The scudo (plural scudi) is the official currency of the Sovereign Military Order of Malta and was the currency of Malta during the rule of the Order over Malta, which ended in 1798. It is subdivided into 12 tari (singular taro), each of 20 grani with 6 piccioli to the grano. It is pegged to the euro (at a rate of 1:3/-[1])
History
The scudo was issued until 1798 but circulated on the island of Malta until replaced by the Maltese pound in 1825, at a rate of 1 pound = 12 scudi. The Order of Malta (now based in Rome) has issued souvenir coins denominated in grani, tari and scudi since 1961, although few countries currently recognise these as legal tender.
The present-day Republic of Malta moved to a decimal currency in 1972, the Maltese lira. In 2008 Malta adopted the euro.
Coins
Coins were issued in denominations of 1, 2½, 5 and 10 grani, 1, 2, 4 and 6 tari, 1, 1¼, 1⅓, 2, 2½, 5, 10 and 20 scudi. The 1, 2½, 5 and 10 grani and 1 taro were minted in copper, with the 2½ grani denominated as 15 piccioli. The 2, 4 and 6 tari, 1, 1¼, 1⅓, 2 and 2½ scudi were silver coins, with the 1¼, 1⅓ and 2½ scudi denominated as 15, 16 and 30 tari. The 5, 10, 20 scudi coins were gold.
Coins minted today include bronze 10 grani, silver 9 tari, 1 and 2 scudi and gold 5 and 10 scudi [1]
References
- ^ "A Little History". Catalogue. Order of Malta. http://www.orderofmalta.int/catalogue/38626/a-little-history/?lang=en. Retrieved 2012-03-14.
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