Struck with a flat punch, possibly overstruck on a Achaemenid or Greek silver coin. 13mmx14mm, 2.82 grams. Cf.Todywalla Auction 104-7; 85-28.

The coins of Kamboja Janapada were derived from the coins of Gandhara Jnapada, as they used a similar punchmarked symbol (with a different number of arms, though). They are found only in Swat Valley in Pakistan (which was under the control of Kambojas and not of Gandhara) and are known from one or two small hoards. Two types are known - one punched with a 5-armed or 6-armed punch, and one struck with a blank punch and sometimes with a few tiny symbols. The coins are very rare - only two similar coins (of the second type, struck with a flat punch, very similar to the coins offered here) were offered for a public sale recently - Todywalla Auction 104 (Sep.2016), lot 7 (realized 26,000 Rs (401$ + fees); Auction 85 (April 2014), lot 28, realized 15,000 Rs (231$ + fees)). They might be the earliest of all punchmarked Indian coins. The ancient Kambojas were probably of foreign origin.They are, however, sometimes described as Indo-Aryans. The Kambojas are also described as a royal clan of the Sakas (Scythians). The Kambojas established a large Mahajanapada in the modern Pakistan. The capital of Kamboja was probably Rajapura (modern Rajauri).