Akçe

Not to be confused with Aqcha.

Obverse (left) and reverse (right) Murad II's akçe, c. 1430-1431 AD

Akçe (Ottoman: آقچه) is a silver currency that has been printed and used since the early days of the Ottoman Empire. The first coin was printed in Bursa by Orhan Gazi in 1327. Akçe was the basic currency of the Ottoman Empire. Although there was no date printed on this currency in the early periods, the practice of printing dates on coins was started with the sultan Bayezid I.

According to some sources, three coins were equal to one coin. One hundred and twenty coins were equal to one penny. In 1687, the coin unit in the Ottoman monetary system was abolished and the coins were printed according to the kurus method. After this date, money was not printed under the name of akçe, but became a unit used only in accounts. As a fraction of this penny, a copper coin called mangir was printed. 800 mangir coins were minted from one piece of copper to be transferred to two mangirs to one coin. In the 1870s, the penny was replaced by the lira.

Devaluation by year	The Maple Equivalent of 1 Gold Ducat
1477	45
1488	49
1510	54
1523	55
1548	57
1550	60
1566	60
1575	60
1586	120

Name

[edit] |change source] Since the first coin was made of silver, it was called Akçe in the sense of Ak (white, clean, shiny) money. The proverb "white money is for black day" also states that this money is made of white silver, as well as its validity. The coin, which was used in the sense of silver money in the early days, was used as the equivalent of Ottoman money in the general sense after the fifteenth century. As it was used under the name Akçe-i Osmânî, which was in the Ottoman currency, it took different names according to the times of the sultans.

Since the fifteenth century, the coin has been used in the sense of money; It has been given various names such as Lala Yürgüç coin, Avarız coin, Geçer coin, Heart coin. In addition, as a result of the decrease in value; It has also taken the names of Züyuf akçe, Kırıkık akçe, Kızıl akçe, Çil akçe. The money used with the term rotten coin refers to copper coins.

History

[edit] |change source] The first of this currency, which was reserved for the Ottomans, was made of ninety-carat silver and weighed 1,154 grams of six carats. Over time, coins of low carat and different weights were minted. In general, the names of the Four Caliphs of Islam and the Word-i Shahada and the Four Caliphs of Islam were placed on one side in order to commemorate the belief system of the country, and the name of the sultan of the period was on the reverse side (the name of Timur Khan, which corresponds to a depressed period of the Ottoman Empire (Interregnum), was also included on the money, and later Timur's name was removed from the money).

In the founding years of the Ottoman Empire, various coins printed by the Seljuks or other states were used. After a study by the famous Numismatist İbrahim Artuk in 1977, it was determined that Osman Gazi had minted the first Ottoman coin. It is currently on display in the Istanbul Archeology Museum. This silver coin is 15 mm. in diameter and weighs 0.68 gr. On the face of this coin, the place and date of which the place and date of minting are unknown, is the phrase "Darebe Osman Bin Ertuğru Bin Gündüzalp". Later, another Ottoman coin was minted by the second Ottoman sultan, Orhan Gazi. This coin was minted in Bursa in 1327 (H. 727). On one side of the minted coin, there was the Word-i Shahada and the names of the Four Caliphs of Islam around it, on the other side the name of Orhan bin Osman and the name of Bursa indicating the place where it was minted, and below it was the number three with the number siyakat indicating the third year of Orhan Gazi's transition to the principality, and on the sides there was the stamp of the Kayi tribe to which the Ottomans belonged with the year the money was minted in 727. During the time of Orhan Gazi, it was printed on coins similar to the Ilkhanid coins, which were undated and the inscriptions on them were enclosed in a frame consisting of geometric motifs. These coins were frameless and had the phrase Orhan Halledallahu mülkehu on them. It is estimated that these coins, the place and date of which are unknown, belong to the first years when Orhan Gazi took over the administration of the principality.

