The Turkish State Mint and Security Printing has ceased the production and circulation of small-denomination Turkish lira coins as of January, citing the impact of high inflation.
Turkey has stopped making and circulating small-denomination Turkish lira coins due to high inflation, according to the Turkish State Mint and Security Printing.
Coin production has been impacted by inflationary pressures, preventing the minting of lower-value coins, as per data from the Turkish mint, which falls under the Ministry of Treasury and Finance.
As a result, coins with denominations of ₺0.01 ($0.028 cents), ₺0.05, ₺0.10, and ₺0.25 have not been released into circulation.
However, the mint is still producing and distributing ₺0.50 and ₺1 coins.
The total number of newly issued coins stood at 84,000 for the ₺0.50 denomination and 45.49 million for the ₺1 coin as of January 2025.
This brought the total number of ₺1 coins in circulation to around 4.35 billion and ₺0.50 coins to 1.59 billion. The total number of coins in circulation, including all denominations, reached 13.14 billion.
Thus, ₺0.50 has become the smallest denomination of Turkish lira coin in circulation.
The role of small-denomination Turkish lira coins has been diminishing with high inflation figures since 2021, as lower-value coins become less important in daily transactions and cash usage adjusts to rising prices.
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