Coins of the Maltese lira Coins of the Maltese lira Coins of the Maltese lira have been struck from when Malta adopted decimal currency in 1972, to 2007, after which Malta adopted the euro. There were 10 mils in one cent, and 100 cents in one Maltese lira. The coins in this series replaced the pre-decimal Pound Sterling which had been in use in Malta since 1825. Therefore, the sizes for some coins were similar to their pre-decimal equivalents, for example the 5c was similar to the shilling and the 10c to the two shillings. These coins were designed by Christopher Ironside OBE. In June
Non-decimal currency of the sub-unit are no longer used. The official currency of the Sovereign Military Order of Malta, which retains its claims of sovereignty under international law and has been granted permanent observer status at the United Nations, is the scudo. The scudo is subdivided into 12 tarì, each of 20 grani with 6 piccioli to the grano. It is pegged to the euro (at a rate of 1:0.24). All other contemporary currencies are either decimal or have no sub-units at all. Historically, the use of decimal sub-units was the exception rather than the rule. Decimalised currencies show an advantage in