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The Turkish lira is the official currency of Türkiye, which has been used for over 170 years. Understanding its history, its characteristics and the factors that influence its value is essential for anyone who wants to delve into the Turkish economy or simply travel around the country.
History and characteristics of the Turkish lira
Introduced in 1855 during the Ottoman Empire, the Turkish lira has undergone several reforms and denominations over the decades. Currently, the Turkish lira is divided into 100 kuruş. The banknotes in circulation have different denominations, from 1 to 200 lira, while the coins include 1, 5, 10, 25 and 50 kuruş, as well as 1 lira.
The management of the Turkish lira is entrusted to the Central Bank of the Republic of Turkey, which regulates its issuance and implements its monetary policies.
The Turkish lira is a currency with a rich history and an important role in the country’s economy. Its value is influenced by multiple factors, both internal and external, which make its fluctuation an interesting indicator of Turkey’s economic and political health.
The rarest Turkish coins
For the Turkish currency, considering its long history, there are many coins characterized by rarity. Among these, one is the 1924 Lira, having been the first currency of the Republic of Turkey, which is why it is undoubtedly a rare and significant piece for the history of the country. The coin features the effigy of Mustafa Kemal Atatürk facing left on the obverse, with the writing “TÜRKİYE CUMHURİYETİ” (Republic of Turkey) above and “1 LIRA” below; while on the reverse, a crescent moon and five-pointed star, national symbols of Turkey, with the writing “1924” underneath.
The exact mintage of the 1 Lira of 1924 is not certain, but it is estimated to have been relatively low, making it a rare and sought-after coin by collectors. Another coin that is worth “gold” not just for the sake of saying it is the 100 Turkish lira from 1970, a commemorative gold coin minted to celebrate the centenary of the birth of Mustafa Kemal Atatürk, the founder of the Republic of Turkey.
It is probably made of gold, but its precise value is difficult to establish without further details and examination by an expert. However, it could be a rare and sought-after coin by collectors, with a potentially high value.
Finally, the 1954 50 Kuruş coin in Turkey is an interesting item for collectors, particularly because it is a commemorative coin minted for the 500th anniversary of the conquest of Istanbul. The material with which it was made is halfway between copper and nickel, certainly not a precious metal anyway. Being a commemorative coin, the circulation is reduced to limited quantities compared to normal issues, this means referring to a coin with a rare value, sought after by collectors all over the world given the importance and the event for which it was produced.
However, what interests a collector remains the interest aroused by a coin that does not come into his hands frequently. And in the case of these three specimens, we are talking about three rarities.
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