During the reign of Murad I, who became the sultan after Orhan Gazi, silver coins were printed, as well as copper coins with stamps, fels and mangir features, which did not have a place of printing on them. Although there was no mint place on the silver and copper coins minted during the reign of Bayezid I, the date was present. The setting of these silver coins minted was 90%. During the reign of Bayezid I, the gold ducats of the Venetians were used because the state did not have gold coins. One Venetian ducat was worth forty coins. During the interregnum, Musa Çelebi minted money in his own name in Edirne. Süleyman Çelebi, the eldest son of Bayezid I, also had a tughra placed on the money he printed in his name. During the reign of Mehmed I, there were coins minted in the cities of Amasya, Ayaslug (Selçuk), Bursa, Edirne and Serres.

After Timur established dominance over the Ottomans, Mehmed I printed Timur's name along with his own name on the coins he printed in Bursa in 1404 (H. 806) and recognized his rule. This coin, which is the same as other Ottoman coins in terms of verse and setting, has the words "Word-i Şahadet, Duribe Bursa 806" on one side and on the other side; It was written, "Demûr (Tîmûr) Khan Gurgân, Muhammad ibn Bâyezîd Khân halledallahu mülkehû". Ten years later, when he re-established the Ottoman Union and gained his independence, he removed Timur's name from the coins. Although no nicknames or titles were written on Ottoman coins until the time of Mehmed I, he used the titles "Sultan" and "Han" for the first time. He printed the phrase "Sultân ibn Sultân Muhammad ibn Bâyezîd Khan" on the coins he printed. He also removed the phrase "Halledallahu mülkehû" and replaced the phrase "Azze nasruhü", which continued until the last Ottoman coins.

During the reign of Murad II, coins were printed in the cities of Edirne, Bursa, Ayaslug, Bolu, Engüriye (Ankara), Karahisar, Serez, Tire and Amasya. On the money printed in Bursa and called mangir, there was a stamp under the name of the second Murâd Khan, indicating that the Ottomans came from the Kayi tribe. This stamp was only on coins minted in Bursa and Edirne.

The size of the coin minted by Mehmed II (Fatih), who was the sultan during the health of Murad II, was reduced from 6 carats to 5.25 carats. When Murad II had to take the throne for the second time, he had 375.5 coins cut from 100 dirhams of silver in his name. When Mehmed II became the Ottoman sultan again in 1451 (H. 855) after his father's death, he removed the coins minted during his father's time from circulation; In cities such as Edirne, Ayaslug, Bursa, Serez, Istanbul, Skopje, Amasya, Tire and Novar, he issued new coins weighing 5.25 carats: in 1460 (H. 865) he minted coins weighing 4.75 carats, in 1470 (H. 875) 4.25 carats, and in 1481 (H. 886) 3.25 carats. The setting of all these coins was 90%. Ten coins were minted in Istanbul and Novar. On the front side of these coins, the phrase "Sultân'ul-Barrain wa Hâkân-ul-Bahrain as-Sultân Ibn-is-Sultân" was written, and on the other side, "Muhammad ibn Murâd Khan halledallahu mülkehû duribe fî Kostantiniyye year 875". In addition, no gold coins were minted until the time of Mehmed II, and in 1478 (H. 883) gold coins called sultanî were minted. One of the first gold coins minted weighed 3,510 grams and was 23.5 carats. During the reign of Mehmed II, copper coins called mangir or stamps were also minted as a fraction of the Ottoman coin. A dirham of copper was cut from a mangir, and eight were considered a coin. Of these mangirs, those weighing half a dirham are given half a mangir; Those who weighed 1/4 dirham were called cirik mangir. After the death of Mehmed II, when his son Cem Sultan entered Bursa in 1481 (H. 886), he minted money in his own name during his 18-day rule. During the reign of Bayezid II, coins weighing 4 carats or even 3.5 carats were minted, which was less than those of his father's time. Until this time, the setting of the coins was 90, but in his time it was reduced to 85 carats. These coins are; It was suppressed in Istanbul, Amasya, Bursa, Edirne, Gallipoli, Kratova, Kastamonu, Konya, Novar, Serez, Tire, Trabzon and Skopje. With an order issued during the reign of Bayezid II, it was decided that the miskal of pure gold would be treated at 57 coins, sultân and syphilis floris at 47 coins, and eşrefi (Egyptian gold) and engürüs (Hungarian money) at 45 coins. Towards the end of his reign, the value of the coin was reduced and one gold coin was treated as worth 60 coins. In the same period, the ten acres were also suppressed.

