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Turkish, European Union Coins Similar
 | By Richard Giedroyc, World Coin News
March 06, 2008 |
When mints around the world plan the introduction of a new coin they are usually careful to ensure the new coin is not so close in weight, metal composition, and diameter to other coins elsewhere that a low denomination coin of one country won't be confused for a higher denomination coin of another nation.
There are exceptions, of course. The United States has had its share of such snafoos. Take the 1875 to 1878 20-cent coin that resembled the quarter as one example. A more recent problem was the Susan B. Anthony dollar, often mistaken for a quarter.
Some years ago toll machines in the New York metropolitan area were found to be accepting Japanese 10-yen coins. Today those machines no longer accept this low value foreign coin.
The latest casualty is the 1-lira coin of Turkey, a coin that according to a Jan. 4 article in Cyprus Mail, resembles the European Union's 2 euro coin but is worth about four times less. Cyprus Mail was interested in the story since the Turkish lira circulates throughout northern Cyprus (which is controlled by Turkey), with the euro now circulating elsewhere on the island since Cyprus has now joined the EU currency union.
The EU doesn't appear to be concerned, even if the Finance Ministry of Cyprus appears to disagree. According to a recent EU report, "Current information suggests that, although a risk of confusion exists, it is limited."
The report continues, "At the level of hand-to-hand transactions, euro coins are readily distinguishable - by simple visual inspection. Vending machines will reject Turkish coins if properly adjusted; the [European Union] Commission has kept the manufacturers of coin mechanisms informed, so that they are able to make the necessary adjustments to the relevant equipment."
Cyprus' Finance Ministry doesn't appear to agree, having recently begun to advertise warnings regarding confusion between the two coins.
According to Cyprus Mail, "So far, a problem has not emerged, but the Ministry is warning people to be vigilant, especially as the public is already having to contend with confusion from the changeover itself."
Turkey issued its current 1-lira coin in 2005. Since there is a significant Turkish immigrant population in Germany there are cases known in Germany regarding the 1-lira coin being used successfully as a 2 euro in vending machines.
The recently released Cyprus 2 euro coin, as with all EU coinage, depicts a generic EU symbol on one side, with a design distinguishing the coins as having originated on Cyprus on the other side. The so-called national side of the new Cyprus 2 euro coin depicts a cross-shaped idol from Pomos dating from the Chalcolithic period of about 3000 BC. In comparison, the Turkish 1-lire coin depicts Mustafa Kemal Ataturk on the obverse, with the denomination prominently displayed on the reverse.
Although a coin vending machine can only differentiate the coins from their signatures when used in commerce, the differences between the two coins are obvious. Turkey has agreed to modify its 1-lire coin, but this may not happen for another year.
The EU report says, "These revised parameters improve the recognition of these coins by vending machines. The Commission is maintaining its contacts with the Turkish authorities and is attempting to ensure that future changes in Turkish coins will eliminate the possibility of confusion."
This may be true, but you can't ignore that Cyprus is advertising a warning regarding confusion between the two coins.
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