5 Lira

Turkey's 5 Lira coin has had a complicated life. The denomination was reintroduced in 2009 following the 2005 redenomination that dropped six zeros from the collapsing old lira — a currency that had, at its nadir, traded at roughly 1.65 million to the US dollar. By 2024, inflation pressures had returned with force, with Turkish CPI reaching triple digits in 2022 before the central bank finally reversed its unorthodox low-rate policy under new governor Hafize Gaye Erkan and her successor Fatih Karahan.

At current purchasing power, the 5 Lira piece functions closer to a rounding token than a meaningful transaction coin.