Turkey's 1000 Lira denomination arrived as the country was deep into a chronic inflation cycle that had been grinding since the late 1970s. By 1987, annual inflation was running above 30 percent, and the lira was losing purchasing power fast enough that this coin — face value equivalent to a trivial fraction of a U.S. cent within a few years — would effectively be swept from circulation before the decade closed.
The series was ultimately rendered obsolete by the 500,000 and 1,000,000 Lira notes that followed, a denomination creep that culminated in the 2005 redenomination stripping six zeros from the currency entirely.
Turkey's 1000 Lira denomination arrived as the country was deep into a chronic inflation cycle that had been grinding since the late 1970s. By 1987, annual inflation was running above 30 percent, and the lira was losing purchasing power fast enough that this coin — face value equivalent to a trivial fraction of a U.S. cent within a few years — would effectively be swept from circulation before the decade closed.
The series was ultimately rendered obsolete by the 500,000 and 1,000,000 Lira notes that followed, a denomination creep that culminated in the 2005 redenomination stripping six zeros from the currency entirely.