Currency Confusion Helps Smokers

In a radical monetary reform, Turkey recently eliminated six zeroes from its currency price, making it necessary for new notes and coins.

But when the new money came out, the one lira coin (photo) looked exactly liked the euro zone's €2 coin. The two were so similar that older German cigarette vending machines couldn't tell the difference. Pretty soon, savvy customers were buying €4 packs using lire, paying only around €1.10.

"That which everyone has feared has come about," wrote the Turkish newspaper, Hurriyet, in an article last week.

European currency officials have been in contact with Turkish authorities about the potential problem since early 2004, according to Peter Lind, the managing director of the German business association for cigarette vending machines.

"The Turkish government agreed that in the next stamping - coins are always re-issued - there will be some changes made," said Lind.

Until then, those smokers lucky enough to have gone to Turkey in the last few weeks are in paradise. There are up to 72,000 of the old machines in Germany alone and the manufacturers are responsible for any money lost. Fortunately for them it hasn't been too widespread of a problem.

"The extent is negligible," Lind said.