Why did the token currency experiment fail?

The state failed to maintain a monopoly on minting, leading to large-scale counterfeiting by citizens in their own homes.

Tughlaq's Gold Coins and Token Currency | UPSC

Q: Consider the following statements: **Assertion (A):** Muhammad-Bin-Tughluq issued a new gold coin which was called Dinar by Ibn Battuta. **Reason (R):** Muhammad-Bin-Tughluq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries. Code:

Assertion A is true as MBT did issue high-quality gold coins called Dinars. However, Reason R is false because his token currency used base metals like copper, not gold.

ID: HIS_MED_2006_11 Ref: Ibn Battuta, Rihla

Consider the following statements:
Assertion (A): Muhammad-Bin-Tughluq issued a new gold coin which was called Dinar by Ibn Battuta.
Reason (R): Muhammad-Bin-Tughluq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries.

Code:

Consider the following statements: Assertion (A): Muhammad-Bin-Tughluq issued a new gold coin which was called Dinar by Ibn Battuta. Reason (R): Muhammad-Bin-Tughluq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries.Code:

Consider the following statements:
Assertion (A): Muhammad-Bin-Tughluq issued a new gold coin which was called Dinar by Ibn Battuta.
Reason (R): Muhammad-Bin-Tughluq wanted to issue token currency in gold coins to promote trade with West Asian and North African countries.

Code: