A 17th-century Mughal emperor mandated that all large transactions be paid in uncut diamonds

In 17th-century India, Emperor Jahangir attempted to stabilize the imperial economy by decreeing that all transactions exceeding 100 rupees must be paid in uncut diamonds. These stones were sourced primarily from the legendary Golconda mines, which produced approximately 20,000 carats annually. By mandating diamonds as a high-denomination currency, Jahangir sought to utilize their extreme portability and inherent rarity to facilitate trade across his vast territories.