During the reign of Selim I, money was printed in Istanbul, Amasya, Edirne, Amid, Bursa, Cezire, Dimaşk, Harput, Mardin, Mosul, Egypt, Urfa, Serez, Siirt and Tire. The heaviest of the coins minted by Selim I was 3.5 carats, a dirham of silver was worth 4.5 coins and a gold coin was worth 13 coins. Selim I minted copper coins in Egypt in addition to gold and silver coins. Selim I had only the title of Sultan on the coins he minted in Egypt, and these coins were called sultani or eşrefi. Thus, Ottoman gold coins began to be known as eşrefi and şerifi.

During the reign of Suleiman I (the Magnificent), money was minted in places such as Baghdad, Belgrade, Janca, Algeria, Aleppo, Koçaniye, Marash, Modova, Rûha (Urfa), Serborniçe, Syros, Tripoli, Zebit, in addition to the places in the time of Selim I. The coins minted in this period fell to 3.75, 3.50, 2.75, 2.50 carats. In the end, five hundred coins were cut off from one hundred dirhams of silver, and they were made unchangeable. During the reign of Selim II, 525 coins were first cut from 100 dirhams of silver in 85 carats. Later, the carat of silver was gradually lowered. The pictures and embroideries of the coins printed on all sides have been preserved and their dimensions have been reduced. In this period, gold coins of almost the same weight or two or three habbes less than the previous ones were also minted. In addition, a gold coin called Medini was minted in Egypt. One Sultani gold was worth 41 Medini gold. During the reign of Selim II, some Yahûdîs, who were engaged in trade, caused the coins to deteriorate by trimming the coins. As a result, Sokollu Mehmed Pasha took some measures to prevent this. In the same period, new coins were minted under the name of Selîmî. At the time of Selim II, one gold coin was worth 60 coins and five coins were worth one dirham of silver. The carat of the gold was 993 per thousand with the millim calculation.

During the reign of Murad III, the calligraphy and embroidery were the same as in the time of Selim II, but the coins with lower weights were minted. Due to the deterioration in the monetary order and the economic situation, 500 coins were previously minted from one hundred dirhams of silver, while 800 coins were cut. Thus a coin was reduced to 3 or 2.5 carats, and one dirham of silver was treated as equivalent to eight or ten coins. The emergence of magnified coins from Murad III onwards made the value of the coin, which is a measure of value in the state's monetary system, very unstable. In fact, 2,000 zuyuf coins were deducted from one hundred dirhams. A dirham of silver increased to 12 coins, a gold to 120 coins, and a penny from 45 coins to 80 coins. During this period, for the first time in Aleppo and Baghdad, tughra dirhams were minted. Due to the fact that the value of the currency became unstable, some measures were taken later and it was decided to deduct 8 coins from one dirham of silver. These coins were half of the first coins.

During the reign of Mehmed III, 8 coins were cut from one dirham of silver. Corrupted and snobbish coins were collected and the value of coins was increased. In this way, a gold coin began to be treated at 180 coins, while it was treated at 220 coins. In 1600 (H. 1009), with some adjustments made in the monetary system, one gold coin was reduced to 120 coins. In this period, there was no change in the weight and setting of the gold coins, and their paintings and embroideries were not touched.

During the reign of Ahmed I, coins weighing 1.5 carats and 80 carats were minted. During the reign of Mustafa I, money was minted in Amid, Aleppo, and Egypt. During the reign of Osman II (Osman the Younger), money was printed in various places. At this time, the weight of the coin minted was 1.5 carats and its setting was 80. At the time when Mustafa I was deposed and replaced by Osman II, the value of the coin decreased as the missing and low-carat coins increased. II. Since there was a need to reform the printed coins following the julu of Osman, the incomplete and low-carat coins were collected and new 1.5-carat coins were printed. In fact, ten Osmani coins weighing one dirham were minted as a substitute for ten of the existing coins for the convenience of large purchases.

