Mumbai: The Hinduja family has spent Rs 1 crore on cataloguing and research on 'Ancient Coins of India', a rare collection which was today donated by the Hinduja Foundation Antiquity Collection to Maharashtra government here.


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"We have spent Rs 1 crore on cataloguing and research on 'Ancient Coins of India' and we are ready to spend more as we are doing this for a cause," Hinduja Group India Chairman Ashok P Hinduja told PTI here today.


He was talking on the sidelines of an event held at the World Trade Centre by the Hinduja Foundation.


"There is no business involved in this and rather we are doing it out of passion and hence we have not made any budget for the programme," he added.


These coins were sourced by Lance Dane, an officer of the Royal British Army, and a private viewing which began here is being called the "Lance Dane Bequest". Dane continued to live on in India much after the Britishers moved out as he had fallen in love with the country.


The Hindujas hope this private viewing and donation would add to the state's historic treasures.


Most of the coins of this period are in silver, copper, lead, potin (a mixture of cobalt, tin and arsenic) and gold fanams. Some of the coin series are probably the most comprehensive representations of entire dynasties like Satavahana dynasty (150 BC to 250 AD).


The collection has punch marked Mudras, the earliest known coins of India, and are amongst the best known. It also highlights another dynasty Western Kshatrapas (1st to 5th AD) that is known through its coinage only and is amongst the earliest dated coins of India.