Catalog
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| Issuer | Banque Impériale Ottomane |
|---|---|
| Year | 1863 |
| Type | Log in to see details |
| Value | 2 Medjidies D`Or |
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| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANQUE IMPERIALE OTTOMANE Remboursable à CONSTANTINOPLE 2 MEDJIDIES D'OR ANNULÉ |
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| Reverse lettering | Remboursable à CONSTANTINOPLE 2 MEDJIDIES D'OR |
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| Comments |
The Banque Impériale Ottomane was established by Anglo-French capital in 1863 — the same year this note was issued — and immediately granted the exclusive right to issue banknotes across Ottoman territories. It was a foreign-controlled central bank functioning inside a sovereign empire, a structural tension that shadowed the institution for its entire existence.
The medjidieh d'or was a gold-based unit of account rather than a circulating coin denomination, which made paper denominated in it difficult for much of the Ottoman public to value intuitively. Early acceptance of BIO notes outside Istanbul and Smyrna was poor.