Cost of 50 Kurus Reached 1 TL

Although the Turkish Lira has been losing value steadily in the last few years, the speed of this depreciation in the last month has reached surprising proportions. While we are writing this article, the dollar is over 14 liras and we do not know where this number will stand.

With this rapid depreciation, it was also on the agenda that the coins were to be produced more expensive than the amount of money they represented. However, according to the current exchange rate, the difference between the cost of the coins and the value they represent has increased considerably.

Video shared by a scrap dealer: “We are scrapping all the coins”

According to the current exchange rate, the total price of the metals used to obtain 50 kuruş reached approximately 1 lira. While the differentiation of the cost from the actual value has already been mentioned in the social media before, the fact that the cost is 2 times more than the value started another very interesting conversation: The ‘selling’ of coins as scrap.

Of course, it wasn’t just a joke on Twitter, there were actually people who sold the coins they saved to the scrap dealer and made a profit. How does a scrap dealer tell a person who brings 2500 TL worth of coins in the video he shared? They paid 3 thousand 400 TL explained as follows: “The latest state of the country’s economy. All you see is new money. Our job is scrap, we scrap all the coins. He brought 2 thousand 500 liras, and we gave 3 thousand 400 liras to the man.”

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The article on Teyit.org, which confirms that the cost of 50 cents is almost 1 lira, includes the following statements: “When we calculate at the CBRT’s 14.27 dollar rate, we see that 50 cents, 5.1 grams of which is copper, is 0.046 dollars and 0.662 liras. Nickel has a value of 0.263; It turns out that zinc is 0.029 liras. Their total is 0.95 lira, or 95 cents.”