Nagas were a dynasty that ruled parts of Central India (present day Madhya Pradesh) from 200-340 AD – in the period between the fall of the Kushan empire and the rise of the Gupta empire.   Naga coins have been discovered in Ujjain, Vidisha and Narwar in Madhya Pradesh and Mathura in Uttar Pradesh.

The obverse of these coins shows a humped bull, facing left with circle dots.

The reverse of the coins carries a legend in Brahmi reads as “Maharaja Sri Ganendra” and on few rare ones it reads as “Maharaja Sri Ganapati”.