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.

The coin shown is a 10 million lira coin. It is a commemorative minted to commemorate Mevlâna Celaleddin-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, we can calculate the value of the coins. Suppose silver is trading at $18 US dollars per troy ounce, each coin is worth 0.9344 x 18 = $16.80. Be sure to look up the current price of silver. It changes every day.

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 gained value over the past few years.
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