Chronology of the Republican Era Currency

Part 1

(from Declaration of the Republic until 1950)

October the 29th, 1923

The Turkish Republic was declared on the 29th of October, 1923. However, the first coins could be struck a year later.

In order not to hinder daily trade, coins and banknotes that the newly formed Republic inherited from the Ottoman Empire (*1) remained valid.

1924

The Law allowing the Republic to strike its own money was passed in February of 1924. In August, the 10 Kuruş, in September the 5 Kuruş and in October the 100 para bronze coins were put into circulation (*2). The coins inscribed with old text were designed by Ahmet Mesrur Durum (aka Mesrur Izzet Bey). Customary units were retained, 1 Lira was equal to 100 Kuruş, 1 Kuruş was equal to 40 Para.


1925

On 5th of October, 1925, the first golden coins of the Republic were produced. The 5 Lira pieces were struck ceremoniously. The very first piece take out of the press was entrusted to the Minister of Finance Abdülhalik Renda, to be delivered to the president Mustafa Kemal Atatürk(*3).

Meanwhile, the 25 Kuruş nickel coins were released into circulation. The public nicknamed them the “buffalo eye”, due to their large size.


1926

Until 1926, the Ottoman fiscal calendar was the Rumi Calendar. In the Republican era, Türkiye switched to using the Gregorian Calendar.

Then the coins of 1926 and forward had the dates inscribed in that format. However, until the alphabet reform in 1928, years were still written in Eastern Arabic numerals as (١٩٢٦)  (*4)

Ankara golds in two and a half (2½) Lira, One Lira, Half (½) and Quarter (¼) Lira coins were also introduced.


1927

Embellished Monnaies-de-Lux gold coins were introduced. They were struck in five types like the “Ankara Golds” the bullion coins of the Republic.

The first banknotes of the Republic were released on 5th of December 1927. The designs were made by Artist Ali Sami Boyar (*5) and the printing was done in London. The set of 1, 5, 10, 50, 100, 500 and 1.000 Lira are known as the “First Emission” within the Turkish financial circles.

Because the banknotes were printed before the alphabet reform, the texts are in Ottoman Turkish Arabic, and the value of the notes are also indicated in French; retaining the customs from the Ottoman Bank notes.

Due to the fact that banknotes were convertible to the gold standard, large denominations like 500 or 1.000 Lira had a great purchasing power. That is why it was unlikely that they were kept for collection purposes. Only few have remained to date.


1931

Part of the reforms of the Republic, a modified version of the Latin letters was accepted as the official alphabet in 1928. In 1931, drafts for the banknotes in new letters were made. There are few specimens of 50 and 1.000 Lira notes that survived to day, however they were not mass printed for circulation (*36).


1934

Türkiye was also affected by the Great Depression of 1929,  hence releasing any currency in the new alphabet was not possible until 1934.

The first coin with the new letters was 100 Kuruş of 1934. For its design, a contest was organised. The winning coin design bore an effigy of Mustafa Kemal Atatürk above branches of olive on the obverse, and a Crescent with star encircled with ears of wheat and oak branches. The design was the artwork of Artist Ali Cemal.

The word Cumhuriyet (Republic) was written with an “ü” letter as the exact orthography was not yet settled. Previous Arabic text lacked all the vowels Turkish language uses, hence transition to the new Turkish alphabet created such discrepancies for some time (*8).


1935

A new set of coins consisting of 1, 5, 10, 25 ve 50 Kuruş coins was introduced. The designs were the work of Percy Metcalfe.

Inherently valuable silver pieces bore the effigy of Mustafa Kemal Atatürk, facing left on the obverse and a single ear of wheat with the denomination on their reverse sides.

The less valuable cupronickel pieces had crescent and star in a pre-standardized form on their obverse, and oak branches for 10 Kr piece, olive branches on the 5 and 1 Kr pieces reverse sides. The designs were of the typical art deco style of Metcalfe.


 

1937

100 Kuruş was withdrawn, and silver coins denominated at 1 Lira value were introduced. Atatürk’s effigy remained as on the 50 and 25 Kr pieces, but the reverse had crescent and star with two ears of wheat. Examples of this coin dated 1935 exist but are very rare (*42 p.50).

First note of the 2nd emission; 5 Lira was released.


