The pound or lira (Template:Langx Lira Yisra'elit, Template:Langx Junayh ʾIsrāʾīlī; abbreviation: IL<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> in Latin, ל"י in Hebrew; code Template:ISO 4217) was the currency of the State of Israel from 9 June 1952 until 23 February 1980. The Israeli pound replaced the Palestine pound and was initially pegged at par to £1 sterling. It was replaced by the shekel on 24 February 1980, at the rate of IS 1 = IL 10, which was in turn replaced by the new shekel in 1985.
Before the new currency was brought in, the Anglo-Palestine Bank issued banknotes denominated in Palestine pounds. They were in Hebrew Template:Script/Hebrew (lira E.Y. i.e. lira Eretz-Yisraelit) and Arabic junayh filisṭīnī ({{#invoke:Lang|lang}}).<ref>Template:Citation</ref>
On 1 May 1951, all the assets and liabilities of the Anglo Palestine Bank were transferred to a new company called Bank Leumi Le-Yisrael (Israel National Bank) and the currency name became: lira yisraelit (Template:Script/Hebrew) in Hebrew, junayh ʾisrāʾīlī in Arabic, and Israeli pound in English.<ref>Template:Citation</ref> The new currency was issued in 1952, and entered circulation on June 9. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes, only the Hebrew name was used.<ref>Template:Citation</ref>
HistoryEdit
Template:See also{{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= Template:Ambox }} }} The British Mandate of Palestine was created in 1918. In 1927 the Palestine Currency Board, established by the British authorities, and subject to the British Secretary of State for the Colonies, issued the Palestine pound (£P) which was legal tender in Mandate Palestine and Transjordan. £P1 was fixed at exactly £1 sterling. It was divided into 1,000 mils.
The Mandate came to an end on 14 May 1948, but the Palestine pound continued in circulation until new currencies replaced it. In Israel, the Palestine pound continued in circulation until the Israeli pound was adopted in 1952. The Israeli pound was subdivided into 1,000 prutot. The Israeli pound retained the Palestine pound's sterling peg. In August 1948, new banknotes were issued by the London-based Anglo-Palestine Bank, owned by the Jewish Agency.
The new coins were the first to bear the new state's name, and the banknotes had "The Anglo-Palestine Bank Limited" written on them. While the first coins minted by Israel were still denominated in "mils", the next ones bore the Hebrew name prutah (Template:Langx). A second series of banknotes was issued after the Anglo-Palestine Bank moved its headquarters to Tel Aviv and became the Bank Leumi (Template:Langx "National Bank"). The peg to sterling was abolished on 1 January 1954, and in 1960, the subdivision of the pound was changed from 1,000 prutot to 100 agorot (singular agora, Template:Langx).
Because lira (Template:Langx) was a loanword from Latin, a debate emerged in the 1960s over the name of the Israeli currency due to its non-Hebrew origins. This resulted in a law ordering the Minister of Finance to change the name from lira to the Hebrew name shekel (Template:Langx). The law allowed the minister to decide on the date for the change. The law came into effect in February 1980, when the Israeli government introduced the 'Israeli shekel' (now called old Israeli shekel), at a rate of IL 10 = IS 1. On 1 January 1986, the old shekel was replaced by the Israeli new shekel at a ratio of ISTemplate:Nbsp1,000Template:Nbsp:Template:Nbsp₪1.
CoinsEdit
Israel's first coins were aluminium 25 mil pieces, dated 1948 and 1949, which were issued in 1949 before the adoption of the pruta. Later in 1949, coins were issued in denominations of 1, 5, 10, 25, 50, 100 and 250 prutah. The coins were conceived, in part, by Israeli graphic designer Otte Wallish.
All coins and banknotes issued in Israel before June 1952 were part of the Palestine pound.
In 1960, coins were issued denominated in agora. There were 1, 5, 10 and 25 agorot pieces. In 1963, IL Template:1/2 and IL 1 coins were introduced, followed by IL 5 coins in 1978.
