97) Coins and Banknotes of Turkey:Liras and Kurus

97) Turkish Coins and Banknotes :Liras and Kurus:

Historical development of the Turkish Lira:

 Kurus were introduced for the first time in 1688 as a silver coin equal to the Spanish dollar as a currency in Turkey. (“Kurus” is a name derived from the German word “Groschen” or Ottoman Turkish “gurus”).

In the 18^th and 19^th centuries it had lost much of its value.
At the beginning of the 19^th century, silver coins were in circulation for 1 akce, 1, 5, 10 and 20 para and 1, 2, and 2 ½ kurus together with gold coins designated in “zeri”, “mehbub” and “altin”.

Later denominations of billon 1, 10 and 20 para and other smaller denominations of kurus were minted.

In 1844, the Ottoman Gold Lira became the Standard denomination, sub-divided into 100 kurus which circulated till 1970s, when it became obsolete due to inflation.

The Ottoman Lira circulated as  the currency of the Ottoman Empire between 1844 and 1923.

It replaced the kurus as the principal unit of currency, with the kurus continuing to circulate as a 100^th part of the lira.

Meanwhile, the para continued to be used parallely with 40 paras being a 40^th part of a kuru.

Between 1844 and 1855, coins were introduced in denominations of 1, 5, 10, 20 para, ½ para, 1,2,5,10 and 20 kurus and ¼, ½, 1, 2 ½  and 5 lira.

Para denominations were struck in copper, kurus in silver and liras in gold.

The 1 para was discontinued in 1859 and higher denominations being phased out between 1863 and 1879.

In 1899, billon 5 and 10 para denominations were introduced.

In 1910 nickel 5, 10, 20, 40 kurus were minted.

a)  The First Turkish Lira (1922 – 2005):

In 1928, the aluminium bronze coinage introduced in 1922, consisting of 100 para, 25 (nickel), 10 and 5 kurus (both aluminium bronze), ceased to be issued.

In 1934, these coins were supplemented by 100 kurus (silver).

In 1935, 1 Turkish Lira, 50 kurus and 25 kurus (all three denominations in silver) and 10 kurus, 5 kurus and 1 kuru (all three denominations in cupro-nickel were issued.

During 1940 – 1942 10 para coins were issued for the last time.

In 1944, the 25 kuru coins were minted in nickel-brass as the cost of minting this denomination in silver had become prohibitive due to World War II.

Between 1947 and 1949, 25 kuru coins were minted in brass as were 10 kuru, 5 kuru, 2 ½ kuru and 1 kuru coins.

In 1948, the 1 Turkish Lira and 50 kuru coins stopped being minted in silver and collectors/speculators withdrew them from circulation.

In 1957, the 1 Turkish Lira coin was minted in cupro-nickel.

Between 1958 and 1969, 10, 5 and 1 kuru coins were minted in bronze and steel 25 kurus and 1 Turkish Lira were issued. A new denomination of 2 ½ Turkish Liras was introduced in steel.

In 1971, steel 50 kuru coins were issued.

In 1974, five Turkish Lira coins were issued.

In 1975, bronze coins of 10, 5 and 1 kuru were replaced by Aluminium coins which were issued till 1980.

In 1981, with the cost of minting coins becoming more expensive, the 1 and 5 Turkish Lira coins were minted in aluminium. A new denomination of 10 Lira coin was released.

In 1984, new denominations of 20, 50 and 100 Lira coins were released/issued.

To catch up with inflation:

25 Turkish Lira (1985), 500 Turkish Lira (1988), 1000 Turkish Lira (1990), 2500 Turkish Lira (1991), 5000 Turkish Lira (1992), 10000 Turkish Lira (1994), 25000 Turkish Lira (1995), 50000 Turkish Lira (1997), 100000 Turkish Lira (1999) and 250000 Turkish Lira (2002) denomination coins were minted.

The above is an assorted collection of First Turkish Lira coins and stamps. This is the best scan image I could manage. The coin on top is a 1 Lira coin (1988), below it is a 5000 Lira coin (issued in 1998), further below, we can see a partially covered 10 Lira coin, on the right of that coin is a 25 kuru coin (1969). In the last line one can see a 2 ½ Lira coin (1971), a 1 Lira coin (1977) and a 50 kuru coin (1974).

