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The Ottoman kuruş was introduced in 1688. It was initially a large silver piece (similar to the European thalers issued by the Ottomans), approximately equal to the French écu, or, from other sources, to the Spanish dollar. It was worth 40 para. In 1844, following sustained debasement, the gold lira was introduced, worth 100 kuruş.
Between 1844 and 1855, coins were introduced in denominations of 1p, 5p, 10p, 20p, 1 ⁄ 2 pt, 1pt, 2pt, 5pt, 10pt, 20pt and LT 1 ⁄ 4, LT 1 ⁄ 2, LT 1, LT 2 + 1 ⁄ 2 and LT 5. The para denominations were struck in copper, the kuruş in silver and the lira in gold. The 1p was discontinued in 1859, with the higher copper denominations ceasing ...
The Ottoman Empire [k] (/ ˈ ɒ t ə m ə n / ⓘ), also called the Turkish Empire, [23] [24] was an imperial realm [l] that controlled much of Southeast Europe, West Asia, and North Africa from the 14th to early 20th centuries; it also controlled parts of southeastern Central Europe, between the early 16th and early 18th centuries.
The result was a period of political confusion at a time when the Ottoman Empire's European enemies were rallying together. In 1684 the Habsburgs, Poland–Lithuania, Venice, and the Papacy forged an alliance known as the Holy League to oppose the Ottomans, launching a period of warfare which would last for sixteen years.
The name akçe originally referred to a silver coin but later the meaning changed and it became a synonym for money. The mint in Novo Brdo , a fortified mining town in the Serbian Despotate rich with gold and silver mines, began to strike akçe in 1441 when it was captured by the Ottoman forces for the first time.
The foreign relations of the Ottoman Empire were characterized by competition with the Persian Empire to the east, Russia to the north, and Austria to the west. The control over European minorities began to collapse after 1800, with Greece being the first to break free, followed by Serbia. Egypt was lost in 1798–1805.
Part of the value of this coin comes from the fact that it was engraved by L. Giorgi, an Italian considered the “most famous” of all Chinese coin engravers. One version sold for $420,000 in 2021.
However, they were partially offset by some reductions from Syria and Constantinople. While cotton exports to France and England doubled between the late 17th and late 18th centuries, exports of semi-processed goods to northwest Europe also increased. Whilst the Ottoman market was important to Europe in the 16th century, it was no longer so by ...