Thepoundorlira(Hebrew:לירה ישראליתLira Yisra'elit,Arabic:جنيه إسرائيليJunayh ʾIsrāʾīlī;abbreviation:IL[1]inLatin,ל "יinHebrew;code ILP) was thecurrencyof theState of Israelfrom 9 June 1952 until 23 February 1980. The Israeli pound replaced thePalestine poundand was initially pegged at par to £1sterling.It was replaced by theshekelon 24 February 1980, at the rate of IS 1 = IL 10, which was in turn replaced by thenew shekelin 1985.
 IL 500 note (obverse and reverse) issued in 1975 | |
| ISO 4217 | |
| Code | ILP |
| Unit | |
| Plural | pounds (לירותlirot) |
| Symbol | ל "י (Hebrew), IL (Latin) |
| Denominations | |
| Subunit | |
| 1⁄1000 | mil(1951–1952) pruta(1952–1960) |
| 1⁄100 | agora(1960–1980) |
| Plural | |
| mil(1951–1952) pruta(1952–1960) | prutot (פרוטות) |
| agora(1960–1980) | agorot (אגורות) |
| Banknotes | IL 5, IL 10, IL 50, IL 100, IL 500 |
| Coins | 1, 5, 10, 25 agorot, IL1⁄2,IL 1, IL 5 |
| Demographics | |
| Date of introduction | 9 June 1952 |
| Date of withdrawal | 23 February 1980 |
| Replaced by | First shekel |
| User(s) |  Israel(1952–1980) |
| Issuance | |
| Central bank | Bank Leumi(1952–1955) Bank of Israel(1955–1980) |
| Valuation | |
| Pegged with | £1stgat par (1952–1954) |
| This infobox shows the latest status before this currency was rendered obsolete. | |
Before the new currency was brought in, theAnglo-Palestine Bankissued banknotes denominated in Palestine pounds. They were in Hebrewלירה א״י (lira E.Y.i.e.liraEretz-Yisraelit) andArabicjunayh filisṭīnī(جنيه فلسطيني).[2]
On 1 May 1951, all the assets and liabilities of the Anglo Palestine Bank were transferred to a new company calledBank LeumiLe-Yisrael (Israel National Bank) and the currency name became:lira yisraelit(לירה ישראלית) in Hebrew,junayh ʾisrāʾīlīin Arabic, and Israeli pound in English.[3]The new currency was issued in 1952, and entered circulation on June 9. From 1955, after theBank of Israelwas established and took over the duty of issuingbanknotes,only the Hebrew name was used.[4]
History
editTheBritish Mandate of Palestinewas created in 1918. In 1927 the Palestine Currency Board, established by the British authorities, and subject to the BritishSecretary of State for the Colonies,issued thePalestine pound(£P) which was legal tender in Mandate Palestine and Transjordan. £P1 was fixed at exactly £1sterling.It was divided into 1,000mils.
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 1,000prutot.The Israeli pound retained the Palestine pound's sterling peg. In August 1948, new banknotes were issued by the London-basedAnglo-Palestine Bank,owned by theJewish 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 theHebrewnameprutah(Hebrew:פרוטה). A second series of banknotes was issued after the Anglo-Palestine Bank moved its headquarters toTel Avivand became theBank Leumi(Hebrew:בנק לאומי"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 100agorot(singularagora,Hebrew:אגורה,אגורות).
Becauselira(Hebrew:לִירָה) was a loanword fromLatin,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 fromlirato the Hebrew nameshekel(Hebrew:שקל). 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 calledold Israeli shekel), at a rate of IL 10 = IS 1. On 1 January 1986, the old shekel was replaced by theIsraeli new shekelat a ratio of IS1,000:₪1.
Coins
editIsrael'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 250prutah.The coins were conceived, in part, by Israeli graphic designerOtte Wallish.
All coins and banknotes issued in Israel before June 1952 were part of thePalestine pound.
