20 Lepta

Greece in 1926 was in political freefall — the country had cycled through coups, a failed republic, and the catastrophic population exchange with Turkey following the Asia Minor disaster of 1922. The 1926 coinage was issued under the Second Hellenic Republic, itself barely stabilized after Pangalos's short-lived dictatorship collapsed that same year. Small-denomination coins like this one absorbed the brunt of everyday commerce during a period when monetary confidence was threadbare at best.

The copper-nickel composition replaced earlier base-metal issues as part of broader currency reforms tied to League of Nations financial oversight of Greece in the mid-1920s.