The above is another assorted collection of First Turkish Lira coins. In the top row is a 1 Lira coin (1981). In the second row is a 5 Lira coin (1983), while in the third row is a 10 Lira coin (1987) and a 25 Lira coin (1985). In the bottom row is a 1000 Lira coin (1991), a 1 Lira coin (1977), a 50 kuru coin (1974) and a 25 kuru coin (1966).

b)  The second Turkish Lira “New Turkish Lira” (“Yeni” T.L. coins (2005 – 2008) :

From  01.01.2005 Turkey faced with the undernoted problems, decided to drop the millions from its currence/coinage and reintroduce the Standard denomination of 1 Turkish Lira to 100 Kurus with the introduction of the new Lira:

     The multiple digits caused accounting and data             processing problems.

Turkey had faced hyperinflation and the rate of inflation mostly exceeded 30%. The Turkish Lira had stood devalued to about 1800000 to a USD. (At present, with the YTL, the hyperinflation has now gone and inflation has been reined in to around 8-10 %).

So as to avoid confusion between the First and the Second Turkish Lira issues, the second Turkish Lira was called the “new Turkish Lira” (YTL) between the period of transition 1.01.2005 and 31.12. 2008, as both the series of coin issues were in circulation during this period.

During the period of transition, it was compulsory for all shopkeepers service providers to display prices at both the old and new rates.

Also, during the period of transition, it was compulsory for all shopkeepers to display prices at both the old and new rates.

The old Turkish Lira ceased to be legal tender wef 31.12.2005.

 Any remaining old Turkish Lira was required to be converted at either the Turkish Central Bank or T.C. Ziraat Bank branches.

In 2005, new coins were introduced in the denominations of 1, 5, 10 (all three denominations had Brass metal composition), 25 (cupro-nickel) and 50 new (“yeni”) kurus and 1 new (“yeni”) Turkish Lira (metal composition: bimetallic).

Importantly, all these coins carry the portrait of Mustafa Kemal Ataturk, the founder of the Turkish Republic.

Interestingly, the coins issued in the 50 “new” kurus and 1 “new” Turkish Lira resembled the circulating 1 and 2 Euro coins in the Euro Zone in both size and composition both of which had a higher value than the YTL (“Yeni” Turkish Lira”) coins leading to confusion among unsuspecting users as well as arbitrage opportunities to speculators. So much so, that several coin-vending machines in the Euro zone were accepting 1 YTL coins as 2 Euro coins, which had a value more than 4 times the YTL. As such, several coin vending machines in the Euro Zone had to be upgraded so as stop this.

c)  The Third Turkish Lira( 2009 onwards):

From 01.01.2009, the term “new” (“yeni”) was dropped from the second Turkish Lira coins being minted, as it was assumed that sufficient time had passed for users to familiarize themselves with the coins issued under the second Turkish Lira.

The following denominations of coins are presently being issued and are in circulation in Turkey:

The reverse of all these coins has the inscription “TURKIYE CHUMHURIYETI” and has a portrait of Mustafa Kemal Ataturk.

One Kuru:

The obverse of the one (1) Kuru coin shows the denomination of the coin, the “Crescent and Star” emblem of Turkey, a “snow-drop” and the year of minting.

The specifications of the coin are: Metal Composition: 70% copper and 30% zinc; Diameter (size): 16.5 mm; Thickness: 1.35 mm Weight: 2.2 gms. Edge: Plain.

Five Kurus:

The obverse of the five kurus coin shows the denomination of the coin “5” in a circle, the “Crescent and Star” emblem of Turkey on the top of the inner Circle, the “Tree of Life motif” on the right of the numerical denomination of the coin and the year of minting 2010 on the bottom periphery. 

