Turkey 1997 1000000 lira KM-1098
This specimen was lot 75780 in Stack's Bowers Collectors Choice Online Auction (Costa Mesa, CA, October 2024), where it sold for $145. The catalog description[1] noted, "TURKEY. 1000000 Lira, 1997. NGC PROOF-68. Honoring the Ottoman admiral and navigator Piri Reis. A delightful design of the explorers ship with hard surfaces and satin like designs." This denomination was used in 1997 for several silver and gold NCLT's (KM 1060, 1066, 1067, 1069, 1098) Wikipedia comments,
"Muhiddin Piri (c. 1470 – 1553), better known as Piri Reis (Turkish: Pîrî Reis), was an Ottoman cartographer, admiral, navigator, corsair, and geographer. He is primarily known today for his cartographic works, including his 1513 world map and the Kitab-ı Bahriye (Book of the Sea)."
In 1970, US$1 = 11.3 lira; in 1990, US$1 = 2,500 lira; in 1995, US$1 = 43,000 lira; in 2005, US$1 = 1,350,000 lira. In that year, the new lira was introduced, worth one million old lira. Normally, a new currency is accompanied by budget reforms or debt rescheduling so that the new unit can become established; however, this did not occur in Turkey.
Recorded mintage: 10,012 per Numista, 10,655 per the SCWC.
Specification: 1.24 g 0.999 fine gold, 14 mm diameter, reeded edge, 0.040 troy oz AGW, designed by Hakkı Baha Çavuşgil.
Catalog reference: Fr-144; KM-1098.
- Friedberg, Arthur L. and Ira S. Friedberg, Gold Coins of the World, From Ancient Times to the Present, 9th ed., Clifton, NJ: Coin and Currency Institute, 2017.
- Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1901-2000, 47th ed., Iola, WI: Krause Publications, 2019.
- [1]Orsini, Matt, Kyle Ponterio and Jeremy Bostwick, October 2024 World Collectors Choice Online Auction, featuring the S.P. Rutherford Collection, Costa Mesa, CA: Stack's Bowers Galleries, Inc., 2024.
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