The IL 5 denomination had previously been used for non-circulating commemorative coins, including silver coins with a Hanukkah theme.<ref>Template:Cite news</ref>
Mil (1949)Edit
| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date of withdrawal |
|---|---|---|---|---|---|---|---|---|
| File:25 mil coin – the State of Israel's first coin.png | 25 mils | 30 | 3.1—3.8 | aluminium 97%, magnesium 3% | Grape, "Israel" in Hebrew and Arabic | Value, olive ornament | 06.04.1949 | 06.09.1950 |
Pruta (1949–1960)Edit
| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date of withdrawal |
|---|---|---|---|---|---|---|---|---|
| File:Israel 1 Prutah 1950 Obverse & Reverse.gif | 1 pruta | 21 | 1.3 | aluminium 97%, magnesium 3% | Anchor, "Israel" in Hebrew and Arabic | Value, olive ornament | 25.10.1950 | 22.02.1960 |
| File:Israel 5 Prutah 1950 Obverse & Reverse.gif | 5 prutot | 20 | 3.2 | copper 95%, tin 3%, zinc 2% | Lyre, "Israel" in Hebrew and Arabic | 28.12.1950 | 22.02.1960 | |
| File:Israel 10 Prutah 1950 Obverse & Reverse.gif | 10 prutot | 27 | 6.1 | Amphora, "Israel" in Hebrew and Arabic | 04.01.1950 | 22.02.1960 | ||
| File:10-Pruta-aluminium-hatashyab-RJP.jpg | 10 prutot | 24.5 | 1.6 | aluminium 97%, magnesium 3% | Amphora, palms, "Israel" in Hebrew and Arabic | 18.09.1952 | 22.02.1960 | |
| File:Israel 10 Prutah 1956 Obverse & Reverse.gif | 10 prutot | 24.5 | 1.6 | Amphora, palms, "Israel" in Hebrew and Arabic | 27.12.1956 | 22.02.1960 | ||
| File:Israel 25 Prutah 1950 Obverse & Reverse.gif | 25 prutot | 19.5 | 2.8 | copper 75%, nickel 25% | Grape, "Israel" in Hebrew and Arabic | 04.01.1950 | 22.02.1960 | |
| File:Israel 50 Prutah 1949 Obverse & Reverse.gif | 50 prutot | 23.5 | 5.6 | Grape, "Israel" in Hebrew and Arabic | 11.05.1949 | 22.02.1960 | ||
| File:Israel 100 Prutah 1949 Obverse & Reverse.gif | 100 prutot | 28.5 | 11.3 | Palm, "Israel" in Hebrew and Arabic | 25.05.1949 | 22.02.1960 | ||
| File:Israel 100 Prutah 1955 Obverse & Reverse.gif | 100 prutot | 25.6 | 7.3 | steel 90%, nickel 10% | Palm, "Israel" in Hebrew and Arabic | 21.04.1955 | 22.02.1960 | |
| File:Israel 250 Prutah 1950 Obverse & Reverse.gif | 250 prutot | 32.2 | 14.1 | copper 75%, nickel 25% | Hordeum, "Israel" in Hebrew and Arabic | 11.10.1950 | 22.02.1960 | |
| File:Israel 500 Prutah 1952 Obverse & Reverse.gif | 500 prutot | 37.1 | 25 | silver 50%, copper 37,5%, nickel 12,5% | Three pomegranates, "Israel" in Hebrew and Arabic | 22.05.1952 | 22.02.1960 |
Agora (1960–1978)Edit
| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date of withdrawal |
|---|---|---|---|---|---|---|---|---|
| File:1-Agora-hatashlad-RJP.jpg | 1 agora | 21 | 1.3 | aluminium 97%, magnesium 3% | Barley, "Israel" in Hebrew and Arabic | Value, date | 12.05.1960 | 22.02.1980 |
| File:Israel 5 agorot 1960 Obverse & Reverse.gif | 5 agorot | 17,5 | 2.3 | 1960—1975: copper 92%, aluminium 6%, nickel 2%
1976—1979: aluminium 97%, magnesium 3% |
Three pomegranates, "Israel" in Hebrew and Arabic | 20.10.1960 | 22.02.1980 | |
| File:Israel 10 agorot 1960 Obverse & Reverse.gif | 10 agorot | 21,5 | 5 | 1960—1977: copper 92%, aluminium 6%, nickel 2%
1978—1979: aluminium 97%, magnesium 3% |
