What was used in the Vedic period as a unit of money in the barter system?

The correct answer is Cattle.

Key Points

• During the Vedic period, cattle were used as the primary unit of exchange in the barter system instead of coins.
• The term "Gomash" (value of a cow) was often used to denote wealth in the Vedic texts.
• Cattle were considered an important measure of wealth and prosperity, as their utility extended to agriculture, dairy, and religious rituals.
• In the Rigveda, references to gifting and exchanging cattle are abundant, emphasizing their role in the barter-based economy.
• The barter system during the Vedic age revolved around exchanging goods and services, with cattle being one of the most valuable commodities.

Additional Information

• Barter System:
  • A system of exchange where goods or services are directly traded without the use of money.
  • Common in ancient civilizations, including the Vedic period, before the introduction of coinage.
• Economic Practices in the Vedic Period:
  • The economy relied heavily on agriculture, cattle rearing, and trade.
  • Wealth was measured in terms of livestock, especially cows, and agricultural produce.
• Role of Cattle in Society:
  • Cattle were used for plowing fields, transportation, and providing milk and dairy products.
  • They also held religious significance, being central to many Vedic rituals and sacrifices.
• Transition to Coinage:
  • Coinage in India began during the later Vedic period and became prominent in the Mahajanapada era (6th century BCE).
  • Silver and copper coins gradually replaced barter as the primary medium of exchange.