Greek drachma 5 drachmae) were issued from 1885, with the first 5-drachma notes being made by cutting 10-drachma notes in half. When Greece finally achieved its independence from the Ottoman Empire in 1828, the phoenix was introduced as the monetary unit; its use was short-lived, however, and in 1832 the phoenix was replaced by the drachma, adorned with the image of King Otto of Greece, who reigned as modern Greece's first king from 1832 to 1862. The drachma was divided into 100 lepta. In 2002 the drachma ceased to be legal tender after the euro, the monetary unit of the European Union,
Greek drachma with King Constantine II's portrait. A new series of all 8 denominations was introduced in 1976 carrying images of early national heroes on the smaller values. Cupro-nickel 50-drachmae coins were introduced in 1980. In 1986, nickel-brass 50-drachma coins were introduced, followed by copper 1- and 2-drachma pieces in 1988 and nickel-brass coins of 20 and 100 drachmae in 1990. In 2000, a set of 6 themed 500-drachma coins was issued to commemorate the 2004 Athens Olympic Games. Coins in circulation at the time of the adoption of the euro were The first issues of banknotes were in denominations of 10,