Cyprus (and Malta) Change Over to the Euro !
February 06, 2008
Cyprus Makes the Change Over to the Euro
It is sad when a nation losses its national currency, and this month we have the Euro conversion for Cyprus. After two years or so of dual prices posted in stores and markets, so folks could get accustomed to the concept, the actual period of one month of dual circulation just ended, with the Euro now the sole currency in use.
This has caused a great interest in high grade older notes, and with that, the prices for many pre 1985 have increased tremendously, and even the 1980 and 1990 issues have seen good upward movement. But remember, it is usually only seen with uncirculated grade notes!
The Central Bank has for some time sold uncirculated notes to collectors, but in the recent past they have instituted a premium surcharge for this service. Last year they raised the prices in anticipation of the increased collector demand during the last year of the Cypriot Lira.
Malta also made the change to the Euro. More about that later.
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