The paper presents novel resources and experiments for Buddhist Sanskrit, broadly defined here including all the varieties of Sanskrit in which Buddhist texts have been transmitted. We release a novel corpus of Buddhist texts, a novel corpus of general Sanskrit and word similarity and word analogy datasets for intrinsic evaluation of Buddhist Sanskrit embeddings models. We compare the performance of word2vec and fastText static embeddings models, with default and optimized parameter settings, as well as contextual models BERT and GPT-2, with different training regimes (including a transfer learning approach using the general Sanskrit corpus) and different embeddings construction regimes (given the encoder layers). The results show that for semantic similarity the fastText embeddings yield the best results, while for word analogy tasks BERT embeddings work the best. We also show that for contextual models the optimal layer combination for embedding construction is task dependant, and that pretraining the contextual embeddings models on a reference corpus of general Sanskrit is beneficial, which is a promising finding for future development of embeddings for less-resourced languages and domains.