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Are Turkish notes on a tear?

2 posts in this topic

I have been collecting Ottoman Empire and Turkish banknotes for several years now. From experience I can say that pre 1970 notes in reasonable condition (EF -XF- or better) have appeared infrequently on world markets. This is due to the longevity of notes usage and the cultural aspects of currency usage in Turkey. Increasing inflation in Turkey, especially after World War 2 as well as general lack of collectors for Turkish numismatic material until well into the 1990s has also contributed to the dearth of material in the marketplace.


That being said, there was little interest in Ottoman and Turkish material beyond Turkish shores. A little bit of interest in West Germany and other pockets of the Turkish diaspora is all that I was able to observe. It is still difficult to buy or sell (!) early Turkish notes at realistic prices from/to collectors/dealers beyond those that specialize in this type of item.


This is the reason that for fast turn-over and ease of access to a world body of collectors the offering of individual scarce or rare notes - depending on grade - Ebay is probably the most suitable option.


I will provide esamples of recent Ebay results compared to "Pick" cataog data (sourced from PMG website) below.


Pick data:


135 Türkiye Cümhuriyet Merkez Bankasi

Law of 11 Haziran 1930; Interim Issue (1942-44)

1 Lira 8(VG) 20(VF) 60(UNC)

$ - 10.00 - 25.00 - - 150 -


Ebay results:



Item condition: Very Fine++ but with private ink inscription on left side of note on face.



Aug 14, 2014 13:53:38 PDT

Winning bid:

US $51.00

[ 16 bids ]





Item condition: PMG 65



Jul 26, 2014 22:23:34 PDT

Winning bid:

US $765.00

[ 45 bids ]




These results appear astounding since this item is one of the few along with the 50 Kurus note (unissued but printed in 1941) that is frequently encountered in high grade.





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