May 26, 2012
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Treasury denies coin redesign rumors
27 October 2009 / TODAY'S ZAMAN, ANKARA
The Treasury has announced that changes to the size or shape of the nation’s coinage are not currently in the works.
The Treasury Undersecretariat issued a statement on Monday to respond to rumors in the Monday editions of a number of newspapers that Turkey’s coins would be changed to curb confusions with euro coins. The statement said the visual similarities between Turkish coinage and euro coins are no longer a source of problems since the new coinage, in circulation since Jan. 1, was designed in a distinctive fashion to avoid any confusion.
The Turkish coins caused problems in euro zone countries, as old-fashioned vending machines recognized a TL 1 coin as a 2 euro coin. Holders of TL 1 coins were able to buy goods from vending machines for much less than the stated price.
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