In 1960, coins were issued denominated in agora. There were 1, 5, 10 and 25 agorot pieces. In 1963, IL1⁄2and IL 1 coins were introduced, followed by IL 5 coins in 1978.
The IL 5 denomination had previously been used fornon-circulating commemorative coins,including silver coins with aHanukkahtheme.[5]
Mil (1949)
edit| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date ofwithdrawal |
|---|---|---|---|---|---|---|---|---|
|
25mils | 30 | 3.1—3.8 | aluminium97%, magnesium 3% | Grape,"Israel" inHebrewandArabic | Value,oliveornament | 06.04.1949 | 06.09.1950 |
Pruta (1949–1960)
edit| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date ofwithdrawal |
|---|---|---|---|---|---|---|---|---|
|
1 pruta | 21 | 1.3 | aluminium97%, magnesium 3% | Anchor,"Israel" inHebrewandArabic | Value, olive ornament | 25.10.1950 | 22.02.1960 |
|
5 prutot | 20 | 3.2 | copper 95%,tin3%,zinc2% | Lyre,"Israel" inHebrewandArabic | 28.12.1950 | 22.02.1960 | |
|
10 prutot | 27 | 6.1 | Amphora,"Israel" inHebrewandArabic | 04.01.1950 | 22.02.1960 | ||
|
10 prutot | 24.5 | 1.6 | aluminium97%, magnesium 3% | Amphora,palms, "Israel" inHebrewandArabic | 18.09.1952 | 22.02.1960 | |
|
10 prutot | 24.5 | 1.6 | Amphora,palms, "Israel" inHebrewandArabic | 27.12.1956 | 22.02.1960 | ||
|
25 prutot | 19.5 | 2.8 | copper 75%, nickel 25% | Grape,"Israel" inHebrewandArabic | 04.01.1950 | 22.02.1960 | |
|
50 prutot | 23.5 | 5.6 | Grape,"Israel" inHebrewandArabic | 11.05.1949 | 22.02.1960 | ||
|
100 prutot | 28.5 | 11.3 | Palm, "Israel" inHebrewandArabic | 25.05.1949 | 22.02.1960 | ||
|
100 prutot | 25.6 | 7.3 | steel 90%, nickel 10% | Palm, "Israel" inHebrewandArabic | 21.04.1955 | 22.02.1960 | |
|
250 prutot | 32.2 | 14.1 | copper 75%, nickel 25% | Hordeum, "Israel" inHebrewandArabic | 11.10.1950 | 22.02.1960 | |
|
500 prutot | 37.1 | 25 | silver50%, copper 37,5%, nickel 12,5% | Threepomegranates,"Israel" inHebrewandArabic | 22.05.1952 | 22.02.1960 |
Agora (1960–1978)
edit| Image | Value | Diameter (mm) | Mass (g) | Composition | Obverse | Reverse | Date of issue | Date ofwithdrawal |
|---|---|---|---|---|---|---|---|---|
|
1 agora | 21 | 1.3 | aluminium97%, magnesium 3% | Barley,"Israel" inHebrewandArabic | Value, date | 12.05.1960 | 22.02.1980 |
|
5 agorot | 17,5 | 2.3 | 1960—1975:copper92%,aluminium6%,nickel2%
1976—1979: aluminium 97%, magnesium 3% |
Threepomegranates,"Israel" inHebrewandArabic | 20.10.1960 | 22.02.1980 | |
|
10 agorot | 21,5 | 5 | 1960—1977:copper92%,aluminium6%,nickel2%
1978—1979: aluminium 97%, magnesium 3% |
Date palm,"Israel" inHebrewandArabic | 06.05.1960 | 31.03.1984 | |
|
25 agorot | 25,5 | 6.5 | copper92%,aluminium6%,nickel2% | Lyre,"Israel" inHebrewandArabic | 17.03.1960 | 22.02.1980 | |
|
IL1⁄2 | 24,5 | 6.8 | copper75%,nickel25% | Thestate emblem,"Israel" inHebrew,ArabicandEnglish | 12.09.1963 | 31.03.1984 | |
|
IL 1 | 27,5 | 9 | |||||
|
IL 1 | 27,5 | 9 | Three pomegranates, thestate emblem,"Israel" inHebrew,ArabicandEnglish | Value, date, two stars | 1967 | ||
|
