In 1920, following World War I, Lebanon came under French mandate, adopting the Lebanese pound (also known as the lira) as its official currency, which was pegged to the French franc. When Lebanon gained independence in 1943, the Lebanese pound remained its official currency.
The Lebanese pound is divided into 100 piastres, with initial coin denominations of 1, 2.5, 5, 10, 25, and 50 piastres. However, over time, these smaller denominations became impractical due to inflation.
Years of economic instability, civil war, and recent hyperinflation have caused a significant devaluation of the Lebanese pound. This decline in value has affected the use of coins in everyday transactions. Many of the smaller denominations are now obsolete in practice.
The coins currently in circulation are the 50, 100, 250 and 500 pounds. The 50 pound coins are made from nickel-plated steel, while the 100 pound coins consist of a combination of steel and nickel. The 250 pound coins are made from Nordic gold, and the 500 pound coins from nickel-plated steel. The obverse side of these coins typically features the iconic Lebanese cedar tree, while the reverse side displays the coin's denomination and Arabic inscriptions.
As of January 2023, only the 250 pound and 500 pound coins remain in circulation. Lower denomination coins have become worthless due to hyperinflation.
