSHKALAVATI, c.185-160 BC, bronze 1 1/2 karshapana, MA-4398, elephant L / lion R, nice F $48.00
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PUSHKALAVATI, c.185-160 BC, bronze 1 1/2 karshapana, MA-4398, elephant L / lion R, VG $33.00
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PUSHKALAVATI, c. 185-160 BC, bronze 1 1/2 karshapana, MA-4401v1, elephant R / lion L, swastica above, F $38.00
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PUSHKALAVATI, c.185-160 BC, bronze 1 karshapana, ~10g, MA-4401v1, elephant R / lion L, swastica above, VG $36.00
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PUSHKALAVATI, c.185-160 BC, bronze 1 1/2 karshapana, MA-4401v1, elephant R / lion L, swastica above, G $16.00 sold 10/16/2008
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PUSHKALAVATI, c.185-160 BC, bronze 3/4 karshapana, ~7g, MA-4401v2, elephant R / lion L, swastica above, this weight very scarce, choice VF $125.00 sold 11/6/2008
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PUSHKALAVATI, c.185-160 BC, bronze 1/2 karshapana, ~5-6g, MA-4408, elephant R / lion L, swastica above, scarce denomination, decent VG $33.00 sold 9/6/2008
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PUSHKALAVATI, c.185-160 BC, 17x20 hexagonal bronze 1 1/2 karshapana, MA-4398v, elephant L / lion L, this particular orientation of the animals not in Mitchiner, F+ $65.00 sold 4/12/2013
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PUSHKALAVATI, c.185-160 BC, 17x15mm oval bronze, 6.7g, MA-4401v, elephant R / lion L, I thought this might be a one-off wierdo, but then I was shown another round one from Afghanistan, F+ $72.00
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PUSHKALAVATI, c. 185-160 BC, 14x15mm bronze 1 1/2 karshapana, 10g, MA-4404v, elephant R / horse L, VG $85.00
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    The horse issues might or might not be the first coins after the Greek conquest.
 
 
 
 

PUSHKALAVATI, c.185-160 BC, ~AE18, ~17g squarish, MA-4404, elephant R / horse L, star above, VG $56.00
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PUSHKALAVATI, c.185-160 BC, rectangular bronze 1 3/4 karshapana, 16.1g, MA-4406v1, elephant R / horse L, star above, 17x17x8mm!, strike & surface not so wonderful, but the dimensions make it sexy, VG $75.00
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PUSHKALAVATI, c.185-160 BC, 18mm bronze 1/4 karshapana, MA-4412, lion L, swastica behind, overstruck on something,  aF $45.00
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TAXILA, c.185-160 BC, 9x17mm rectangular bronze, 4.85g, MA-4418v1, rice plant?, hill, swastica / double trident, hill, bull head, VF $180.00 sold 4/12/2013
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TAXILA, c. 200-180 BC, 17mm bronze, 2.3g, MA-4413sv2, moon over hill  / swastica rolling L, VF $100.00 sold 4/12/2013
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TAXILA, c.185-160 BC, 13mm bronze, MA-4421, hill L, bull head R / bull head L, hill R, aF $30.00
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TAXILA, c.185-160 BC, 13mm bronze, MA-4421v2, hill L, bull head R / same with 2 joined circles below, barbarous, F/aVF $34.00 sold 4/12/2013
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TAXILA, c.185-160 BC, 16mm bronze 1/4 karshapana, 3.5g, MA_4422v2, hills L, gateway R / fragmentary or nothing, VF $55.00
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TAXILA / PUSHKALAVATI?, c.185-160 BC, 16mm bronze 1/4 karshapana, MA-nl, elephant / hills, Mitchiner gives the elephant coins to Pushkalavati & the hill coins to Taxila.  Perhaps this coin indicates a joint coinage?  Very rare.  VF $175.00 sold
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TAXILA / PUSHKALAVATI?, c.185-160 BC, 11mm bronze, 2.5g, MA-4410 series,  elephant L / moon above hill, VG $65.00
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Other specimens and similar coins in lesser grades in the inventory

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