The cost of a 1 TL coin has exceeded 3 TL!

The cost of a 1 TL coin continues to climb due to rising metal prices.

CHP Ankara MP Deniz Demir stated that 'the cost of a 1 TL coin has exceeded 3 TL.'

In a written statement regarding the issue, Demir used the following expressions:

“The General Directorate of the Mint and Stamp Printing House resorted to reducing the weight to lower costs. While the ratios of copper, zinc, and nickel used were changed, a 30 percent saving was achieved in production. The 1 TL coin decreased from 8.2 grams to 6.6 grams. The weight of the 50 kuruş coin dropped from 6.8 grams to 5.5 grams. However, the rising exchange rate was also reflected in the alloys used in metal coins. The cost of a 1 TL coin has exceeded 3 TL.

This situation gave an opportunity to opportunists; they started collecting the coins as soon as they entered the market and selling them to scrap dealers to make unfair profits. In a place where bread is approaching 15 liras, coins like 50 kuruş and 1 TL have completely lost their value.”

Every price hike on the metals used in coins is reflected in the alloys used in coin production. Especially since 2019, when the dollar began to climb, an increase has also been observed in metal prices.