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 the Lady of the Game above the official name of the Megelanese state, Comunità di Mesiolano.
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.
Banknotes
Since 1957, Megelanese pound banknotes have been issued in a textile blend of cotton, hemp and linen, with other textile materials present as well in trace amounts. Just like the designs of the coins, the designs of the banknotes have changed very little since 1957, featuring only the value of each banknote in plain text - without abbreviations - and, on the opposite side, the official name of the Megelanese state, Comunità di Mesiolano, flanked by the official seals of the Community and of the issuing state.
Each state issues banknotes valued 3 lire, 1, 5, 10 and 15 scudi, as well as 30, 60, 120 and 240 scudi. Again, in addition to these general circulation banknotes, numerous series of commemorative banknotes have been issued, whose value for collectors equals or exceeds their face value. Moreover, coins and banknotes alike are produced using recycled metals and textiles whenever possible, and feature unique edges (for coins) or Braille lettering (for banknotes) for the benefit of the blind.
Complementary currencies
The five states of southern Megelan also produce coins and banknotes whose design and value is derived from that of the pre-industrial coins of those five states, while the five states of northern Megelan also produce coins and banknotes whose design and value is derived from that of the 19th century coins of those five states. There is also a wide variety of complementary currencies, from company scrip to time dollars, that are accepted in their locality in addition to, and not in place of, the standard Megelanese pound, and that can be converted into said standard currency, and vice versa, in accordance with national law.
While currencies that utilize blockchain are accepted, in an effort to tackle money laundering, tax evasion and other similar economic phenomena, cryptocurrencies are banned at the national level, due to their negative consequences on the environment, and in order to avoid shortages of those elements that are usually employed in the manufacturing process of graphic cards and other hardware, some of which the Community has to import from abroad at high prices.
Circulation
The Megelanese pound is the currency and legal tender of the Community of Megelan; it does not circulate anywhere else in Tyran, but it is easily and often exchanged for the Delkoran veld and vice versa, due to Delkora and Megelan being neighbouring Common Sphere member countries. For the same reason, the value of the Megelanese pound tends to be kept close to the value of the Delkoran veld.
