|Currency Name||Cypriot Pound (Cents)|
|System||1 Pound = 100 Cents|
In 1955, Cyprus decimalized with 1000 mils (μιλς, mil) to the pound. Colloquially, the 5-mil coin was known as a "piastre" (not an exact equivalence; the piastre was equal to 5 5⁄9 mils) and the 50-mil coin as a "shilling" (an exact equivalence).
The subdivision was changed to 100 cents (σεντ, sent) to the pound in 1983, October 3. Coins were introduced for ½, 1, 2, 5, 10 and 20 cents, with the ½ cent the same size and composition as the earlier 5 mil coins. The other coins were struck in nickel-brass. The ½ cent was only struck in 1983. In 1991, cupronickel, seven-sided (reuleaux heptagon) 50 cent coins were introduced.