(In Turkey, the “Tree of Life” is a wide-spread motif, used in carpets, kilims, scarves, coloured tiles in palaces, textiles etc. The trees represented are mostly beech, oak and cypress. There are many legends in Turkey on the Tree of Life and it is associated with fertility. One legend goes thus: one night a heavenly light shown upon an evergreen tree, and nine months later the Ughurs found five babies under the tree. One of the babies Bogu Han grew up to be one of the mightiest rulers of the Ughurs).

The reverse of the above coin.

The specifications of the coin are: Metal Composition: 65%, 18% nickel and 17% zinc; Diameter (size): 17.5 mm; Thickness: 1.65 mm Weight: 2.9 gms. Edge: Plain.

Ten Kurus:

The obverse of the ten kurus coin shows the denomination of the coin “10” within a circular design, the “Crescent and Star” emblem of Turkey on the top periphery, the “Rumi motif” in the background of the numeral “10” and the year of minting “2009”, “2010” and “2011” on the bottom periphery. (The “Rumi” is one of the leading motifs of the Turkish decorative Arts, i.e. in tile work, clothing, wood carving etc. The earliest example of the Rumi Motif is depicted on the wing of a sea-monster represented on the ornamental frescoes made in the 9^th centuries by Uygur Turks).

The reverse of the above coin.

The specifications of the coin are: Metal Composition: 65%, 18% nickel and 17% zinc; Diameter (size): 18.5 mm; Thickness: 1.65 mm Weight: 3.15 gms. Edge: Plain.

Twenty Five Kurus:

The obverse of the twenty five kurus coin shows the denomination of the coin “25” in a square, the “Crescent and Star” emblem of Turkey on the top periphery, the “Kufic calligraphic”” forming the enclosed square around the numeral “25” and the year of minting “2011” on the bottom periphery.

The reverse of the above coin.

The specifications of the coin are: Metal Composition: 65%, 18% nickel and 17% zinc; Diameter (size): 20.5 mm; Thickness: 1.65 mm Weight: 4.0 gms. Edge: Reeded.

 Fifty Kurus:

The obverse of the fifty kurus coin shows the denomination of the coin “50” in a circle, the “Crescent and Star” emblem of Turkey on the top periphery, the “Bosphorus Bridge and Istanbul silhouette” in the background of the  numeral “50” and the year of minting “2009” and “2010” on the bottom periphery.

The reverse of the above coin.

The specifications of the coin are: Metal Composition: Outer Ring: 65%, 18% nickel and 17% zinc. Inner/Centre Ring: 79% copper, 4% nickel and 17% zinc; Diameter (size): 23.85 mm; Thickness: 1.9 mm Weight: 6.8 gms. Edge: Reeded.

1 Turkish Lira (100 kurus):

 

The obverse of the one (1) Turkish Lira coin (100 Kurus) coin shows the denomination of the coin “1” (Turkish Lira) in the centre, the “Crescent and Star” emblem of Turkey on the top periphery, , the “Rumi motif” in the background of the numeral “1” and the year of minting “2009”, “2010” and “2011” on the bottom periphery.

Interestingly, 1 Turkish Lira has been issued in both coins and banknotes.

The reverse of the above coin.

The specifications of the coin are: Metal Composition: Outer Ring: 79%, 4% nickel and 17% zinc. Inner/Centre Ring: 65% copper, 18% nickel and 17% zinc; Diameter (size): 26.15 mm; Thickness: 1.9 mm Weight: 8.2 gms. Edge: T.C. letters and a tulip mint mark.

Republic of Turkey Banknotes/ currency issues:

In 1862, The “Banque Imperiale Ottomane” (Imperial Bank of Ottoman) issued the first paper currency “Kiame” in the denomination of 200 kurus. The languages used were Turkish and French.

In 1873, Banknotes in the denomination of 5, 2 and 1 lira were issued.

In 1876, smaller denomination notes i.e. for 200, 50, 20, 10, 5 and 1 kuru were issued.

From 1912, the task of issuing paper currency was taken over by the Ministry of Finance. They issued Banknotes in the denominations of 5 and 20 kurus and ¼, ½, 1 and 5 lira in the same year.