After Mustafa I ascended the throne for the second time, the tens printed by Osman II were printed with insufficient weight. At this time, one gold rose to 150 coins.

During the reign of Murad IV, various coins were minted in places such as Istanbul, Baghdad, Bursa, Egypt, Sana'a, Tripoli and Yenişehir. The weight of the coins minted in this period was 1.25 carats and the carat was 75. Again, the gold minted in Istanbul was one carat less than the previous ones. Since the coin had no value due to the wars that occurred during the reign of Murad IV and the payment of julus tips four times, the gold was treated at the value of 250 coins. As a remedy for this, with the precaution and initiative of the grand vizier Kara Mustafa Pasha of Merzifon, a new coin called real carat money, which weighed a little more than five carats, was issued. Thus, the value of gold was reduced to 120 coins and the penny to 80 coins. In this period, the weight of the coin was 1.5 carats and the weight of the newly cut money, ten of which was valued at one dirham, was adjusted equally to two coins. During the reign of Sultan Ibrahim, money was printed in various centers. Gold coins with a good setting of 1.5 or 2 carats were minted. From this period onwards, the phrase "Al-Muzaffer dâimâ" began to be placed on the tughra printed on the coins. Since the coins minted in this period were zuyûf and magshush, the penny increased to 125 coins and gold to 250 coins. That is why there have been great troubles in the market. Some measures were taken by the Grand Vizier Merzifonlu Kara Mustafa Pasha for the reconstruction of printed coins. Coins weighing 1.25 carats, ten coins weighing one dirham and 5 coins weighing half dirhams, and three coins called money were minted, reducing the penny to 80 coins and gold to 160 coins. The foreign kurus called Assadi were reduced to 60 coins, and the Egyptian currency, which had previously been 4 coins, was reduced to 2 coins.

The kurus, which were used instead of Akçe and were first printed in 1687 by the Ottoman sultan Suleiman II, were used until the end of the reign.

During the reign of Mehmed IV, coins were printed in cities such as Istanbul, Algeria, Aleppo, Egypt, Tripolitania and Tunisia. Since the financial problems continued in this period, the penny was increased to 120 coins and the essadi to 110 coins. The existing money in the market has been reduced by some people. These coins began to be weighed and taken by tradesmen and moneychangers. Grand Vizier Merzifonlu Kara Mustafa Pasha kept the penny fixed at 120 coins, the esedî at 110 coins, and the money at 3 coins, and removed the other red and cropped coins from circulation. The weight of the coins was reduced to one carat and the carat was reduced to 50 percent. During the reign of Suleiman II, some measures were considered to be taken to eliminate financial problems. There was low-groomed gold in the market, which was called Ibrahim Çelebi. Among them, those with high tuning were also seen. Double to those with a high setting; Miscarriages were marked as one. It was declared that unstamped coins would not be valid. In 1687 (H. 1099), the coin unit in the Ottoman monetary system was abolished and the coins were printed according to the kurus method. After this date, money was not printed under the name of money, but became a unit used only in accounts. As a fraction of this penny, a copper coin called mangir was printed. 800 mangir coins were minted from one piece of copper, to be transferred to two mangirs to one coin.

During this period, gold coins were also minted as large money. The penny was treated at 120, sheriff's gold at 270, and gilded gold at 300. Later, due to the emergence of the state of war, it was ordered that the penny should be treated as 160, the sheriff gold as 360, the gilding gold as 400 and the money as 4 coins to cover the war expenses.

When Ahmed II became sultan in 1691 (H. 1102), he minted money in places such as Istanbul, Khanja, and Egypt. In the meantime, copper coins called mangir became impassable and were removed from the market. In this year, Asadi increased to 150, gold to 335 and syphilis to 375. Again, new value was placed on gold and pennies.

The weight and setting of the pennies and gold minted during the reign of Ahmed II was the same as those minted during the time of his brother Suleiman II.

