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Successive currency reforms by debasing the Ottoman currency had reduced the value of the Ottoman piastre by the late 19th century so as to be worth about two pence (2d) sterling. Hence the name piastre referred to two distinct kinds of coins in two distinct parts of the world, both of which had descended from the Spanish pieces of eight.
The coin was first introduced in 1880 then 1883 then in 1885 as so on. In 1885, bronze 1 cent and silver 10, 20 and 50 cents and 1 piastre coins were introduced. These were followed in 1887 by holed, bronze 2 sapèque. In 1895, the weights of the silver coins were reduced, due to the reduction in the silver peg of the currency.
The piastre was based on the Turkish kuruş, introduced while Egypt was part of the Ottoman Empire. As in Turkey, debasement lead to the piastre falling significantly in value. In 1834, the pound, or gineih (Arabic), was introduced as the chief unit of currency, worth 100 piastre. The piastre continues in use to the present day as a subdivision ...
In 1992, brass 5 and 10 piastre coins were introduced, followed by holed, cupro-nickel 25 piastre coins in 1993. The size of 5 PT coins was reduced in 2004, 10 PT and 25 PT coins - in 2008. On 1 June 2006, 50 PT and E£1 coins dated 2005 were introduced, and its equivalent banknotes were temporarily phased out from circulation in 2010.
In the wake of this currency reform, Egypt minted a gold coin known as the bedidlik, equal to 100 piastres, and a silver rial coin of 20 piastres corresponding to the Maria Theresa Thaler. In 1839, a piastre contained 1.146 grams of silver, and meanwhile the British gold sovereign was rated at 97.5 piastres.
Some of the most expensive coins ever sold at auction were minted in the U.S., many within the past century. You might still find them in circulation, or even... 4 Decades of Valuable Coins: See ...
French Cochinchina 50 Cents 1879 French Cochinchina 2 Sapèques 1879. Between 1878 and 1885, the Cochinchina piastre was the currency of the French colony of Cochinchina.It was replaced by the French Indochinese piastre after the creation of a unified administration for Cochinchina and the other French protectorates and colonies in the Far East (Annam, Cambodia and Tonkin) on 22 December 1885.
The history of the daric started in the sixth century and lasted until Alexander the Great’s control began around 330 B.C. The design of the coins remained relatively similar, with only minor ...