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2002 Turkey 1,000,000 Lira Hyperinflation Coin w/Mini Album
Item #
427776
In Stock
- Qty Credit Card Wire
- 1+ $11.95 $11.60
Get One Million Lira for Under $10!
It’s true! This 2002-dated, One Million Lira coin—that’s SIX zeroes, friends!—is a product of a period of hyperinflation in Turkey, which lasted several years, beginning in early 2001 and ending finally when the currency was reformed on Jan 1, 2005. The term “hyperinflation” refers to a situation where the prices of goods and services rise uncontrollably over a defined period of time. In general, the term is used when the rate of inflation increases at more than 50% a month. For example, the period of hyperinflation in Germany following World War I reached a monthly inflation rate of approximately 29,500 percent with an equivalent daily rate of 20.9 percent. The debt created by this out-of-control economic cyclone was so crushing that it took Germany 92 years to pay it off! Could it happen again in Turkey? The monthly inflation rate raced past 70% in 2022 following Russia’s invasion of Ukraine that exacerbated already rising costs for food and energy in Turkey.
The Only Seven-Figure Denomination In General Circulation
Struck in 12 grams of copper-nickel, each coin available here features the portrait of Yunus Emre—a Turkish folk poet and Sufi Mystic, along with the 1,000,000 Lira denomination. The Turks were the only ones to mint a coin with a seven figure denomination for general circulation. This coin can serve as a reminder to Americans to invest in sustainable economic growth. Secure yours now before our supply is gone! Each comes displayed in a mini album. Order yours now!
| Availability | In Stock |
|---|---|
| Year of Issue | 2002 |
| Country | Turkey |
| Composition | Copper-Nickel - CuNi |
| Currency Type | Lira |
|---|---|
| Coin Weight | 12 Grams - g |
| Dimensions | 32mm |