Megelanese pound
| Megelanese pound | |
|---|---|
| Lira mesiolanese (Italian) | |
| ISO 4217 | |
| Code | MEL |
| Number | 278 |
| Exponent | 2 |
| Denominations | |
| Superunit | |
| 6⁄1 | scudo |
| Subunit | |
| 1⁄20 | soldo |
| 1⁄240 | denaro |
| Plural | lire |
| Symbol | L. |
| Nickname | franco |
| Banknotes | 3 lire; 1, 5, 10, 15 scudi; 30, 60, 120, 240 scudi. |
| Coins | 1, 3, 6, 9 denari; 1, 5, 10, 15 soldi; 1 lira. |
| Demographics | |
| Date of introduction | 1957 |
| User(s) |  Megelan |
| Issuance | |
| Central bank | Bank of Vergate sul Membro |
| Mint | Several |
| Valuation | |
| Pegged with | Common Monetary System |
The Megelanese pound is the currency and legal tender of the Community of Megelan; it is subdivided into 20 shillings. A shilling is, in turn, subdivided into 12 pence. The Italian terms lira, soldo and denaro by which the Megelanese pound and its subdivisions are known in the Community originate from the Latin terms libra, solidus and denarius, the libra being a unit of account equal to one pound of silver.
The Megelanese pound also has a superunit, the shield or scudo; a scudo is worth six pounds.
The current version of the Megelanese pound was introduced in 1957, the date being that of the Community's entrance into the Common Sphere; as a result, the Megelanese pound is an integral part of the Common Monetary System, inside which it originally had an exchange rate of three Megelanese pounds for an Acrean mark, before the current currency basket system was established.
History
Before 1919, each state in Megelan issued its own currency; these currencies had, however, a shared origin in the livre. Under Futurist rule, a single currency was established - the pound or lira, a decimalized currency sudvidided into 100 cents or centesimi. After the Megelanese Civil War and until the entrance of the Community into the Common Sphere in 1957, the old Futurist currency kept circulating, alongside the so-called Community pound, identical to the Futurist pound in denomination and value, but devoid of any kind of Futurist imagery.
After 1957, the Megelanese pound reverted to the old livre-derived subdivisions, and the states' right to issue their own currencies was restored but, owing to the establishment of a central bank in Vergate sul Membro, the differences between the variants of the Megelanese pound issued inside each state are now strictly aesthetic in nature, even though some states still produce odd denominations in addition to, and not in place of, the standardized ones.
Coins
Since 1957, Megelanese pound coins have been issued in a stainless steel alloy consisting mostly of iron, with carbon, chromium, magnesium, silicium, sulfur and phosphorus present as well in trace amounts. The designs of the coins have changed very little since 1957, featuring only numerals, the abbreviations "L.", "s." and "d." for lira, soldo and denaro and, on the opposite side, the portrait of a historical personality of significance to the issuing state above the official name of the issuing state itself.
Each state issues coins valued 1, 3, 6 and 9 denari, 1, 5, 10 and 15 soldi, and 1 lira. In addition to these general circulation coins, numerous series of commemorative coins have been issued, as well as silver and gold coins; even though these coins are legal tender, their metal value or their value for collectors equals or exceeds their face value.
