The edicts of Ashoka (Gannjam district, Mysore) mentioned of Keralaputras (Cheras). Likewise, Sangam literature talked about Cheras too. From Aleppy, the graceful Cheras expanded their territory as far as Calicut. There existed another branch of Cheras called "Irumporai Cheras, who had their capital at Karur and the territory included the Palghat pass and the Kongu plain. Perhaps during 150 BC, Cheras began issuing coins. Periplus and the literature of Pliny and Ptolemy mentions of a well established kingdom of Cheras around 1st to 2nd century AD. The coins were generally found in their commercial city of Karur, which had their royal emblem "Bow and Arrow". Irumporai cheras issued coinage even around 250 AD or slightly later.
The Punch Marked Coins (PMC) in silver of the Mauryans, circulated well in Cheran territory during 2nd century to 1st century BC. The only difference one may observe in these coinage is the additional local punches they carried in them. Imported Roman silver dinaris circulated and accepted well in the region too. Together with them, there existed another type of coinage issued in Copper by the cheran authority. Being in quadrilateral shapes, sometime they carried several punches (as inspired by the Mauryan coinage) and some carried the image such as elephant, horse etc., The symbols such as Elephant, Horse, Bow and Arrow all shows the interdependency of these "Muvvararasar" (Three Kings, Chera, Chola, Pandya). The smallest of the coins weighed around 2 gms, and the biggest ones were of around 6 gms.