1938

Monnaies-de-Lux gold coins bearing Ataturk’s effigy were minted. Their design used the floral frame from V. Mehmed Resad’s 500 Kurus gold coin; the Ottoman Coat of Arms being replaced by an effigy of Ataturk within a ring of 32 stars, the reverse bearing a calligraphic inscription that reads Türkiye Cümhuriyeti (Turkish Republic).

1 Kurus coins were redesigned in undulated form because they were being confused with the silver 25 Kuruş pieces of same diameter. Examples of this coin dated 1938 with 10 bulges exist but are very rare (*42 p.31).

10, 50 and 100 Lira banknotes bearing texts in the new Latin letters were released as part of the 2. Emission.


1939

Two and a half (2½), 500 and 1.000 Lira banknotes were released continuing the 2. emission.


1940

Silver 1 Lira coins bearing the portrait of the second president İsmet İnönü, and bronze 10 Para (quarter of a Kurus) coins were introduced into circulation.

500 and 1000 Lira banknotes bearing President Inonu were also released.


1941

The ship carrying the 50 Kr and 100 Lira banknotes printed in UK, was bombed by the German planes at Port of Piraeus, Greece. The banknotes were scattered and collected by the locals, hence were declared void and were never released into circulation (*14, *36).


1942

1 Lira banknotes bearing İnönü’s portrait were released as part of 2nd Emission.

10, 50 and 100 Lira banknotes with İsmet İnönü’s image, were released into circulation. They were part of part of the 3. Emission.

Türkiye was following a neutrality policy and until a couple of months before the end of the war, retained relations both with the Allied and the Axis Powers. As the Turkish Republic did not have its own banknote printing house, banknotes for circulation were produced partly at the British and partly at the German printing houses. Sometime after the initial order of the 100 Lira banknotes printed in Germany, some unapproved series were seen in circulation (*36). Afterwards, the German printing houses were not used and following banknotes were printed by printers in USA.


1943

Monnaies-de-Lux gold coins bearing the portrait of İnönü were minted.


1944

Republican bullion gold coins with the new alphabet were minted in two types; half bearing Atatürk’s half İnönü’s effigy.

25 Kurus small change was no more struck in silver, but in cupronickel instead. This effectively meant a demotion of its status, hence the obverse could not bear Atatürk’s effigy and it was replaced by the crescent and star in the, by then, standardized form. These coins are of an alloy of zinc and bronze and produced by melting surplus artillery shell casings (*Ulus newspaper article by Ziya Tansu dated 14th of March 1948 and *42 p.46)

The word Cumhuriyet (Republic) was also amended into the settled syntax; with both u letters without any umlaut dots (*8).

50 Kr banknotes printed in Germany, part of the 2. emission group were introduced.


1946

500 and 1000 Lira banknotes were released.


1947

Silver 1 Lira and 50 Kurush coins with the obverse bearing crescent and star, and also bronze 1 Kurus coins were released into circulation. These coins were designed by Prof. Emin Barın; a prominent calligrapher of the time. Coins of the lowest denomination were struck with holes in them. All the coins since 1924 were being struck in medallion orientation, the new ones were switched into coin orientation.

3rd emission two and a half (2½) Lira, 50 Lira in the 2nd layout and 4th emission 10 and 100 Lira banknotes were released.


1948

In 1944, 25 Kuruş pieces were struck in bronze and their obverse was matched to those of 1 Lira and 50 Kr coins already in circulation.

Two and a half (2½) Kurush (previously denominated at 100 Para) were minted in bronze with holes.

Half (½) Kuruş pieces were also designed and minted, completing the set of small change with the 1 and 2½ Kurus coins. However, they were not released into circulation. Some were included in the 1949 State Mint Sets and some were kept by the mint workers. It is estimated that there are circa 300 pieces in total (*25), hence they are among the rarest and most valuable coins of the Turkish Republic.

10 Lira 4. emission 2nd type were released.


1949

10 and 5 Kuruş coins bearing the crescent and a star on their obverse were released. The circulation coins set of 1 Lira, 50, 25, 10 and 5 Kuruş gained a layout consistency.


… more to follow

Selahattin Tuğa (1945 ~ 2023)

Selahattin Tuğa, one of the engraving artists of the Central Bank of the Republic of Türkiye, has his name imprinted as S.TUĞA on the Mustafa Kemal Atatürk portrait and the Bosphorus view on the sixth issue 1.000 Lira banknotes. (*42, p 133).

He is also the engraver who produced the Atatürk portraits on the seventh-edition 10 Lira and 5.000 Lira banknotes.

