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500 000 Lira
| Issuer | Türkiye Cumhuriyet Merkez Bankası (Central Bank of the Republic of Turkey) |
|---|---|
| Year | 1997 |
| Type | Log in to see details |
| Value | Log in to see details |
| Currency | Old lira (1923-2005) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | TÜRKİYE CUMHURİYET MERKEZ BANKASI 500000 BEŞYÜZ BİN TÜRK LİRASI 14 OCAK 1970 TARİH VE 1211 SAYILI KANUNA GÖRE ÇIKARILMIŞTIR (Translation: Central Bank of the Republic of Turkey, Five Hundred Thousand Turkish Lira, Issued according to the law number 1211 of 14 January 1970) |
| Reverse description | Log in to see details |
| Reverse lettering | TÜRKİYE CUMHURİYET MERKEZ BANKASI BEŞYÜZ BİN TÜRK LİRASI ÇANAKKALE ŞEHİTLERİ ANITΙ (Translation: Central Bank of the Republic of Turkey, Five Hundred Thousand Turkish Lira, Çanakkale Martyrs' Monument) |
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| Comments |
By 1997, Turkish inflation had been running above 70% annually for most of the decade, and the 500,000 Lira note was itself a symptom — a denomination that would have been unthinkable in the 1970s, when the largest note in circulation was 1,000 Lira. The Central Bank's own printing facility in Ankara had been producing successively larger denominations throughout the 1990s at a pace that kept the presses continuously occupied.
This series carried only a basic watermark as its primary security feature — a reflection of how quickly inflation outpaced the economics of investing in sophisticated anti-counterfeiting measures for notes whose real value eroded within months of printing. The 500,000 Lira denomination was eventually made obsolete by the 2005 redenomination, which struck six zeros from the currency and introduced the New Turkish Lira.