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Chapter III |
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The Anglo-Palestine Bank Limited Never approved for circulation |
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When the British Mandate over Palestine ended on 15th May 1948, and the British authorities subsequently left the country, they took with them most of the banknotes that were in circulation since 1927. |
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500 Mils |
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Cat. # 1.1 |
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Cat. # 1.2 |
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Cat. |
Date |
Details |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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01.1 |
5708 |
1948 |
No cancellation stamps |
00,000.00 |
00,000.00 |
00,000.00 |
000,000.00 |
000,000.00 |
003,500.00 |
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01.2 |
Two cancellation stamps on obverse (sometimes visible on reverse) |
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1 Palestine Pound Dated: 16 May 1948 |
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Cat. |
Date |
Details |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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02.1 |
5708 |
1948 |
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3,500.00 |
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5 Palestine Pounds Dated: 16 May 1948 |
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Cat. # 3.1 |
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Cat. # 3.2 |
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Cat. |
Date |
Details |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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03.1 |
5708 |
1948 |
No cancellation stamps |
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3,500.00 |
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03.2 |
Two cancellation stamps on obverse (sometimes visible on reverse) |
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10 Palestine Pounds Dated: 16 May 1948 |
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Cat. # 4.1 |
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Cat. # 4.2 |
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Cat. |
Date |
Details |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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04.1 |
5708 |
1948 |
No cancellation stamps |
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3,500.00 |
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04.2 |
Two cancellation stamps on obverse (sometimes visible on reverse) |
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The Anglo-Palestine Bank Limited 1 Palestine Pound = 1000 Mils |
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When the leaders of the Yishuv (the Jewish community in British Mandatory Palestine) were engaged in establishing the new State, one of the matters they had to deal with was its currency. As the name of the new nation had not been decided, the question arose as to what would be printed on the banknotes. The banknotes could not be printed in this country as the British Mandate had not yet expired, and also for lack of the required technical expertise. At the same time it was clear that no reputable foreign firm would print money for a nonexistent state. After considerable effort, Siegfried Hoofien, then Chairman of the Board of the Anglo-Palestine Bank, persuaded the American Banknote Company of New York to print the banknotes. To obviate the need for State Department approval for printing banknotes of a foreign country, the notes as ordered gave no indication of their being legal tender. The legend "Legal tender for payment of any amount" was subsequently overprinted. In addition, the company stipulated that its name should not appear on the notes. The design of the banknotes was based on different combinations of guilloches in the company's stock, some of which were used for printing banknotes for China! When the banknotes were ordered, no one yet knew what the name of the new state would be, let alone its currency. It was therefore decided to print "Palestine Pound" on the notes, the currency of the mandate. |
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500 Mils Date of issue: 18 August 1948 |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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14 |
undated |
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70.00 |
90.00 |
150.00 |
300.00 |
600.00 |
1,000.00 |
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1 Palestine Pound Date of issue: 18 August 1948 |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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15 |
undated |
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50.00 |
65.00 |
90.00 |
150.00 |
250.00 |
400.00 |
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5 Palestine Pounds Date of issue: 18 August 1948 |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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16 |
undated |
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50.00 |
65.00 |
100.00 |
160.00 |
250.00 |
400.00 |
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10 Palestine Pounds Date of issue: 18 August 1948 |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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17 |
undated |
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90.00 |
140.00 |
220.00 |
350.00 |
500.00 |
800.00 |
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50 Palestine Pounds Date of issue: 18 August 1948 |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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18 |
undated |
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5,000.00 |
5,500.00 |
7,000.00 |
10,000/00 |
15,000.00 |
26,000.00 |
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Israel (Ministry of Finance) |
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In the first years of the State there was a shortage of coins. Hence, the Finance Ministry decided to issue fractional currency to meet the need for small change. |
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50 Mil |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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6 |
undated |
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80.00 |
120.00 |
180.00 |
260.00 |
350.00 |
600.00 |
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100 Mil |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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7 |
undated |
