Coins
Decimal coinage was introduced in 1972 (one year after the United Kingdom) in denominations of 2, 3 and 5 mils, 1, 2, 5, 10 and 50 cents. The division of the lira into 100 cents (rather than the 240 pence of the old system) meant that the cent was a relatively large unit - the United Kingdom introduced the decimal ½ penny for this reason. Malta went "one better" in introducing the mil. It will be noted that there was no one mil coin. However, the coins that were provided (2, 3, and 5 mils) allowed goods to be priced (and change given) for any number of mils. In 1975, a 25 cent coin was introduced.
A new coinage was issued in 1986 in denominations of 1, 2, 5, 10, 25 and 50 cents and 1 lira. A third series was introduced in 1991 due to the change in Malta's coat of arms. The mils were withdrawn in 1994, although for some time only the 5 mils had been seen (and then only rarely).
Read more about this topic: Maltese Lira
Famous quotes containing the word coins:
“A war undertaken without sufficient monies has but a wisp of force. Coins are the very sinews of battles.”
—François Rabelais (1494–1553)
“No Time, spoke the clocks, no God, rang the bells,
I drew the white sheet over the islands
And the coins on my eyelids sang like shells.”
—Dylan Thomas (1914–1953)