All Turkish lira coins, excluding the biggest denomination of one lira, are presently worth less than their scrap value, @e507 wrote on June 24 in a tweet.
In the table below, he calculates the scrap values of Turkish lira (TRY) coins based on metal market prices.
One kurus (TRY0.01) weighs 2.2 grams and is 90% copper (Cu) and 10% zinc (Zn). One gram of copper is worth TRY0.08 on the London Metal Exchange (LME) and one gram of zinc is worth TRY0.03.
As a result, one kurus is worth around 16 kurus in metals, providing a 15-kurus, or 1,539%, arbitrage opportunity.