Coins of Turkey

Turkey. 100 Piastres. 1327 (1909)
23 mm; 7.216 g
0.2126 oz. of 0.9166 fine gold

Common, scarce and rare Turkish coins at Mintmark.com.

"The Turkish lira (currency sign: TL; Turkish: Türk lirası; ISO 4217: TRY) is the currency of Turkey and the de facto independent state of the Turkish Republic of Northern Cyprus. The lira is subdivided into 100 kuruş. All notes and coins of Turkish Lira have portraits of Mustafa Kemal Atatürk from different points of his life since 1930s (with the exception of some notes of second emission, 1937-1942, which features İsmet İnönü) on the obverse side. HISTORY—First Lira—After periods pegged to the British pound and the French franc, a peg of 2.8 lira = 1 U.S. dollar was adopted in 1946 and maintained until 1960, when the currency was devalued to 9 lira = 1 dollar. From 1970, a series of hard, then soft pegs to the dollar operated as the value of the lira began to fall. Because of the chronic inflation experienced in Turkey from the 1970s through to the 1990s, the lira experienced severe depreciation in value. Turkey has had high inflation rates compared to developed countries but has never suffered hyperinflation. From an average of 9 lira per U.S. dollar in the late 1960s, the currency came to trade at approximately 1.65 million lira per U.S. dollar in late 2001. This represented an average inflation of more than 40% per year.

● 1966 — 1 U.S. dollar = 9 lira
● 1980 — 1 U.S. dollar = 90 lira
● 1988 — 1 U.S. dollar = 1,300 lira
● 1995 — 1 U.S. dollar = 45,000 lira
● 1996 — 1 U.S. dollar = 107,000 lira
● 2001 — 1 U.S. dollar = 1,650,000 lira
● 2004 — 1 U.S. dollar = 1,350,000 lira
● 2005 — 1 U.S. dollar = 1.29 new lira (The use of New Turkish Lira, which drops 6 zeros from the currency Turkish Lira, was implemented in 2005)
● 2007 — 1 U.S. dollar = 1.26 new lira
● 2008 — 1 U.S. dollar = 1.55 new lira
● 2009 — 1 U.S. dollar = 1.48 new lira
● 2010 — 1 U.S. dollar = 1.44 lira (Turkish Lira and New Turkish Lira were used together in 2005. In 2010, the name was converted to Turkish Lira, but New Turkish Lira was used as currency until 31 December 2009)

In its last few years, the Turkish lira stabilized and even rose against the U.S. dollar and the euro. The Guinness Book of Records [see Guinness World Records 2011] ranked the lira as the world's least valuable currency in 1995 and 1996, and again in 1999 through 2004. The lira had slid in value to such an extent that one original gold lira coin could be sold for approximately 120,000,000 lira prior to the 2005 revaluation. Second lira—In late December 2003, the Grand National Assembly of Turkey passed a law that allowed for redenomination by the removal of six zeroes from the lira, and the creation of a new currency. It was introduced on 1 January 2005, replacing the previous lira (which remained valid in circulation until the end of 2005) at a rate of 1 second lira (ISO 4217 code TRY) = 1,000,000 first lira (ISO 4217 code TRL). With the revaluation of the Turkish lira, the Romanian leu (also revalued in July 2005) briefly became the world's least valued currency unit. In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called Yeni Türk Lirası (New Turkish lira). It was officially abbreviated YTL and subdivided into 100 new kuruş (yeni kuruş). With effect from 1 January 2009, the new was removed from the second lira, its official name becoming just lira again, abbreviated TL. COINS—First lira—n 1922/23, a new coinage was introduced consisting of aluminium-bronze 100 para, 5 and 10 kuruş and nickel 25 kuruş. They were last issued in 1928. These were the last Turkish coins to bear inscriptions in the Arabic script. In 1934, silver 100 kuruş coins were struck, followed the next year by a new coinage consisting of cupro-nickel 1, 5 and 10 kuruş, and silver 25 and 50 kuruş and 1 lira. Aluminium-bronze 10 para coins were issued between 1940 and 1942, the last coins to bear this denomination. Nickel-brass replaced silver in the 25 kuruş in 1944, with brass 1, 2½, 5, 10 and 25 kuruş introduced between 1947 and 1949. The silver 50 kuruş and 1 lira were discontinued in 1948, with cupro-nickel 1 lira issued in 1957. Between 1958 and 1963, bronze 1, 5 and 10 kuruş and steel 25 kuruş, 1 and 2-1/2 lira were introduced, followed by steel 50 kuruş and 5 lira in 1971 and 1974, respectively. Aluminium replaced bronze in 1975. These coins were issued up to 1980. In 1981, with inflation gaining pace, aluminium 1, 5 and 10 lira coins were introduced. Higher denominations followed: 20, 50 and 100 lira in 1984, 25 lira in 1985, 500 lira in 1988, 1000 lira in 1990, 2500 lira in 1991, 5000 lira in 1992, 10,000 lira in 1994, 25,000 lira in 1995, 50,000 lira in 1997, and 100,000 lira in 1999. This culminated in 250,000 lira coins in 2002. Second lira—2005–2008—In the transitional period between 1 January 2005 and 31 December 2008, the second lira was officially called new lira in Turkey. Coins were introduced in 2005 in denominations of 1, 5, 10, 25 and 50 new (yeni) kuruş and 1 new (yeni) lira. The 1 new kuruş was minted in brass and the 5, 10 and 25 new kuruş in cupro-nickel, whilst [while] the 50 new kuruş and 1 new lira are bimetallic. All coins show portraits of Mustafa Kemal Atatürk. To the dismay of the European Central Bank, the sizes and compositions of the 50 new kuruş and 1 new lira coins clearly resemble those of the €1 and €2 coins respectively . . . This could cause confusion in the eurozone. It also caused trouble to businesses using vending machines (particularly at airports) in the eurozone since a number of vending machines at the time accepted the 1 new lira coin as a €2 coin. Since €2 is worth roughly four times more, vending machines affected had to be upgraded at the expense of their owners. Since 2009—From 1 January 2009, the new was removed from the second lira, its official name in Turkey becoming just lira again; new coins without the word yeni were introduced in denominations of 1, 5, 10, 25, 50 kuruş and 1 lira. Also, the inner and outer alloys of the 50 kuruş and 1 lira coins were reversed . . ." — Turkish lira at Wikipedia. This version was edited and (or) revised by Mintmark.com

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