100 Kuruş

These notes were issued under the Hazine-i Celile — the Imperial Treasury — rather than through a central bank, because the Ottoman Empire had no such institution in 1861. The Kaime, as these treasury notes were collectively known, had a troubled history stretching back to the 1840s: earlier issues had depreciated catastrophically, and public distrust of paper money ran deep. The 1861 series was part of a broader fiscal attempt to stabilize state finances during a period of heavy foreign borrowing and post-Crimean War debt obligations.

Counterfeiting was a persistent problem with Kaime issues generally, and the government struggled to enforce redemption terms consistently.