Modern drachma
former currency of Greece (1833 ... 2002)
The drachma (Greek: δραχμή [ðraxˈmi]) was the official currency of modern Greece from 1832 until the launch of the euro in 2002.
First modern drachma
The drachma was reintroduced in May 1832, shortly before the establishment of the Kingdom of Greece. It replaced the phoenix at par. The drachma was subdivided into 100 lepta.
Coins
The first coinage consisted of copper denominations of 1 lepton, 2 lepta, 5 lepta and 10 lepta, silver denominations of 1⁄4 drachma (25 lepta), 1⁄2 drachma (50 lepta), 1 drachma and 5 drachmae and a gold coin of 20 drachmae. The drachma coin weighed 4.5 g and contained 90% silver, with the 20 drachmae coin containing 5.8 g of gold.
In 1868, Greece joined the Latin Monetary Union, and the drachma became equal in weight and value to the French franc. The new coinage issued consisted of copper coins of 1, 2, 5 and 10 lepta, with the 5- and 10-lepton coins bearing the names obolos (ὀβολός) and diobolon (διώβολον), respectively; silver coins of 20 lepta, 50 lepta, 1 drachma, 2 drachmae and 5 drachmae and gold coins of 5, 10 and 20 drachmae. (Very small numbers of 50- and 100-drachma coins in gold were also issued.)
In 1894, cupro-nickel 5-, 10- and 20-lepton coins were introduced. No 1- or 2-lepton coin had been issued since the late 1870s.
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