60 Para - Mahmud II Kostantiniyye

The 60 Para denomination was introduced as part of Mahmud II's broader monetary reforms, which attempted to stabilize an Ottoman currency system that had been debased almost continuously since the late eighteenth century. The .600 fineness reflects a compromise — higher than many immediately preceding issues, but still a concession to fiscal reality. Mahmud's reign saw the catastrophic Greek War of Independence begin in 1821, and the years covered by this issue coincide directly with the mounting military expenditures that would ultimately force further devaluations by the 1830s.