Turkey 1,000,000 Lira Banknote
The 1,000,000 Lira Turkish Banknote
This 1,000,000 Turkish Lira note features the first president of Turkey, Mustafa Kemal Atatürk, on the Obverse side while on the reverse side is the Atatürk Dam (named after the first president), the third largest lake in Turkey. This type of 1,000,000 Turkish Lira note was circulated for a decade from 1995 until 2005. The Atatürk Dam can now be found on the reverse side of a 1 Lira banknote in 2005 - 2009.
This 1,000,000 Lira note was part of the of the E7 issuance of Turkish banknotes where larger denominations, including the 1,000,000 Lira, were introduced. This series ran from the early 90s until 2005 and introduced security features for the banknotes. This particular note used the colors claret red and blue. It should be noted that the latest versions of the E7 series had lost their color changing ink due to inflation, however.
The E7 series was the only series to include such large denominations, going all the way up to 20,000,000 Lira. After the E7 series, the 1,000,000 Lira note was redenominated into the new 1 Lira Turkish note.
Why were the denominations so large? Because Turkey experienced chronic inflation. The 1,000,000 Turkish Lira is no longer a valid banknote for payment thanks to the Turkish New Lira thanks to the law dropping the six zeroes from the denominations.
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