Dear all,
Do you have any hyper-inflated currencies e.g Zimbabwe dollars or German Marks from the 1920s and if so please let me know down below. Thank you for the responses on my last post ('do you look at the rarity index for coins you own')? I was flabbergasted by all the responses to my post. I will read all the responses.
Best wishes for 2022
From,
The Money Man
Hyper Inflation
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Turkey
The first coin is an 1862 (Year 2 Abdul Aziz AH 1277 +1) 20 Qirsh (Kurus) coin of Ottoman Turkey, this coin is 36mm in size and weighs 23 grams, it is 83.3% silver. This coin would equivulate to 20 Kurus in the old Lira. By 2004 this coin had a face value of $0.000000004.
The ribbons on it suggest Turkish, the slightly larger ones are Egyptian coins (Eliayet as opposed to "minted at Al Qastinyah - Constantinople").
1862 Abdul Aziz ---------------------1940 Lira and 25 Kurus
Not a huge fan of inflation coins, but one of my favourite places is Turkey, they had serious inflation for years! I took some photos of my coins from the 1930s when the Turkish pound was stable down to now when its unstable again.
When Turkey became modern in 1926, they retained the decimalised Ottoman pound which was 40 Para = 1 Kurus, 100 Kurus (Qirsh/Piastres) = 1 Turkish Pound (Lira). Ironically Para coins were issued up to 1940. A Turkish lira was worth around 40 American cents in 1938, well down from the value of around $4 USA and 21/- British in 1909. WW1 did a number on Turkey and the Ottomans, and battles with the Greeks in 1921 also racked the currency.
These two photos show 3 coins, a silver 25 Kurus and 1 Lira dating from late 30s, early 40s. By the 1950s the inflation had started and coins were issued in base metal. This silver Lira is 83.3% silver and weighs 10 grams! The 1 Kurus is aluminium, but 25 Kurus coin is a dime sized silver piece!
From 1957 to around 1979 the value lost slowly to around 10 Lira to $1 by 1978.
1956 - 1979 Turkish Lira, pre inflation coins
This image shows coins issued 1956 (Brass 25 Kurus) through the 1960s and 1970s (Copper 1, 5, 10 Kurus) and Coppernickel 25, 50 Kurus, 1 and 2½ Lira (10,000 Para) 5 Lira were also issued, this coin was 32mm in size. The 1 Kurus is worthless now and just 14mm in size!
In the late 70s alumium 5 and 10 Kurus appeared, but by 1981 it was worse with the first hyper inflated coins of sluminium 5 and 10 lira, by 1983 it was 100 Lira to a $1 and falling
1970s/80s Aluminum inflation coins
Old photos I have a small aluminium 5 Lira too, here is the aluminium 5 Kurus from 1975 as well, as Bronze was too expensive for this value.
The 1980s saw more inflation and the 1960s/70s were no longer used, there was double and triple figure inflation each year. This image below shows coins from 50 to 1000 Lira all late 1980s.
Late 80s inflation coins
Notice the 2 types of 100 Lira, coins shrank in size from year to year. By the 1990s the hundred became 1000s and then 10000s. Small and thick 10k and 25 kin (Bin Lira) appeared in the mid - late 1990s
1990s/2000s Inflation coins
By 2000 the inflation was the 100ks and there are 2 x 100 bin lira - one smaller than the other. 250k and 1 million coins were also issued. These coins were issued mostly in brass, aluminium bronze and other muck metals - but no really cheap aluminium like the 1970s/80s.
Finally in 2005 some stability came and the currency was revalued 1 million old lira = 1 new (Yeni Lira). Coins from 1 yeni kurus to 1 yeni Lira came out, and the 50 yk and 1 yl were bimetallic.
Some of these coins, again all have portraits of Ataturk, although the love affair with him may end as Erdogan takes control.
In 2009 new designs came as the Yeni was dropped and it just became the plain old Lira again. However the currency did not hold and it dropped from 2 lira to a $1 down to 6 by 2020. Even worse is Dec 2021 saw the value of it halve now its 17 to a US dollar dropping from 9 in one day.
Even worse is Turkey will be a banknote country soon as the 1 Lira coin, its highest denomination now is worth just 6 cents American. Turkey has been hit hard by a hardline Islamic control fanatic called Recep Tayyan Erdogan and Covid in which some 6 million cases have happened. Despite this, Turkey is still a model in the Middle East for stability and wealth.
