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What is Double Mecidi

Concepts, Cases, and Regulations in Financial Fraud and Corruption
The minted gold coins were called Mecidiye. There were 500 kurus (five hundred/five-piece) that weighed 11 dirhams and was 4 carats, 100 kurus (hundreds) that weighed 2 dirhams and was 4 carats, and 250 kurus (coined in the ninth year of Culûs) that weighed 5 dirhams and was 10 carats. In addition, 50 (half) and 25 (quarter) gold Mecidis were coined. New silver coins were minted in the sixth year of the Culûs: 1 silver Mecidi (20 kurus) that weighed 7 dirhams and was 8 carats, 1/2 Mecidiye (10 kurus) that weighed 3 dirhams and was 12 carats, 1/4 mecidiye (5 kurus) that weighed 1 dirham and was 14 carats. Specifically for these silver coins, the name Mecidi became well known, and later such coins were also called Mecidi. Among the people, 10 kurus were called a half and 5 kurus were called a quarter. Smaller units were double (12 carats), kurus (6 carats) and 20 paras (3 carats). Silver Mecidis were known as “white mecidi” or “silvery mecidiye” among the people.
Published in Chapter:
Counterfeiting Money and Anti-Counterfeit Measures: The Historical Case of the Ottoman Empire
Busra Karataser (Tekırdag Namık Kemal, Turkey)
Copyright: © 2023 |Pages: 17
DOI: 10.4018/978-1-6684-5007-9.ch003
Abstract
This study is designed to investigate the use of counterfeit money in the Ottoman Empire. Firstly, the concept of money and the reasons for the use of counterfeit money in the Ottoman Empire are described. Secondly, the reasons for the formation of counterfeit money are examined. Thirdly, the precautions taken against counterfeit money in the Ottoman Empire are discussed. The goal of this study is to investigate the counterfeit money printing incidents that had taken place. Moreover, the anti-counterfeit measures are identified that are implemented by Ottoman Empire to curb this crime and to remove counterfeit money from the market.
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