 

 

Selahattin Tuğa was born in Diyarbakır in 1945. He completed his primary and secondary education in Diyarbakır and graduated from the Decorative Arts Department of the Istanbul State Academy of Fine Arts in 1966.

As a student at the academy, he engraved pictures and portraits on copper plates. Due to these engravings, he was recommended to the Banknot Printing House engraving workshop and after the entrance exam, he started working at the CBRT Banknot Printing House engraving workshop in 1966. During his internship, he received his first information about the taydus (taille-douce, soft carving) engraving technique from Polish engraving artist Jan Piwczyk.

Instead of direct engraving by hand, he transferred the linear portraits onto copper plates via a photomechanical method, etched them with acid and used the deepening method with engraving pens.

In the second half of the 1970s, he made the engraving of the portrait of Atatürk on the front of the E-6 series 1.000 TL banknote, and the Rumelian Fortress Bosphorus view on the back, including the Bosphorus Bridge. The graphic design of the banknote was made by Mustafa Üstün.

When preparations for the E-7 series small-sized banknotes began in 1978, he produced the Atatürk portrait on the 10 Lira and 5.000 TL banknotes of the of the E-7 series.

In 1985, he made the front and back graphic designs of the second series of the E-7 5,000 TL. He served as assistant manager between 1979 and 1990 and then served as a consultant until his retirement.

Selahattin Tuğa, who also designed countless National Lottery tickets, is also the designer and engraver of many stamps *1. Atatürk portraits on stamps of various years, the portrait of İsmet İnönü, and the “Turkish Celebrities” series of 1992 and 1993 are few of many.

 

In addition to these works, he engraved portraits on copper plates on decorative items. He also made watercolor paintings of the subjects on the front of the National Lottery tickets, and supervised the color separation, mold and printing stages of these tickets printed in the banknote printing house.

Selahattin Tuğa, who exhibited Atatürk portrait engravings and oil paintings in his personal exhibitions, passed away in 2023.

[1] stamp images: Pulhane.com
[2]Selahattin Tuğa, Selahattin Tuğa, Oil Painting Exhibition, Destek Reassurance Art Gallery, İstanbul“, Salt Research

(We would like to express our sincere thanks to his family and also to Mr. Mustafa Çakırcalı, who provided valuable information about Selahattin Tuğa in our article.)

 

* Click for other artists whose work has been used in the design of Turkish currency.

İsa Avni Kumuk (1934 ~ 2017)

Isa Avni Kumuk, was born in 1934 in Samsun to a family of Caucasian descent. He was involved with his family business of jevellry-making at the early age of six. He was quite interested and competent in maths during elementary school and and was even nicknamed Pisagor (Pythagoras). after his graduation from high school in 1953, he started his own workshop at the Grand Bazaar as a jevellry-maker and engraver. He was admitted to Istanbul Technical University as the 12th applicant.

He worked for the Turkish State Mint between 1964 and 1976  first as a technical personnel, later as the head of engraving workshop and technical consultant. During his service, he was appointed to examine the Spoonmaker’s Diamond to authenticate and measure its dimensions.

He designed many circulation and commemorative coins after 1970. His technique was compared to Giampaoli‘s.

50 Kurus piece released in 1971 was his handiwork. After visiting an exhibition of traditional Anatolian clothes, administrators of the mint asked him to come up with a portrait of a woman in traditional Anatolian head dress. The owner of said exhibition Sabiha Tansug was photographed in the Ankara Headpiece, but in order not to portrait any significant person, Avni Kumuk cut out her face and completed the portrait with an imaginary average Turkish woman.

 

Around 1976, the head of the State mint – also a prominent poet Cemal Süreya –  was instructed to decommission old machinery of the mint. Avni Kumuk convinced him to keep the machinery for display.

After his work at the Mint had ended, in 1982, he started his own company called International Goldart İstanbul, and produced over 700 medals, badges, pins and emblems ordered by several private companies and Turkish Numismatics Association. He received several awards by Turkish and international, private and public institutions.

Commemorative and circulation coins he designed and produced:

1970:

  • 25 Lira silver coin commemorating the 50th anniversary of the TBMM – Grand National Assembly of Turkey
  • Acmonital 2½ Lira with the obverse bearing Ataturk on a tractor; minted part of the FAO programme.

1971:

  • 50 Lira silver coin commemorating 900 years of  Battle of Manzikert
  • Bronze 10 Kr, Ataturk on a tractor; part of FAO programme,
  • Acmonital 50 Kr circulation piece with a woman wearing Anatolian headdrress.

