Split Distinct Greek Currencies

Following catalogues like Krause and Pick, Numista currently ignores the currency reform that took place in Greece between 1869 and 1882. Information on this reform (which took 13 years to be completed) can be found in both English and Greek.

The reform replaced the original drachme from 1832 with a new drachme (equivalent to the French franc and other Latin Union currencies) worth 1.12 times the original. Both the silver and gold coins reflect this change in their bullion content. The banknotes of the new drachme began to be issued in 1870 and featured the letter “Ν” for “Νεα” ("New"). Full entry into the Latin Union was achieved in 1882, although the gold 20 drachmai coins were not struck until 1884.

If this split is implemented, we're best off creating a new currency

First modern drachme (1832-1869)

and renaming the existing currencies to
Second modern drachme (1869-1944)
Third modern drachme (1944-1953)
Fourth modern drachme (1954-2001)

This will keep the number of coins and notes that need moving to a minimum.

Pinging only concerned referee: @DoubleEggbert56 

This suggestion seems to have got forgotten about. Is there any chance @DoubleEggbert56  could take a look? The evidence is quite clear but it would be best if the referee is on board with the change.

Hello,

My sincere apologies for the absence. I have read through the linked material, and I do think that due to the revaluation of older Greek currency to a new rate relative to post-LMU, that the currency should be split. As a way of distinguishing them, since the old currency was still kept in circulation, they could be named as such:

1st modern drachma (1832-1870)

2nd modern drachma (Latin Monetary Union standard, 1870-1944)

3rd modern drachma (1944-1953) [currently listed as 2nd]

4th modern drachma (1953-2002) [currently listed as 3rd]

Please let me know if you feel there is a better way to organize these.

Thanks for looking into this. As far as I can tell, the 1st drachme circulated until 1882 (although I can find no issues between 1869 and 1882), so we could use that as its end date. The second drachme was meant to start circulating in 1869 (coins started production in 1868). However, as the first banknotes were produced in 1870, that may be the best start date. Consequently, I'd go with your proposal except to extend the first drachme until 1882.

ceh2019

Thanks for looking into this. As far as I can tell, the 1st drachme circulated until 1882 (although I can find no issues between 1869 and 1882), so we could use that as its end date. The second drachme was meant to start circulating in 1869 (coins started production in 1868). However, as the first banknotes were produced in 1870, that may be the best start date. Consequently, I'd go with your proposal except to extend the first drachme until 1882.

Hello,

I just had a look in my Hellas catalogue, and it says that the first of the “new” drachmai began circulating in March 1870 (25, 100, and 500 drachmai). If you look at Greek coins of the era, coins dated from 1868 onward seem to adhere to LMU weights/purity and were minted in France, but I don't know exactly when they were introduced. I might have to look into this some more, but at least for now we have confirmation when banknotes of the “new” drachma was introduced.

That all sounds good. We're missing the 1870 dates for both the 25 and 500 drachmai but I think we can implement the split with 1870 as the start date and amend if more information comes to light.

ceh2019

That all sounds good. We're missing the 1870 dates for both the 25 and 500 drachmai but I think we can implement the split with 1870 as the start date and amend if more information comes to light.

Thanks for pointing this out. Interestingly, I just double checked the Hellas date table for the series, and it lists the first date of the 25 as 1871, and the 500 as 1872, despite claiming both were issued in 1870. However, there are 4 dates of the 100 drachma note from 1870, so I believe at least one of them was issued then.

I know these things can take time but are we any closer to implementing this split?