2017-07-14 Fri

Collectors are willing to pay as much as $284,333 to buy old Republic of Turkey banknotes. 135 different banknotes, in nine denomination groups, have been removed from circulation over 93 years because of inflation. All banknotes from the first six groups of denominations and some of the seventh group were removed from circulation at different dates. They lost their legal tender status after 10 years.

TL 1,000 banknote from the first group is the most popular among collectors. 23 of them have not been returned to the Central Bank. These notes are being sold for anything between TL 500,000 to TL 1,000,000. TL 100 banknote from the same group is being sold between TL 40,000 and TL 70,000. TL 500 banknote from the first group has a starting price of TL 130,000. The second group’s TL 100 banknote featuring the first president of the Republic of Turkey, Mustafa Kemal Atatürk, and the second President ?smet ?nönü, has a market value of TL 7,500 to TL 20,000. TL 1 banknotes are being sold between TL 245 and TL 3,000.