1972:

  • silver 50 Lira commemorating 50th anniversary of the Victory of August the 30th
  • golden medals commemorating victory of Battle of Dumlupınar

1973:

  • 50 and 100 Lira silver and 500 Lira gold coins commemorating 50th anniversary of the Republic

1974:

  • 5 Lira circulation piece bearing Ataturk’s statue in Samsun

1975:

  • Aluminium 5 Kurus part of FAO programme

1976:

  • Aluminium 5 and 10 Kr and acmonital 5 Lira of the FAO series

1978:

  • FAO acmonital 50 Kurus, 1 and 2½ Lira
  • FAO acmonital 5 Lira and silver 150 Lira
  • FAO gold 500 Lira,
  • FAO gold 1.000 Lira

1979:

  • FAO  bronze and aluminium 1 Kuruş
  • FAO acmonital 50 Kuruş and 1 Lira,
  • FAO acmonital 2½ and 5, also silver 150 Lira
  • FAO gold 500 Lira,
  • FAO gold 1.000 Lira,

1980:

  • FAO bronze 10, acmonital 50 Kurus and 1 Lira,
  • FAO gold 500 Lira

Some of the medals he produced:

for the Turkish Armed Forces:

  • First and Second degree Honour Medals
  • First and Second degree Pride Medals
  • Medal of Distinguished Service
  • First and Second degree War Medals
  • Emblem of the Turkish Army (Turkish Land Forces)
  • Turkish Army commemorative medallion

for various establishments:

  • commemorative medallion for the 500th anniversary of the conquest of Constantinople / İstanbul
  • commemorative medallion for the inauguration of 15 July Martyrs Bridge (named Bosphorus Bridge when first opened)
  • commemorative medallion for the inauguration of Haliç (Golden Horn) Bridge
  • medallion commemorating Saudi King Faisal’s visit to Türkiye
  • medallion commemorating Islamic Conference in Istanbul

Avni Kumuk was also interested in painting, he was not only a skillful artist, but also a competent engineer. After the intervention to Cyprus by Turkey in 1974, he contributed to complicated parts the defence industry needed and that had to be domestically produced.

He was a member of the industrial advisory committee of ITU Mechanical Engineering Faculty. He assisted many public and private companies with their intricate designs of parts and dyes.

Father of 2 sons, Avni Kumuk worked until his last minute with the principle of giving back to the society.

 

Click here for a page dedicated to Avni Kumuk’s works.

*We would like to extend our deepest gratitude to the family of the artist, for their invaluable contribution to this article.

Pietro Giampaoli (1898 ~ 1998)

Portrait of Atatürk by P. Giampaoli

Giampaoli was as a consultant to the Turkish State Mint and was the designer of the Ataturk effigy on the coins starting with the 1 Lira of 1957.

Same portrait was also used on the 10 Lira of 1960 silver commmemorative 10 Lira pieces.also on the 25.000.000 coin minted in 1998 as part of the 75th anniversary of the republic(*27, Page. 183).

He worked at the Italian Mint between 1936  and 1963. designed many Italian coins as well as medals and coins for Vatican, San Marino and Malta. He consulted Germany, France, Spain, Israel and Tunisia.

In 1957 he was invited to Turkey for renewing the coinage. He studied the works in the museums and monuments of Ankara and Istanbul for inspiration. Rather recent auction pieces indicate that he also worked on 25 Kurus coins bearing Ataturk’s portrait but eventually the figure of an Anatolian woman carrying an artillery shell was used for those coins. His signature in its Latinized form (J. Pavlvs) can be seen below the portrait.

There are auto-portraits of Giampaoli on medals(*1) where his name is Latinified. The page describes his resoning for using thistle on his self medals as “In the language of flowers and plants, the thistle symbolizes solitude and isolation and this meaning is due to the tendency of this plant to grow in inaccessible places. An ability to make one’s way through difficulties – yet “not without effort”, indeed.

His brother Celestino Giampaoli also was affiliated with the Turkish State Mint (*2) during the period which acmonital (Acciaio Monetario Italiano / Italian monetary steel) was used for Turkish coins. It is a variant of stainless steel that is harder than silver or cupronickel hence requires specific machinery and expertize for processing.

