Georgian Lari: From Ancient Colchis to Modern Currency

Illustrated Specimen: 1 Lari, Georgia (2006)

The specimen in the photo: 1 lari, 2006 (Georgia)

Obverse and Reverse: On both sides of the coin, an ancient Colchis coin is reproduced in the form of microelements — the image of a lion's head. The obverse indicates the denomination "1 ლარი" (1 lari). The reverse features the inscription "საქართველო" (Sakartvelo — the native name of Georgia) and the state coat of arms. The edge of the coin bears the inscription: საქართველო - Georgia.

Coat of Arms Description: A heraldic shield depicting a rider on a horse with a spear ending in a cross (Saint George with a halo, striking a dragon). The shield is crowned with the Iverian (Georgian) crown. The supporters are two lions standing on a base with a stylized grape vine ornament. The base is embellished with a ribbon bearing the motto written in Mkhedruli letters: "ძალა ერთობაშია" (Strength is in unity). Heraldic crosses are depicted at the beginning and the end of the inscription on the ribbon.

1. GEORGIA (1995-...): lari = 100 tetri

Origin of the name: The name "lari" (Georgian ლარი) comes from an ancient Georgian word that translates as "treasure" or "property". The name of the fractional coin "tetri" is an ancient Georgian monetary term meaning "white", which was historically used in medieval coinage. The Georgian lari and the Maldivian laari share a similar English spelling but have absolutely nothing in common in terms of etymology or historical background.

History and Development of the Georgian Lari

The Georgian lari is the official currency of Georgia, introduced into circulation on October 2, 1995. It replaced the Georgian kuponi, which was used as a transitional currency during 1993-1995 (no coins were issued during this period).

Denomination System and Minting

The lari is divided into 100 tetri. After the introduction of the new currency, two series of coins entered circulation: the 1993 series (denominations of 1, 2, 5, 10, 20, and 50 tetri) and the 2006 series (50 tetri, 1 lari, and 2 lari). The first 1-lari coin intended for general circulation is dated 2006, while the first non-circulating issues appeared as early as 1995.

All coins of the first series were manufactured in France at the Paris Mint. Coins of the second series were minted in three different countries: 50 tetri in Austria, 1 lari in the Netherlands, and 2 lari in Great Britain. In addition to circulating coins, commemorative and anniversary coins have been issued since 1995.

Design and Symbolism

The design of Georgian coins reflects a desire to revive national identity through references to medieval and pre-Soviet cultural heritage. The coins typically feature the state coat of arms, historical motifs, and numerical designations using both Latin and Georgian alphabets. In 2014, the official lari symbol, ₾, was adopted. It is based on the Georgian letter ლ (Lasi), stylized with two horizontal lines symbolizing stability.

Historical Laari (Maldives)

In a different historical context, the term "laari" (or "lari") refers to a fractional coin in the Maldivian monetary system. These were small silver or copper coins that served as local trade money. The Maldives had a long tradition of using cowrie shells as currency, and laari coins became part of a later stage in the development of their monetary system. Today, the laari is exclusively a fractional unit (1 rufiyaa = 100 laari).