The first coin is an 1862 (Year 2 Abdul Aziz AH 1277 +1) 20 Qirsh (Kurus) coin of Ottoman Turkey, this coin is 36mm in size and weighs 23 grams, it is 83.3% silver. This coin would equivulate to 20 Kurus in the old Lira. By 2004 this coin had a face value of $0.000000004.
The ribbons on it suggest Turkish, the slightly larger ones are Egyptian coins (Eliayet as opposed to "minted at Al Qastinyah - Constantinople").
1862 Abdul Aziz ---------------------1940 Lira and 25 Kurus
Not a huge fan of inflation coins, but one of my favourite places is Turkey, they had serious inflation for years! I took some photos of my coins from the 1930s when the Turkish pound was stable down to now when its unstable again.
When Turkey became modern in 1926, they retained the decimalised Ottoman pound which was 40 Para = 1 Kurus, 100 Kurus (Qirsh/Piastres) = 1 Turkish Pound (Lira). Ironically Para coins were issued up to 1940. A Turkish lira was worth around 40 American cents in 1938, well down from the value of around $4 USA and 21/- British in 1909. WW1 did a number on Turkey and the Ottomans, and battles with the Greeks in 1921 also racked the currency.
These two photos show 3 coins, a silver 25 Kurus and 1 Lira dating from late 30s, early 40s. By the 1950s the inflation had started and coins were issued in base metal. This silver Lira is 83.3% silver and weighs 10 grams! The 1 Kurus is aluminium, but 25 Kurus coin is a dime sized silver piece!
From 1957 to around 1979 the value lost slowly to around 10 Lira to $1 by 1978.
1956 - 1979 Turkish Lira, pre inflation coins
This image shows coins issued 1956 (Brass 25 Kurus) through the 1960s and 1970s (Copper 1, 5, 10 Kurus) and Coppernickel 25, 50 Kurus, 1 and 2½ Lira (10,000 Para) 5 Lira were also issued, this coin was 32mm in size. The 1 Kurus is worthless now and just 14mm in size!
In the late 70s alumium 5 and 10 Kurus appeared, but by 1981 it was worse with the first hyper inflated coins of sluminium 5 and 10 lira, by 1983 it was 100 Lira to a $1 and falling
1970s/80s Aluminum inflation coins
Old photos I have a small aluminium 5 Lira too, here is the aluminium 5 Kurus from 1975 as well, as Bronze was too expensive for this value.
The 1980s saw more inflation and the 1960s/70s were no longer used, there was double and triple figure inflation each year. This image below shows coins from 50 to 1000 Lira all late 1980s.
Late 80s inflation coins
Notice the 2 types of 100 Lira, coins shrank in size from year to year. By the 1990s the hundred became 1000s and then 10000s. Small and thick 10k and 25 kin (Bin Lira) appeared in the mid - late 1990s
1990s/2000s Inflation coins
By 2000 the inflation was the 100ks and there are 2 x 100 bin lira - one smaller than the other. 250k and 1 million coins were also issued. These coins were issued mostly in brass, aluminium bronze and other muck metals - but no really cheap aluminium like the 1970s/80s.
Finally in 2005 some stability came and the currency was revalued 1 million old lira = 1 new (Yeni Lira). Coins from 1 yeni kurus to 1 yeni Lira came out, and the 50 yk and 1 yl were bimetallic.
Some of these coins, again all have portraits of Ataturk, although the love affair with him may end as Erdogan takes control.
In 2009 new designs came as the Yeni was dropped and it just became the plain old Lira again. However the currency did not hold and it dropped from 2 lira to a $1 down to 6 by 2020. Even worse is Dec 2021 saw the value of it halve now its 17 to a US dollar dropping from 9 in one day.
Even worse is Turkey will be a banknote country soon as the 1 Lira coin, its highest denomination now is worth just 6 cents American. Turkey has been hit hard by a hardline Islamic control fanatic called Recep Tayyan Erdogan and Covid in which some 6 million cases have happened. Despite this, Turkey is still a model in the Middle East for stability and wealth.
I love coins. Especially silver, gold and anything really old.
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
Member of the Royal Numismatic Society of New Zealand and the Auckland Numismatic Society
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Quote: "DoubleEggbert56"There certainly were quite a few hyperinflation issues from Greece during WWII, eventually reaching face values as high as 100 000 000 000 Drachmai. The drachma was revalued in 1944 at 50 000 000 000 old drachmai to 1 new drachma. However, this also suffered from high inflation, and by the 1950s there was a note with a face value of 50 000 drachmai. In 1953, it was then revalued a second time, this time 1 000 to 1, and though the value did deccline over time, it was more stable.I didn't know
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