CYPRUS, 1/2 PIASTRE 1879-1949, Circulation Issue.
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7/11/2014
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THE CYPRUS 1/2 PIASTRE COINAGE (1879-1949) Circulation Issues.
Cyprus, an independent Republic since 1960, is an island situated in the north-eastern corner of the Mediterranean. With an area of 3,572 square miles, it is the third largest island in the Mediterranean and has a population of over 800,000 of whom the 80% are Greeks and 20% Turks.
Should there be any wonder why Aphrodite, the Greek goddess of love and beauty, made her home on this island? As Homer affirms in the Odyssey, " laughter-loving Aphrodite went to Cyprus where is her realm and fragrant altar ".
Cyprus had an ancient civilization, and a coinage, emulating that of the ancient Greek world, made its appearance back in 568 B.C. Because of its strategic position and wealth Cyprus was coveted by all those countries who wanted to exercise power in the Eastern Mediterranean. Throughout its long history, Cyprus formed part of the Empires of Assyria, Egypt, Persia, Rome and Byzantium. In 1193 A.D. Cyprus became part of the Frankish Kingdom of the Lusignans who ruled the Island until 1489 when it was passed over to Venice as a dependency. In 1571 Cyprus was conquered by the Turks who finally handed it over to England in 1878. The British rule lasted until 1960 when Cyprus became an Independent Republic.
Under British Administration the "piastre coinage" made its first appearance in 1879. The copper piastre became the unit of currency and was fixed at the rate of 180 to the British gold sovereign. The gold sovereign became the standard measure of value and remained the coin of unlimited legal tender throughout the period from 1878-1960. During the reign of Queen Victoria, the half sovereign was also legal tender, demonitized though from the 1st May 1901.
The half-piastre coinage of Cyprus under British administration appertains to the following four reigns:
1. QUEEN VICTORIA (1837-1901).
During her reign a copper coinage consisting of quarter-piastres, half-piastres and piastres, made its first appearance in 1879. There were twelve issues of the quarter-piastre, thirteen of the half-piastre and fourteen of the piastre piece. In 1901 a silver coinage was issued in denominations of 3, 41/2, 9 and 18 piastres. All the Cyprus coinage was struck at the Royal Mint in London except a part of the issue of 1881 and that of 1882, which were struck by Ralph Heaton & Sons in Birmingham; these coins have a small H above the date.
2. KING EDWARD VII (1901-1910).
The short reign of King Edward VII produced seven different coins in all. Quarter-piastre pieces were struck in 1902,1905 and 1908, the half-piastre and one piastre in 1908, and the silver 9 and 18 piastres in 1907.
3. KING GEORGE V (1910-1936).
During this reign 19 issues were struck: two of the quarter-piastre, five of the half-piastre, five of the one piastre, one of the 41/2 piastre, three of the 9 piastres, two of the 18 piastres and one of the 45 piastres. The year 1928 marked the 50th anniversary of British rule in Cyprus, and the occasion commemorated by the issue of a 45 piastre piece, a crown-size silver coin, which appeared in a limited number of proofs and a larger issue of ordinary pieces. In 1934 the heavy copper coins issued in this and the previous reigns were replaced by smaller and lighter pieces in copper-nickel, with a scalloped edge to distinguish them from the silver coins.
4. KING GEORGE VI (1936-1952).
The reign of King George VI comprises 22 issues: six of half-piastre, seven of one piastre, one of 41/2 piastres and two each of 9 piastres, 18 piastres, one shilling and two shillings. During the war years from 1942 and again in 1949 the copper-nickel half-piastre and one piastre with scalloped edge were struck in copper. In 1947 the denominations of the 9 and 18 piastres were changed to one and two shillings respectively, and the size of the two shillings was reduced to conform to the imperial coins of similar denomination.Their metal too, was changed from silver to copper-nickel.
REFERENCES and PUBLICATIONS:
THE COINS OF CYPRUS, fourth edition 2008, by A. FITIKIDES.
THE MODERN COINS and NOTES of CYPRUS, by MAJOR F. PRIDMORE.
This fascinating set includes all of the currency-edition half piastres minted from 1879-1949 (25 issues) and contains amazing rarities in the highest grade designated. It is highlighted by the 1884 MS63RB, 1885 MS63RB, 1886 MS64RB, 1889 MS62BN and 1922 MS64RB.
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CYPRUS, 1/2 PIASTRE 1879-1949, Circulation Issue.
By TMS Coins
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