|Currency Name||Cypriot Pound (British, Mils)|
|System||1 Pound = 1000 Mils|
In 1955, Cyprus decimalised with 1000 mils (μιλς, mil) to the pound. Earlier issues were withdrawn from circulation and were replaced by coins of Queen Elizabeth II, denominated in mils. The coins that were issued are the following:
3 mils, 5 mils (also issued in 1956), 25 mils, 50 mils, and 100 mils (also issued in 1957).
The 50 mil coin became known as a 'shilling', because it was the same size as the 1 shilling and 9 piastre coins. The 100 mil coin became known as '2 shillings', because it was the same size as the 2 shilling and 18 piastre coins. The 5 mil coin and 100 mil coin of 1956 are very sought after by collectors of Commonwealth coins. The 100 mils is very rare.