Are Turkey’s 50 Kuruş Coins About to Disappear?
TL
Rising inflation in Turkey has made it more expensive to mint coins than their actual face value, sparking speculation that 50 kuruş coins could be pulled from circulation.
According to Sözcü, the state mint (Darphane) already halted production of 10 kuruş and 25 kuruş coins last year due to costs, and was now considering ending production of 50 kuruş as well. Economists say minting a 50 kuruş coin now costs over ₺3, while producing a ₺1 coin costs ₺4.3.
Ministry Denies Rumors
However, officials from the Ministry of Treasury and Finance told Ekonomim that the claims were “unfounded” and that 50 kuruş production would continue.
Shift Toward Higher Denominations
With coin production no longer cost-effective, the Central Bank is expected to focus more on ₺5 coins, which were introduced in limited numbers but may soon become more common in circulation.
Consumers will still be able to use their existing 10, 25, and 50 kuruş coins, though experts warn that withdrawn coins could gain collector’s value over time.