1 Pound Refugee Commemorative

Issued two years after the Turkish military intervention of July 1974, this coin directly commemorates the roughly 160,000 Greek Cypriots displaced in the conflict's aftermath — the largest population displacement in the island's modern history. The Central Bank released it at a moment when the refugee crisis was still acute and politically unresolved, making it an unusually immediate commemorative by any standard.

KM#46 is not scarce, but collector interest remains tied almost entirely to the subject matter rather than the numismatics.