Most valuable banknotes of the Turkish Republic revealed

ANTALYA - Anadolu Agency

The bank note, which was issued in England, put into circulation in 1927 in Turkey. Currently, they are percived as one of the most unique and most valuable banknotes of the republic era. AA photo

The first 1,000-lira notes issued by the Turkish Republic, which are the most unique banknotes of the republic’s history, have been found in a private collection. There are two unique first-issued banknotes that were kept in private collections separately. They have now been brought together in a single collection.

Necati Doğan, researcher and writer, spoke to Anadolu Agency about the value of the banknotes and why they were very valuable and their significant place in history. The banknote, which is the first 1,000 liras to be issued by the Turkish republic, was accepted in 1925 and later, after two years, it was issued in England’s “De Thomas De La Rue” printing house and put into circulation in 1927. A total of 15,374 banknotes were issued and in 1939 it was withdrawn from the circulation, Doğan said. A total of 23 of these banknotes have been sent to the Central Bank to be changed in the ancient times. While these changing procedures were taking place, only six or seven of them remained sturdy. “That’s why these two bank notes are very valuable for us,” Doğan added.

The banknotes are 124 millimeters in width and 201 mm in length, and they are dark blue in color. The front of the banknote displays the portrait of Atatürk and the back part of it shows Sakarya Train line and Geyve strait. When the republic was established, the banknote was the most valuable bank note of the republic era and it was published during the establishment of the republic, making them more valuable than the other banknotes.

Doğan said it was issued before the alphabet reform and that’s why “Turkey Republic” was written in Ottoman Turkish on the front of the banknote. The watermark part of the bank note displays the Turkish Republic’s emblem.

During that era there was no Central Bank and that’s why the front of the banknote contains the signatures of the finance minister and the first parliament president Mustafa Abdülhalik Renda, said Doğan and added that on Dec. 5 when the bank note issued in 1927, it was as valuable as the republic’s gold during that era.

The value of the banknote

Today the bank note is more valuable than it was before. The bank note, which was issued in England is one of the most unique and most valuable banknotes of the republic era, said Doğan. “There are only six or seven of them. This is just a guess. I have been collecting Ottoman Republic banknotes for 26 years and I have heard that these banknotes belong to two collectors who refused to tell their names.” Noting that that was how he discovered these banknotes Doğan said the collectors who ones two unique bank notes said they want to sell these bank notes. Doğan said, “This 1000-liras banknote was used during trade by the large banks. It is really impossible that someone from the public owns this banknote.”

Today this bank note is worth 300,000 to 500,000 liras, added Doğan, and said if the bank note was kept in very good condition this price could increase.

Doğan said he had bought these bank notes and other collectors had bought the bank notes. The most valuable and unique bank note of the Turkish Republic was not at the Museum of the Central Bank, he added. “Gathering these two banknotes together is like miracle. Every collector dreams of having these banknotes and I wish someday the Central Bank Museum would buy these bank notes.”