Date palm, "Israel" in Hebrew and Arabic | 06.05.1960 | 31.03.1984 | |
| File:25-Agorot-hatashlag-RJP.jpg | 25 agorot | 25,5 | 6.5 | copper 92%, aluminium 6%, nickel 2% | Lyre, "Israel" in Hebrew and Arabic | 17.03.1960 | 22.02.1980 | |
| File:Israel half pound 1963 Obverse & Reverse.gif | IL Template:1/2 | 24,5 | 6.8 | copper 75%, nickel 25% | The state emblem, "Israel" in Hebrew, Arabic and English | 12.09.1963 | 31.03.1984 | |
| File:Israel 1 pound 1963 Obverse & Reverse.gif | IL 1 | 27,5 | 9 | |||||
| File:1 Israeli Lira coin.jpg | IL 1 | 27,5 | 9 | Three pomegranates, the state emblem, "Israel" in Hebrew, Arabic and English | Value, date, two stars | 1967 | ||
| File:Israel 5 pound 1978 Obverse & Reverse.gif | IL 5 | 30 | 11,2 | Lion, the state emblem, "Israel" in Hebrew, Arabic and English | 21.09.1978 |
BanknotesEdit
In 1948, the government issued fractional notes for 50 and 100 mils. The Anglo-Palestine Bank issued banknotes for 500 mils, 1, 5, 10 and 50 pounds between 1948 and 1951. In 1952, the government issued a second series of fractional notes for 50 and 100 prutah with 250 prutah notes added in 1953. Also in 1952, the "Bank Leumi Le-Israel" took over paper money production and issued the same denominations as the Anglo-Palestine Bank except that the 500 mils was replaced by a 500 prutah note.
The Bank of Israel began note production in 1955, also issuing notes for 500 prutah, IL 1, IL 5, IL 10 and IL 50. In 1968, IL 100 notes were introduced, followed by IL 500 notes in 1975.
Bank Leumi series (1952)Edit
| Image | Value | Dimensions | Main Colour | Description | Date of | ||
|---|---|---|---|---|---|---|---|
| Obverse | Reverse | issue | ceased to be legal tender | ||||
| File:Israel 500 Pruta 1952 Obverse & Reverse.jpg | 500 prutah (ILTemplate:1/2) | 148 × 72 mm | Olive-green on light-blue | The denomination in centre and above "Bank Leumi le-Israel B.M." all in Hebrew; all surrounded by guilloches. | The denomination and "Bank Leumi le-Israel B.M." all in Arabic and English; all surrounded by guilloches. | 9 June 1952 | 7 February 1961 |
| File:Israel 1 Israel Pound 1952 Obverse & Reverse.jpg | IL 1 | 150 × 75 mm | Green-pink | ||||
| File:Israel 5 Israel Pound 1952 Obverse & Reverse.jpg | IL 5 | 155 × 80 mm | Red-brown | ||||
| File:Israel 10 Israel Pound 1952 Obverse & Reverse.jpg | IL 10 | 155 × 80 mm | Gray-pink | ||||
| File:Israel 50 Israel Pound 1952 Obverse & Reverse.jpg | IL 50 | 160 × 85 mm | Brown-green | ||||
First series (1955)Edit
| Image | Value | Dimensions | Main Colour | Description | Date of | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | issue | ceased to be legal tender | ||||
| File:Israel 500 Pruta 1955 Obverse & Reverse.jpg | 500 pruta (IL Template:1/2) | 130 × 72 mm | Red | Ruins of an ancient synagogue at Bir'am in the Upper Galilee. | An abstract design. | Menorah with an imprint of cyclamen. | 4 August 1955 | 31 March 1984 |
| File:Israel Lira 1955 Obverse & Reverse.jpg | IL 1 | 135 × 72 mm | Blue | View of the Upper Galilee. | Menorah with an imprint of anemones. | 27 October 1955 | ||
| File:Israel 5 Lirot 1955 Obverse & Reverse.jpg | IL 5 | 140 × 78 mm | Brown | Negev landscape with a settlement and farm equipment. | Menorah with an imprint of irises. | |||