When Mustafa II became sultan in 1695 (H. 1106), he minted money in places such as Istanbul, Edirne, Erzurum, Izmir, Egypt and Tripolitania. In 1696 (H. 1107), due to the high cost of the expedition and the prolongation of the expedition time, it was decided that the money, which had been 3 coins until then, would be transferred to 4 coins. In addition, in order to eliminate foreign state currencies in the market, foreign kurus and zoltas were collected, the Latin letters and phrases on them were erased, and "Sultân-ul-Barrain" was written on one side and the place and date of cutting were written on the other. During the reign of Ahmed III, silver coins of 70 carat in Istanbul and 60 in Egypt were minted with a missing weight. Some of them took advantage of this different situation and started to exchange the Egyptian currency for the Istanbul currency. Thereupon, the government collected the money in the hands of the people. In 1715 (H. 1128), a coin called Cedîd Zer-i Istanbul was issued. One hundred of them were 110 dirhams, with a chain on the edge and embroidery around the apartment. On one side was written tughra and on the other side was written "Duribe fî Islambol". These coins, which were equivalent to three cents, were called funduk in Egypt. During the reign of Ahmed III, the gold coins minted in Istanbul and Egypt were similar to the gold coins of the reign of Mustafa II.

In addition, during the reign of Mustafa II, three, four, five and ten golds were minted in addition to the two gold ashrafi golds. In 1725 (H. 1138), mints were opened in cities such as Tabriz, Tbilisi and Revan and money was minted. In addition to the gold coins called cedîd İstanbulî or funduk in 970 carat and zer-i mahbub in 952 carat, which were the same in shape and weight, the nufîye, which is half of the cedîd Istanbulî gold, and coins of 1, 5, 2, 3 and 5 gold coins were also minted by Mahmud I in various centers.

During the reign of Osman III, coins were minted as in the time of Mahmud I. Large quintines were issued from these coins, which had the names of cities such as Istanbul, Cezâyir, Egypt, etc. III. Gold and silver coins minted during the reign of Mustafa have a special feature. The years in which they were minted are written on these coins. In addition, in 1760 (H. 1174), the phrase Kostantiniyye was removed from these coins and Islam was written. When gold was withdrawn from the market in 1770 (H. 1184), there was a rise in prices. In order to put gold on the market, other currencies were raised. Thus, the zar-i mahbub, which was previously treated at 110 coins, was increased to 120 coins, and the zar-i funduk, which was worth 155 coins, was increased to 165 coins. Also in this era, double zolta worth 60 coins was minted for the first time. During the reign of Abdülhamid I; Gold coins with place names such as Islambol, Dâr-üs-sultanat al-âliyya, Cezâyir, Egypt, Tripolitania, Tunisia were minted. During this period, 60 double zolta weighing 9 dirhams and a single zolta of 30 coins, one-penny, double-penny (double penny) coins of 20, 10 and 1 coins, as well as large copper coins with a diameter of 36 mm. were issued.

During the reign of Selim III, various coins were minted in certain centers. During the short reign of Mustafa IV, various coins with low settings and missing weights were minted in places such as Istanbul, Cezâyir and Egypt. During the reign of Mahmud II, they were on them; Coins with place names such as Constantinople, Dâr-ul-caliphate-ul-âliyye, Dâr-ul-caliphate-is-sâniye, Edirne, Baghdad, Algeria, Egypt, Tripolitania, Tunisia were printed again. In 1809 (H. 1224), since the value of gold in the market increased slightly compared to other currencies, the state suffered losses when gold was treated at the old price in the mint. For this reason, new securities were added to the existing coins. In addition, gold prices appreciated according to various market values. In the tenth and seventh years of Mahmud II's reign, new coins of 60 coins were minted. In 1833 (H. 1249), 240 coins worth 6 cents and parts of them were issued.

