In early coins, sculptures and carvings of Sri or Lakshmi has been represented as either standing or sitting cross-legged on a lotus and two elephants bathing her by water poured from jars held by them from two sides. At Bharut four representations are seated and the rest standing have been found. Goddess Lakshmi is regarded as beauty, i.e. Sri, and is the goddess of hope, faith, modesty and fortune. She is also represented as seated or standing on lotus with a lotus in hand.
The worship of Lakshmi became widespread from the third century B.C. to first century A.D. Lakshmi representing plenty is mentioned in the Rig-Veda, the Ramayana and the Mahabharata and the tradition of her being the goddess of fortune and this tradition has travelled down the ages.
Lakshmi had come to be regarded as Rajalakshmi, the Fortune-giver of the king and would stay with her bounty for the king so long as the king practiced virtues and protected his subjects. Lakshmi is also referred to in literature and coins as city goddess as in the case of Rajagriha, Kapisa, and Ujjaini, etc. The Gupta Kings also represented Lakshmi in the coins as goddess of fortune.