| File:Israel 10 Lirot 1955 Obverse & Reverse.jpg | IL 10 | 150 × 82 mm | Green | View of the Jezreel Valley depicting settlements and cultivated fields. | Menorah with an imprint of tulips. | 4 August 1955 | ||
| File:Israel 50 Lirot 1955 Obverse & Reverse.jpg | IL 50 | 160 × 87 mm | Blue | The road to Jerusalem. | Menorah with an imprint of oleander. | 19 September 1957 | ||
Second series (1959)Edit
| Image | Value | Dimensions | Main Colour | Description | Date of | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | issue | ceased to be legal tender | ||||
| File:Israel HalfLira 1958 Obverse & Reverse.jpg | IL Template:1/2 | 130 × 70 mm | Green | Pioneer-woman soldier holding a basket of oranges against a background of fields. | Tomb of the Sanhedrin in Jerusalem. | The profile of the woman. | 15 October 1959 | 31 March 1984 |
| File:Israel Lira 1958 Obverse & Reverse.jpg | IL 1 | 135 × 75 mm | Blue | Fisherman carrying fishing gear against a background of a bay. | Mosaic from the floor of an ancient synagogue at lssafiya on Mt. Carmel. | The profile of the fisherman. | ||
| File:Israel 5 Lira 1958 Obverse & Reverse.jpg | IL 5 | 140 × 78 mm | Brown | Labourer holding a sledge-hammer against a background of an industrial plant. | Roaring lion depicted on an ancient Hebrew seal found at Megiddo. | The profile of the labourer. | ||
| File:Israel 10 Lir 1958 Obverse & Reverse.jpg | IL 10 | 150 × 82 mm | Purple | Scientist in a laboratory. | Passage from the Book of Isaiah and the Dead Sea Scrolls. | The profile of the scientist. | ||
| File:Israel 50 Lira 1958 Obverse & Reverse.jpg | IL 50 | 178 × 93 mm | Brown | Two young pioneers against a background of an agricultural settlement in the Negev. | Menorah from the ancient synagogue of Nirim in the Negev. | The profile of the pioneers. | 9 December 1960 | |
Third series (1970)Edit
| Image | Value | Dimensions | Main Colour | Description | Date of | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | issue | ceased to be legal tender | ||||
| File:Israel 5 Sheqalim 1968 Obverse & Reverse.jpg | IL 5 | 150 × 75 mm | Light blue | Portrait of Albert Einstein. | The Atomic reactor at Nahal Sorek. | Profile of Albert Einstein. | 13 January 1972 | 31 March 1984 |
| File:Israel 10 Lirot 1968 Obverse & Reverse.jpg | IL 10 | 160 × 82 mm | Yellow-ivory | Portrait of Chaim Nachman Bialik. | Bialik's home in Tel-Aviv. | Profile of Chaim Nachman Bialik. | 6 August 1970 | |
| File:Israel 50 Lirot 1968 Obverse & Reverse.jpg | IL 50 | 170 × 84 mm | Brown-red | Portrait of Chaim Weizmann. | The Knesset Building in Jerusalem. | Profile of Chaim Weizmann. | 13 January 1972 | |
| File:Israel 100Lirot 1968 Obverse & Reverse.jpg | IL 100 | 180 × 90 mm | Blue | Portrait of Theodor Herzl. | The Emblem of the State of Israel surrounded by the emblems of the twelve tribes. | Profile of Theodor Herzl. | 27 February 1969 | |
Fourth series (1975)Edit
See alsoEdit
CitationsEdit
General and cited referencesEdit
External linksEdit
- Past Notes & Coins Series. Bank of Israel
Template:Historical currencies of Israel Template:Pound (currency) Template:Portal bar