Cyprus coins from the 1950's

WillieBoyd2 · July 10, 2010 9:31AM

Some Cyprus coins from the 1950's

Cyprus 3 Mils 1955
They didn't make a 1 Mils then

Cyprus 5 Mils 1956

Cyprus 25 Mils 1955

Cyprus 50 Mils 1955

Cyprus 100 Mils 1955

And a couple of older coins:

Cyprus 1/2 Piastre 1949

Cyprus 45 Piastres 1928

farthing · July 10, 2010 10:05AM

Interesting, well designed coins!

worldcoinguy · July 10, 2010 10:32AM

I really like that last design. Nice set.

7Jaguars · July 10, 2010 11:35PM

I always used to think that was Cleopatra on the reverse of the 5 mils (well just a boy at the time). VIP proof QEII issues of non-standard years would be nice to see, bet the prices if available would be crazy. 3 mils coin should have been struck in gold for collectors - oh wait they weren't doing a lot of that in those days...

SYRACUSIAN · July 12, 2010 7:33AM

Very nice. The first 5 coins constitute a full unc series, despite the existence of a 1956 5 mils among them. Here's why, along with some additional info on them:

The 1955 series is the first decimal series of Cyprus, minted before the Independence of the island in 1960, that replaced all the coins previously in circulation, bronze, cu-ni and silver that had escaped the melting pot.The coins that were turned in, along with a small quantity that was still remaining in the vaults of Cyprus' central bank were sent to the British mint, and the value of the precious metals financed the entire operation of switching from the British predecimal system to a decimal one. Historically, it is very likely that this was the only time that an entire numismatic system was being replaced, and did not cost one mil, but instead turned out to be profitable too. That has its own merit especially when considering the enormous quantities minted compared to the population and the previous numbers of minted coins.

This was also the first 5 coin series (3,5,25,50 and 100 mils) in Cyprus that was ever offered to collectors,albeit at a much later date, in 1968. At some point the Central Bank released information that it still had quantities of the 50 and 100 mils along with a small quantity of 3 mils coins that they intended to destroy. That prompted collectors to ask the Bank to distribute their stash, and the Bank went even further by choosing the best available (withdrawn) coins of the 5 and 25 mils that completed the series ,and managed to put together 2250 complete unc sets that were offered in the now usual plastic wallet looking packaging at the price of 400 mils.

The series was also offered to collectors in proof condition. In 1956, 2000 proof series were offered to collectors,half of which in Cyprus and the other half in London, at the price of 2 Cyprus pounds, or 2000 mils. The series was offered in green leatherette cases,with CYPRUS inscribed at the top, and velvet covered interior, in which the 5 coins were placed in incuse slots. These cases are not rare but nowhere near as easy as 3 years ago, and it is essential to inspect the coins inside them, prior to an eventual purchase, because their condition might have been compromised as the coins were kind of loose inside it, unless they were in plastic capsules, as well as for eventual mistakes, such as the existence of a 1956 5 mils instead of the 1955 issue.

The 1956 5 mils (as posted contrarily to the others from 1955) was an additional one off order of the Mint of 3 million coins in 1956, meant to cover the lack of this denomination despite its huge initial mintage of 10 million coins, that proved insufficient, mainly due to the lack of 10 and 20 mils denominations in the 1955 series. And this is the main reason that the beautiful coin of 5 mils can be located in true gem BU condition to this day for a very small price.

Finally, the 1928 45 piastres, is a commemorative silver coin, celebrating the 50 years of British administration on the island and the first silver crown minted for another country than Britain.

Cyprus coins from the 1950's

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