In 1913, 1 and 2 ½ kurus and 2 ½, 10, 25, 50, 100 and 500 lira banknotes  were issued.

In 1914, 1000 lira notes were issued.

In 1926, the Ministry of Finance introduced Banknotes for the Republic of Turkey in the denominations of 1, 5, 10, 50, 100, 500, 1000 Turkish Lira. Each denomination portrayed Mustafa Kemal Ataturk. This was the last time that French was used on the banknotes along with the Turkish language.

Between 1937 and 1939,  new notes were introduced with Turkish texts in the Latin alphabet with the portrait of the then President Ismet Inonu.

In the early 1950s, Ataturk’s portrait again came back on the Turkish Banknotes.

 The Front of a Fifty Thousand Turk Lirasi Banknote showing the date of issue as 1970.

  The Back of the above Fifty Thousand Turk Lirasi Banknote.

Till date “Nine Series” of Banknotes have been issued termed as the “Nine Emissions”:

The recent emissions are the Eighth (E8) issued during the transitional period 01.01.2005 to 31.12.2008 and Ninth Emission (E1) Banknotes issued from 01.01.2009 onwards. Banknotes of the E-8 Emmission or E-8 Group were withdrawn from circulation on 31.12.2009, but can be redeemed at branches of the Central Bank until 31.12.2019.

 New (“Yeni”) Turkish Lira Banknotes (YTL Notes) (E 8) “Emission 8”:

The new TL note designs are very similar to the old Lira designs. The main difference is the reduction in the number of zeros in the New Turkish Lira Banknotes. To avoid confusion, the banknotes denominations had similar designs and colours as the previous ones.

 Ataturk, the founder of the Turkish Republic still features on all the notes and the pictures on the back remain the same.

The Back of the 100 New Turkish Lira (YTL – “Yuz Yeni Turk Lirasi”) banknote (which would have been equivalent to 100 million old Turkish Lira – TRL although this denomination banknote was not issued) depicts a picture of “Ishak Pasa Palace” near Dogubayazit in Far Eastern Turkey.

The Back of the 50 New Turkish Lira (YTL – “Elli Yeni Turk Lirasi”) banknote (which would have been equivalent fifty million Old Turkish Lira – TRL, although this denomination banknote was not issued) depicts a picture from “Cappadocia”, Central Turkey.

The Back of the 20 New Turkish Lira (YTL – “Yirmi Yeni Turk Lirasi”) banknote (which replaced the 20 million Old Turkish Lira (TRL – “Yirmi Milyon Turk Lirasi”) depicts the ruins of Ephesus in Western Turkey.

The Back of the 10 New Turkish Lira (YTL – “On Yeni Turk Lirasi”) banknote (which replaced the 10 million Old Turkish Lira (TRL – “on Milyon Turk Lirasi”) depicts the Turkish sailor Piri Reis’s World map from 1513.

The Back of the 5 New Turkish Lira (YTL – “Bes Yeni Turk Lirasi”) banknote (which replaced the 5 million Old Turkish Lira (TRL – “Bes Milyon Turk Lirasi”) depicts a picture of Ataturk’s mausoleum in Ankara.

The Back of the 1 New Turkish Lira (YTL – “Bir Yeni Turk Lirasi”) banknote (which replaced old 1 million Old Turkish Lira (TRL – “Bir Milyon Turk Lirasi”), depicts the Ataturk Dam from Sanliurfa in South Eastern Turkey.

 The Front of the old Turkish Lira - "Bir Milyon Lirasi"Banknote.

The Back of the above old Turkish Lira - "Bir Milyon Lirasi"Banknote.

The 50 New Turkish Kurus coin (YKr) replaced the old 500000 Lira Banknote (TRL – “Besyuz Bin Turk Lirasi”).

The 25 New Turkish Kurus coin (Y Kr – “25 Yeni Kurus”) replaced the old 250000 lac Lira Banknote (TRL – Byldelli Bin Turk Lirasi).

The 10, 5 and 1 New Turkish Kurus (Y Kr) were equivalent to the old 100000, 50000 and 10000 old Lira (not in circulation).