During the reign of Abdülmecid I, coins were issued in various centers. During the time of this sultan, the monetary system was reformed and the 22 carats of the British were accepted as the basis. New changes were made to the coin settings and paper money was issued for the first time, but was later abandoned. In 1843 (H. 1259), a new 100-penny lira was issued. In 1844 (H. 1260), ten kurus worth mejidiye and 5 kurus worth half mejidiye were printed. In 1845 (H. 1261), 1 penny was minted, in 1847 (H. 1264), silver was minted in 20 coins, and half liras worth 50 cents were printed. In 1851 (H. 1268), paper money was issued for the second time. Although it was decided not to mint gold coins smaller than 50 cents at first, quarter gold liras of 25 cents were minted in 1854 (H. 1271). In 1855 (H. 1272), 500 kurus (five) and 250 kurus, that is, 2.5 cents, were minted. In addition, 40, 20, 10, 5 coins were extracted from copper. During the reign of Sultan Abdulaziz, gold coins of 500, 250, 100, 50, 25 kurus, as well as silver coins were minted in various centers, while in 1862 (H. 1279), paper money was printed for the third time in Ottoman history. In addition, coins of 10, 20, 50 and 100 kurus, called kaime, were printed. This caused the paper money to depreciate greatly. Gold prices rose. After a while, the use of paper money was abandoned. £8 million was borrowed from the UK to ensure monetary stability.

During the short reign of Murad V, money was also printed in various centers. In the gold coins minted in Istanbul, there was a crescent star slightly above the tugra, and there was a flower branch next to the tughra of the gold minted in Egypt. In his time, gold coins of 100, 50, 25 cents were minted. At the same time, silver coins of 20, 5 and 1 cents were also minted.

During the reign of Abdülhamid II, 10, 5, 2, 1 penny and 20 coins were printed. In 1877 (H. 1294), paper money was printed for the fourth time in the account of the Ottoman Bank. After 1879 (H. 1296), the Medjidie was not suppressed. Gold coins of 500, 250, 100, 50 and 25 were minted in 22 carats. In addition, jewellery gold of 500, 250, 100, 50, 25 and 12.5 was removed. In 1898 (H. 1316), mixed coins of 10 and 5 coins mixed with 10% silver and copper were minted.

During the reign of Mehmed V (Reşad), various coins were minted in cities such as Istanbul, Bursa, Edirne, Kosovo, Monastir, and Thessaloniki. Some studies were carried out for the reform of the Ottoman currency, and in 1913 (H. 26 March 1332), the Law of Tawhid al-Meskukat was enacted. According to this law, it was decided that the basic measure of all money would be gold and the currency would be the penny. Nickel pennies, which were the currency and passed to the rank of gold and were called kâime, were minted for 40 coins. The 20, 10 and 5 pennies, which are parts of the penny, are made of nickel; 2, 5, 10 and 20 penny coins are made of silver; Coins of 25, 50, 250, 500 kurus were minted from gold. On the silver coins minted in this period, as on the gold coins, on the right side of the sultan's tughra was the title of Reshad until the seventh year of his reign, and Al-Gâzî after him. In this period, nickel meskukât was minted in 10, 40, 5 coins.

During the reign of Mehmed VI (Vahideddîn), coins were minted from 22-carat gold, similar to the coins minted during the reign of Mehmed V, without any inscription or flowers on the right side of the tughra. This practice was the same for silver coins. In this period, gold coins of 500, 250, 50, 25 cents were minted. 500, 250, 100, 50, 25 and 12.5 jewellery gold; In addition, 20, 10, 5, 2 penny notes were also minted in this period. 40 coins were minted from a mixture of 75% copper and 25% nickel. Gold and silver coins minted during the Ottoman Empire were used together with newly released coins for a while during the republican period. Gold coins are still in circulation.

Idioms and phrases

[edit | change source] Over time, various idioms and expressions related to money have emerged:

Âkçe-i Osmanî

[edit | change source] The money, which was used as the Ottoman currency before the penny, was called Osmanî in reference to the name of the founder of this state, the coins printed for the first time in the history of the Ottoman Empire. The fact that this money was referred to with a national and special title was also a sign of the formation of the sultanate government. Until the end of Yavuz Selim's reign, the name Osmânî was used. However, when the term "coin" was used in the determination and allocation of salaries to be given to civil servants, this name was not used. However, the term Akçe-i Osmânî was widely used. Although only the term coin was used for a while, it started to be used again during the reign of Osman II, as ten akçelik Osmânî coins were printed. The old coin was a quarter of the dirham, while ten coins were one dirham. In the following periods, Ottoman gold was specially called Osmânî.

