During the first 13 years of the Republic of Cyprus, the coins in circulation were those of the decimal system ‘mil’ introduced by the British colonial administration in 1955. The first coins of the Republic were minted in 1963. The denominations remained the same, except for the discontinuation of the 3 mils coins and the introduction of the 1 mil coin. Hence the denominations were 1 mil, 5, 25, 50 and 100 mils. In October 1983, a new decimal system was introduced and the Cyprus pound was divided into 100 cent. With the change of the decimal system the CBC placed in circulation new coins with nominal values of ½, 1, 2, 5, 10 and 20 cent. In 1991, a 50 cent coin was introduced and in 1992 the ½ cent coin ceased to be legal tender. With the accession of Cyprus to the euro area on 1 January 2008, the euro coins replaced the Cyprus pound coins.