Banknotes of the “present Series” or the “Ninth Emission” (E9):

On the Front all the Notes in this Series as in most of the Series/Emissions before it features the portrait of Mustafa Kemal Ataturk. The main focus of the E9 Series is on highlighting great Turkish personalities, instead of geographical, cultural or architectural themes.

 

On the Back, the 5 Lira (Lirasi) Banknotes show “Ord. Prof. Dr. Aydin Sayili”, diagrams of solar system, an atom, an ancient cave and a left handed Z-DNA helix. 5 Lira Banknotes are brown in colour. The size of the Note is 130 mm x 64 mm.

Brief Note on Ord. Prof. Aydin Sayili (1913 – 1993):

Ord. Prof. Aydin Sayili as interested in many areas of Science history, mainly the history of Astronomy and conducted unique studies in this field. He published his masterpiece “Observatory in Islam and its General Place in the History of the Observatory”.

Dr. Sayili put forth the contribution of the Turks, the Islamic World, the Mesopotamians and other civilizations to science and the formation of Western civilization.

More than 140 works/books/papers are attributed to him written in Turkish, English, Arabic and Persian.

 On the Back, the 10 Lira (Lirasi) Banknotes show “Ord.Prof. Dr.Cahit Arf (1910-1997)”, the Arf Invariant, Arithmetic Series, an Abacus, and a Binary. 10 Lira Banknotes are red in colour. The size of the Note is 136 mm x 64 mm.

Brief Note on Ord. Dr.Cahit Arf (1910 – 1997):

Ord. Dr. Cahit Arf was a world renowned Turkish mathematician famous for his theorems which are named after him.

Ord. Dr. Cahit Arf made significant contributions to Mathematics with his works in numerous fields like Algebra, Number theory, Elasticity theory, Analysis, Geometry and Engineering Mathematics and had more than 20 original works to his credit. He acquired a world-wide reputation with his achievements in Algebra and for his studies on solving synthetic geometry problems with the help of a ruler and compass.

He ranks among prominent Mathematicians with his studies such as “Arf Invariant” of quadratic form, “Arf Rings” and “ARF Closure”. In addition to these he also introduced the “Hasse – Arf Theorem” to Mathematic literature.

He won several International recognitions.

 On the Back, the 20 Lira (Lirasi) Banknotes show “Architect Kemaleddin”, Gazi University main building, an Aqueduct, a circular motif and a cube-globe-cylinder symbolizing architecture. The 20 Lira Banknotes are green in colour. The size of the Note is 142 mm x 68 mm.

Brief Note on Architect Kemaleddin (1870 – 1927):

Architect Kemaleddin was one of the pioneers of the National Architecture trend and was inspired by the Ottoman and Islamic Architecture blending it with German Architectural styles as well as his own new styles. He developed his own style and vision on National Architecture. He developed his own style and vision on National Architecture.

He worked on the restoration of historical buildings and the design of new buildings.

 He successfully carried out the reparation of the Al-Aqsa Mosque in Jerusalem. Architectural elements included in his style are – Arches, Eaves and China tilting on the facades of buildings, highlighted symmetry and traditional styles with tower-like protrusions and cornices placed on facades.

Some of his major works are: Mosques of Bostanci, Bakirkoy, Bebek and Yesilkoy, Tomb of Sultan Resat, Gazi Osman, Mahmud Sevket, Cevat, Ali Riza and Husnu Pashas, Ankara Palace Project etc. apart from schools and residential buildings.

On the Back, the 50 Lira Banknotes show “Fatma Aliye Topuz”, a flower and literary figures. The 50 Lira Banknotes are orange in colour. The size of the Note is 148 mm x 68 mm.

Brief Note on Fatma Aliye (1862 – 1936):

Fatma Aliye was the first Turkish female philosopher and also one of the first female novelists of Turkish Literature. She started her career in 1889 under the pseudonym “Bir Hanin” (a lady) when she translated “Volonte” by George Ohnet into Turkish under the title “Meram”. Later, she took the pseudonym “Mutercime – I Meram” (“The female translator”) in her later works on philosophy, biography and literature. Her first novel “Muhadarat” (1892) had emotional themes.