Coin Board

[edit]change source] It is the name of the board on which moneychangers and tellers in official offices count money. It is a long board that is open at both ends, edged and narrows towards the end and becomes a groove. The money counted on the wide side would pour out of the gutter. There is a separate section on some money boards so that the counted coins are not mixed with the uncounted coins. The person who will count the coins piles the coins in the wide part, counts them towards the narrow throat, and drops the coins from the narrow throat without an edge into the pouch, into his hand or into the hand of the person to whom he will give the coin. It is possible to come across coin boards in some miniatures, and in Nasreddin Hodja's paragraph titled "Shadow Kadısı", "Coin board" is mentioned. In December 2014, a coin board from the Ottoman period was added to the Topkapı Palace Museum collection.

Coin difference

[edit] |change source] It is the name given to the difference between the moneychangers who exchange the currencies of various states or various currencies of a state, as a result of the exchange of two currencies. In addition, this was the difference received by the state as a result of the exchange of two currencies to record income in the treasury. The state treasury was once one gold, one hundred; The mejidiyah is taken at nineteen cents; gold, one hundred and a half and a half; The mejidiye was also sold for twenty cents. The difference between buying and selling was shown as income in the state records under the name of money difference.

Coin head

[edit] |change source] Before the Tanzimat, in addition to certain taxes and duties, a number of taxes were levied in order to cover the deficits in state expenditures in peacetime, called imâdiyye-i hazâriyya, and in order to find the money needed for war in wartime, a number of taxes, generally called takâlif-i örfîyya, were levied under the name of imâdiyye-i seferiyye and iâne-i jihâdiyya. Sometimes, considering that these would not be enough, domestic borrowing was resorted to. In return for borrowing in this way, a difference similar to the difference in money was paid in the name of re'sul-mâl, güzeşte and akçe başı. This was called the head of the coin.

The terms coin tajdîdi, coin adulteration, coin tashîhi are also closely related to the history of coins;

Coin seizure

[edit] |change source] As soon as the Ottoman sultans took the throne, the first thing they did was to have a sermon read on their behalf and print money. When the Sultan put into circulation the new coins he printed in his name, he forbade the circulation of the coins printed by the previous sultan. Thereupon, the old coins in circulation were exchanged either as scrap silver or with new coins at a rate determined by the state. However, the implementation of the ban was sometimes not so strict. The owners of the old coins were given new coins as much as they were worth. The prohibition of coins and the prohibition of coins provided the treasury with an income arising from the right to mint and the mint fee. The more silver the mints processed, the greater this income. Sometimes the weight of the coin was reduced and adulterated along with the coinage, thus making a small devaluation. Sometimes the janissaries would revolt because of the seizure of coins.

Coin adulteration

[edit] |change source] It is the reduction of the adjustment and weight of the coin. Coin adulteration by the decision of the government is a part of the coinage deposit. Sometimes it was seen that mints adulterated coins without orders and permissions, and stole the weight of the coins. For this reason, many mints were closed by order of the sultan.

Coin correction

[edit]change source] Coin adulteration would occur when official or unofficial coin adulteration caused distress in the market, when no urgent measures were taken due to war or any other reason. This was often done by non-Muslims, especially Jews, who were engaged in goldsmithing, and stealed the silver by trimming the edges of the coins. In order to put an end to this confusion, the sultans used to do what they did in coin tashîhi under the name of coin tashîhi. In the correction of coins, new coins were put into circulation either in the old carat and weight or by reducing the weight of one mikdâr.

As a result of the coin adjustments made by means of coin adjustment, coin adulteration and coin adjustment, the prices of goods increased and the fair value of gold coins also increased. For this reason, when significant monetary adjustments were made, the prices of goods were re-determined and public narh schedules were published.

After the 1584 adjustment, Koca Sinan Pasha issued such a list of narhs. In 1600, this list was amended, and in 1641 a new list of narhs was issued in the correction of coins.

Akçe-i büzürg

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See also

• Akşa

External links

• Ottoman coins
• September 1, 2013 - A huge treasure of 47,000 silver Akçe discovered in Goleşti, Romania
• Akçe, 1481: Crimean Khanate (Ottoman Empire)