[1] https://www.cronacanumismatica.com/un-refuso-due-medaglie-e-limpresa-del-maestro-giampaoli

[2] https://www.dizionariobiograficodeifriulani.it/giampaoli-pietro-celestino-e-vittorio

Ali Cemal

Ali Cemal was the designer of the 1934 100 Kurus silver coins.

He submitted his work to the contest organized in 1934 for the new coins with the new alphabet. Although his models initially won second place in the jury’s decision, they were also sent to the capital for further consideration. Eventually his models were used for the 100 Kuruş pieces.

 

 

 

Ali Sami Boyar (1880 ~1967)

Ali Sami Boyar is the designer of the first emission banknotes released in 1927 (*5 Sf.6).

He studied arts during middle school and later at the Naval Academy. He graduated the Naval Academy in 1901 and while working for the Navy, enrolled to Fine Arts School which he graduated in 1908.

In 1925, he won the contest for the first stamps of the Republic. Later in his career, while he was managing the Museum of Endowments (today Turkish and Islamic Arts Museum), he was appointed to produce the designs for the first banknotes of the republic.

He was sent to London to oversee the printing process along with the State Mint engraver İsmail Haşim and some other officials. The inscriptions on the banknotes were made by Calligrapher Ahmet in different font styles, so that it would be easier for the public to recognize different denominations. *1. The portrait on the 1000, 500 and 100 Lira banknotes was based on Atatürk’s photo taken at the Phebus Photo Studio by Bogos Tarkulyan(*2).

The series consisting of 1, 5, 10, 50, 100, 500 and 1.000 Lira denominations was printed in London Thomas de la Rue Printhouse.

 

The symbolism of the banknotes included Grey Wolf, Crescent and star, the new parliament in Ankara. The texts were still in the Turkish Arabic syntax and in traditional and partly kufic fonts.

Sources:

[1]Story of The Printing of The First Banknotes of the Turkish Republic According to The Daily Cumhuriyet, Melek Öksüz, Tarih Dergisi – Turkish Journal of History, 81 (2023/3): 63-120

[2] Belki Beni Tanıyamayacaksın: Lesser known photos and memoirs of Atatürk from Ömer Koç Collection

[3] Koleksiyon.org; article by Koray Tekay (“from an article from the book “75 Yılda Para’nın Serüveni” (adventures of our money in the last 75 years))

Some detailed biographies of the airtist (Turkish):

Ahmet Mesrur Durum (1873 ~ 1952)

Designer of the last coins of the Ottoman Empire and also the first coin series of the Turkish Republic minted between 1924 – 1928.

Also known as Mesrur İzzet Bey, he has been serving the Istanbul Mint since 1905 and is also the designer of the Turkish Medal of Independence.

He studied sculpture at the Fine Arts School (later called “Istanbul Fine Arts Academy, today named Mimar Sinan Fine Arts University).

He has worked in several fields, including sculpture, painting, philately, and numismatics, and has designed a significant amount of medals for various establishments.

The Republican Era coins he has designed are:

  • 100 Para 1924 ~1928
  • 5 Kuruş 1924 ~1928
  • 10 Kuruş 1924 ~1928
  • 25 Kuruş (nikel) 1925 ~1928
  • 25 Kuruş (1/4 Altın Lira, Meskuk) 1926 ~1929
  • 25 Kuruş (1/4 Altın Lira, Ziynet) 1927 ~1928
  • 50 Kuruş (1/2 Altın Lira, Meskuk) 1926 ~1929
  • 50 Kuruş (1/2 Altın Lira, Ziynet) 1927 ~1928
  • 1 Lira (Ankara Gold Bullion) 1926 ~1929
  • 1 Lira (bullion Gold, Monnaies de Luxe) 1927 ~1928
  • 2,5 Lira (Ankara Gold Bullion) 1926 ~1929
  • 2,5 Lira (bullion Gold, Monnaies de Luxe) 1927 ~1928
  • 5 Lira (Ankara Gold Bullion) 1925 ~1929
  • 5 Lira (bullion gold, Monnaies de Luxe) 1927 ~1928
  • 10 Para 1936 (This smallest denomination coin was exempt from the contests of 1934, first drafts were announced in 1934. Newspapers and the magazines published photo of the models but it was introduced into circulation firstly in 1940.
  • 2005 Yılı 50 Yeni Kuruş (New Kurus) obverse bearing Atatürk facing right is also based on a reused model from his works of 1933.

His life and works are published in detail in a two volume book by Celil Ender & Orhan Okay (2003 & 2004 Turkish Numismatics Society Publications)