She lived during the Tanzimat period and defended women’s rights during her time writing on subjects such as a women’s place in society, family, marriage and importance of women’s education. Towards this end, she established “Sevkat – I Nisvan Dernegi” (“Women’s Care Association”).

She was also a poet and her poems characterized themes such as patriotism, women’s rights and criticism for the admiration of the Western culture.

Some of the novels attributed to her include “Hayal ve Hakikat” (“Dream and Truth”), “Muhadarat”, “Ref’et”, “Udi” (the “Lute player”), “Enin”, “Ahmed Cevdet Pasa ve Zamani” (“Ahmed Cevdet Pasha and his time”). She also wrote a book on philosophy “Teracim – I Felasife”.

On the Back, the 100 Lira Banknotes show “Buhurizade Mustafa Efendi (Itri)”, notes, instruments and Mevlevi figure. The 100 Lira Banknotes are blue in colour. The size of the Note is 154 mm x 72 mm.

Brief Note on “Buhurizade Mustafa Efendi (Itri) (1640 – 1712):

Buhurizade Mustafa Efendi (known as “Itri”) was the founder of Turkish classical music during the time of Mehmet IV and performed in “fasils’ (concerts). Along with Abdulkadir Meragi (1353 – 1435) and Hammamizade Ismail Dede Efendi (1778 – 1846), he is considered to be one of the three most important composers who guided the development of Turkish music.

Although his compositions available in musical notes known today are about 42, at least 1000 pieces of music are attributed to him.

His approach to and interpretation of religious music reflected a novel style. “Segah Kurban Bayrami Tekbiri” performed by the whole congregation during the performance of ritual prayers on the first days of religious festivals; “Segah Salat – i Ummiye” performed during the visits to relics; “Segah  Ayin – i”,  “Serif – I”, Mevlevi, “Nuhuft Pesrevi”, Beyati Beste”, “Mahur Beste”, “Segah Yuruk Semai Maye Cum’a Salati” and Dilkes – Haveran Gece Salasi” are some of his famous works.

He also had an interest in poetry and calligraphy. He studied a type of calligraphy called “Talik” and created aesthetic works and also became well known in this field. Itri wrote several poems, enough to make a “Divan’ (meaning – a “collection of poems or verses”).

On the Back, the 200 Lira Banknotes show “Yunus Emre”, Yunus’s mausoleum, a rose, a pigeon and the verse “Sevelim sevilelim” (meaning – “Let us love, let us be loved”). The 200 Lira Banknotes are Violet in colour. The size of the Note is 160 mm x 72 mm.

Brief Note on Yunus Emre (1238 – 1320):

Yunus Emre was a pioneer on mysticism in Anatolia and in Turkish poetry. He developed a religious belief called “Vahdet – i Vucud” (or “Unity of Existence”) which internalizes the essence of the Koran and attempts to explain the secrets of the “one and only creator”. Some verses of Yunus Emre reveal the influence of Mevlana Celalettin Rumi, who died in 1273.

Nearly all the concepts like ethics, religion and love embraced by mysticism are found in Emre’s verse.

Emre believed that becoming a dervish was to become mature in a mystical train of thought and that this is being in a constant state of love and acceptance by God as well as controlling the Will and overpowering it, opposing fighting, evil thinking, showing off, enmity and formalism. He emphasized that everyone deserved to be loved irrespective of differences in religion, sect, race, nationality, position and colour.

Two of his well-known works are “Risalet – un Nushiyye” (a mystic, morally related and religious work written as a “mesnevi” or rhyming couplets with prosodic metres and “Divan” (meaning a “collection of poems or verses” compiled 70 years after his death). UNESCO dedicated 1991 to Yunus Emre as “The International Yunus Emre Year”.

(The above coins and Banknotes are from the collection of Ajit George. The old Lira Banknotes including the 5 Turk lirasi Banknote bearing prefix number 386 are from the collection of Jayant Biswas. 
Scanning of Coins and Banknotes done and Article researched and written by Rajeev Prasad)