Counterfeit metal and paper money produced and launched by domestic and foreign counterfeiters during the period 1818-1914 used to widely circulate in the markets of Istanbul and throughout the country by intensifying on certain currency types from time to time. It became inevitable that a wide variety of socio-economic outcomes emerged in an economy where these counterfeits could be transferred to the market in a more or less concentrated way. The major problems that counterfeit money may

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... in the markets are as follows: hindering the functions of money such as medium of exchange, store of value and unit of account; making difficult to collect tax revenues in a deteriorating market environment; harming the public finance; giving direction to the new economic policies since efficiency of the fiscal and monetary policies constantly decreased; decreasing citizen-state relationships and in parallel leading to multifaceted consequences that threatens economic, financial, social and administrative stability. Surely, the depth of these problems is directly related to the quantity and intensity of counterfeit money in the market.