CYPRUS, 25 Mils, 1963-1982, Circulation Issue
Private
Updated:
8/23/2023
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CYPRUS
" The loveliest Island of the Mediterranian " - Lord Winster.
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, derives from the ancient Greek word for the precious copper deposits that were already being mined and traded as early as 2500 BC. 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 1,000,000 of whom the 80% are Greeks and 20% Turks.
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. In 1961 Cyprus became a member of the British Commonwealth and a member of the European Union in 2004.
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. During the reign of Queen Elizabeth II, the first " Mil Coinage " was introduced in 1955 with the denominations of 3 mils, 5 mils, 25 mils, 50 mils and 100 mils.
The Republic of Cyprus which came into being on August 16 1960, introduced its own bank notes in 1961, with the denominations of 250 mils, 500 mils, 1 pound (1,000 mils) and 5 pounds (5,000 mils).
In 1963 the first coinage was issued with the denominations of 1 mil, 5 mils, 25 mils, 50 mils and 100 mils and remained until 1982. The same denominations were available to collectors as a case proof set in 1963 and 1982. All coins were minted in the London Royal Mint.
In 1983 the " Cent coinage " was introduced and remained until 2004 when Cyprus became a member of the European Union and Euro the local currency.
REFERENCES :
MODERN COINS AND NOTES OF CYPRUS by Major F. Pridmore, 1974.
COINS OF CYPRUS. Cultural Institution of Bank of Cyprus, 2007.
THE COINS OF CYPRUS by A. Fitikides, 2008.
The present set includes all dates of the 25 mils from 1963 until 1982.
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CYPRUS, 25 Mils, 1963-1982, Circulation Issue
By TMS Coins
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