100 Lira Republic

Struck to commemorate the 50th anniversary of the Turkish Republic, founded by Mustafa Kemal Atatürk on October 29, 1923. Turkey issued several silver denominations for this jubilee, and the 100 Lira was the anchor piece — substantial enough in silver content to command attention as a presentation coin while the country's circulating lira was already suffering from the inflation that would plague Turkey through the following decades.

Most examples were sold directly to collectors and foreign buyers, keeping circulated survivors genuinely rare. KM#903 is frequently confused with the lower-relief business strikes from the same program; the distinction matters for valuation.