New Turkish Lira Drops the "New"

[chrisild]

As from 1 January the "New Lira" in Turkey will simply be called "Lira". Basically the currency is only renamed this time, but there will also be new coins and notes.

In 2005 there was a currency reform; six zeros were slashed back then. This time it's just the word yeni (new) that will be dropped - pretty much like what the UK did in 1982 when the "New Penny" became a plain "Penny" again. However, the Turkish coins and notes will, at least partly, get a redesign. According to this article (n-tv, German) the new notes will not only feature Kemal Atatürk but also Turkish scientists, writers and artists.

The new designs will be presented in October. Also, a new 200 Lira denomination (ie. €114 these days) will be added to the current range of notes. The new notes and coins are supposed to be different from those of other currencies. One of the problems with the current coins is that the 50 New Kurus and 1 New Lira coins are almost €1 and €2 lookalikes ...

Christian

[BC Numismatics]

Christian,
  Perhaps the current New Lira issue will still remain legal tender,even though the currency has been renamed,but being worth the same.

Aidan.

[chrisild]

Yes, it will be possible to use the current coins at least for some time: During 2009 both old and new notes/coins will be in circulation. After 31 Dec 2009, the old notes can be redeemed for ten years; not sure about the coins. Here are images of the new coins and notes: http://www.tcmb.gov.tr/tlkampanya/fiziki_gorunum.html

This is the new 1 lira coin:

To view the other coins (or notes), use the link above and click on any denomination to see a larger photo.

Edit: Also see http://www.worldofcoins.eu/forum/index.php/topic,2150.0.html

Christian

[BC Numismatics]

Christian,
  It's a shame that the Turks didn't change the designs on the obverses as well.

Aidan.

[chrisild]

Sure, on one hand this Atatürk "cult" (not just on coins and notes) seems odd. On the other hand, he certainly was the "father" of modern Turkey in many regards, be it turning (or attempts thereof) the country into a secular system or - think of the characters of the coins - introducing the Latin alphabet. While I did not find the yeni lira/kurus pieces very attractive (Atatürk on one side, a very plain design on the other), the 2009 pieces are better ...

Christian

[Figleaf]

I bet there'll be people who accept them as euro coins again, independent of diameter.

Peter