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80.00 |
120.00 |
180.00 |
280.00 |
400.00 |
620.00 |
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State of Israel (Ministry of Finance) |
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In the first years of the State there was a shortage of coins. Hence, the Finance Ministry decided to issue fractional currency to meet the need for small change. |
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50 Pruta |
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Cat. |
Date |
Signatures |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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8 |
undated |
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150.00 |
180.00 |
230.00 |
300.00 |
450.00 |
700.00 |
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50 Pruta |
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Cat. |
Date |
Signatures |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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9 |
undated |
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50.00 |
60.00 |
80.00 |
110.00 |
160.00 |
250.00 |
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50 Pruta |
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Cat. |
Date |
Signatures |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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10a |
undated |
Kaplan - Zagagi |
10.00 |
20.00 |
40.00 |
70.00 |
130.00 |
200.00 |
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10b |
Eshkol - Zagagi |
10.00 |
20.00 |
35.00 |
60.00 |
90.00 |
150.00 |
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10c |
Eshkol - Neeman |
3.00 |
3.50 |
5.00 |
7.00 |
10.00 |
15.00 |
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100 Pruta |
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Cat. # 11b |
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Common reverse |
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Cat. |
Date |
Signatures |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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11a |
undated |
Kaplan - Zagagi |
20.00 |
30.00 |
50.00 |
90.00 |
150.00 |
220.00 |
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11b |
Eshkol - Neemen |
20.00 |
30.00 |
50.00 |
100.00 |
160.00 |
250.00 |
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100 Pruta |
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Cat. |
Date |
Signatures |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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12a |
undated |
Kaplan - Zagagi |
30.00 |
40.00 |
55.00 |
80.00 |
130.00 |
200.00 |
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12b |
Eshkol - Zagagi |
15.00 |
25.00 |
40.00 |
70.00 |
110.00 |
180.00 |
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12c |
Eshkol - Neeman |
4.50 |
5.00 |
6.00 |
7.50 |
10.00 |
15.00 |
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12d |
Eshkol - Neeman; Neeman inverted error |
850.00 |
950.00 |
1,100.00 |
1,400.00 |
2,000.00 |
3,000.00 |
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250 Pruta |
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PICTURE PENDING |
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"Gimel" series, with Menorah right |
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PICTURE PENDING
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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13a |
undated |
"Aleph" series, with Menorah |
15.00 |
20.00 |
30.00 |
45.00 |
65.00 |
110.00 |
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13b |
"Aleph" series, without Menorah |
10.00 |
15.00 |
20.00 |
30.00 |
45.00 |
75.00 |
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13c |
"Beth" series, without Menorah |
10.00 |
12.00 |
16.00 |
22.00 |
35.00 |
50.00 |
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13d |
"Gimel" series, with Menorah left |
20.00 |
30.00 |
45.00 |
65.00 |
100.00 |
150.00 |
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13e |
"Gimel" series, with Menorah right |
20.00 |
30.00 |
45.00 |
75.00 |
100.00 |
150.00 |
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13f |
"Gimel" series, without Menorah |
18.00 |
25.00 |
35.00 |
55.00 |
85.00 |
130.00 |
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In many instances the Menorah is only visible when the note is held against an ultra-violet lamp. On the image of the reverse of cat. # 13d, part of the Menorah is reasonably clearly visible, the left arm running through the digit 5 of the serial number on the left. |
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Bank Leumi Le-Israel B.M. |
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On 1st May 1951 all assets and liabilities of the Anglo Palestine Bank were transferred to a new company called Bank Leumi Le-Israel B.M., and it therefore became necessary to issue a new series of banknotes. These were almost identical to the Anglo-Palestine Bank series, except that the colour of some of the notes was different. The name of the currency was changed to "Israeli Lira" ("Israel Pound"). |
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500 Prutah |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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19 |
undated |
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30.00 |
50.00 |
100.00 |
220.00 |
380.00 |
600.00 |
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1 Lira |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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20 |
undated |
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18.00 |
20.00 |
25.00 |
40.00 |
60.00 |
100.00 |
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5 Lirot |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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21 |
undated |
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30.00 |
40.00 |
60.00 |
100.00 |
200.00 |
300.00 |
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10
Lirot |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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22 |
undated |
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40.00 |
60.00 |
100.00 |
160.00 |
250.00 |
400.00 |
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50 Lirot |
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Cat. |
Date |
Varieties |
Value USD |
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Heb. |
Civil |
VG |
F |
VF |
XF |
AU |
Unc. |
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23 |
undated |
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450.00 |
500.00 |
800.00 |
1,200.00 |
2,000.00 |
2,800.00 |
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