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Turkey 10,000,000 Lira Silver Commemoratives 2000 to 2002
The effects of inflation. Suppose your savings account in Turkey amounted to 1,000,000 (one million) lira in the year 1980. That would be equivalent to about $11,000 US dollars because the exchange rate at the time was 90 Turkish Lira to 1 US dollar.
Today that same amount of money, 1,000,000 (one million) lira is equivalent to 68 US cents, because there are 1,480,000 Turkish Lira in 1 US dollar.
This is monetary inflation. I am sure it could never happen where you live!
The coin shown is a 10 million lira coin. It is a commemorative minted to commemorate Mevlâna Celâleddin-i Rumi, a 13th century muslim saint. It's minted in silver, and contains 0.9344 troy ounces of the precious metal.
Using a website such as Kitco Silver, we can calculate the value of the coins. At $22.37 US dollars per troy ounce, each coin is worth 0.9344 x 22.37 = $20.90.
There are other designs of the 10 million lira coins. They were all minted as either proofs or matte coins in silver, as great modern collectibles. When in their original proof holders, showing that the coins have not been rubbed on their surface, impairing mint luster, the catalog value is approximately silver value plus a collector premium of $20 US dollars.
Wikipedia has a good article on Turkish lira and the inflation it has seen over the years. Good news, the lira has actually *gained* value over the past few years.
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