IL 5 | 30 | 11,2 | Lion, thestate emblem,"Israel" inHebrew,ArabicandEnglish | 21.09.1978 |
Banknotes
editIn 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 | ||||
|
500 prutah (IL1⁄2) | 148 × 72 mm | Olive-green on light-blue | The denomination in centre and above "Bank Leumi le-Israel B.M."all inHebrew;all surrounded by guilloches. | The denomination and "Bank Leumi le-Israel B.M."all inArabicandEnglish;all surrounded by guilloches. | 9 June 1952 | 7 February 1961 |
|
IL 1 | 150 × 75 mm | Green-pink | ||||
|
IL 5 | 155 × 80 mm | Red-brown | ||||
|
IL 10 | 155 × 80 mm | Gray-pink | ||||
|
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 | ||||
|
500 pruta (IL1⁄2) | 130 × 72 mm | Red | Ruins of an ancientsynagogueatBir'amin theUpper Galilee. | An abstract design. | Menorahwith an imprint ofcyclamen. | 4 August 1955 | 31 March 1984 |
|
IL 1 | 135 × 72 mm | Blue | View of theUpper Galilee. | Menorahwith an imprint ofanemones. | 27 October 1955 | ||
|
IL 5 | 140 × 78 mm | Brown | Negevlandscape with a settlement and farm equipment. | Menorahwith an imprint ofirises. | |||
|
IL 10 | 150 × 82 mm | Green | View of theJezreel Valleydepicting settlements and cultivated fields. | Menorahwith an imprint oftulips. | 4 August 1955 | ||
|
IL 50 | 160 × 87 mm | Blue | Theroad toJerusalem. | Menorahwith an imprint ofoleander. | 19 September 1957 | ||
Second series (1959)
edit| Image | Value | Dimensions | Main Colour | Description | Date of | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | issue | ceased to be legal tender | ||||
|
IL1⁄2 | 130 × 70 mm | Green | Pioneer-woman soldierholding a basket of oranges against a background of fields. | Tomb of the SanhedrininJerusalem. | The profile of the woman. | 15 October 1959 | 31 March 1984 |
|
IL 1 | 135 × 75 mm | Blue | Fisherman carrying fishing gear against a background of a bay. | Mosaic from the floor of an ancientsynagogueatlssafiyaonMt. Carmel. | The profile of the fisherman. | ||
|
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 atMegiddo. | The profile of the labourer. | ||
|
IL 10 | 150 × 82 mm | Purple | Scientist in a laboratory. | Passage from theBook of Isaiahand theDead Sea Scrolls. | The profile of the scientist. | ||
|
IL 50 | 178 × 93 mm | Brown | Two youngpioneersagainst a background of an agricultural settlement in theNegev. | Menorahfrom the ancientsynagogueofNirimin theNegev. | 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 | ||||
|
IL 5 | 150 × 75 mm | Light blue | Portrait ofAlbert Einstein. | TheAtomic reactor at Nahal Sorek. | Profile ofAlbert Einstein. | 13 January 1972 | 31 March 1984 |
|
IL 10 | 160 × 82 mm | Yellow-ivory | Portrait ofChaim Nachman Bialik. | Bialik's homeinTel-Aviv. | Profile ofChaim Nachman Bialik. | 6 August 1970 | |
|
IL 50 | 170 × 84 mm | Brown-red | Portrait ofChaim Weizmann. | TheKnesset BuildinginJerusalem. | Profile ofChaim Weizmann. | 13 January 1972 | |
|
IL 100 | 180 × 90 mm | Blue | Portrait ofTheodor Herzl. | TheEmblemof theState of Israelsurrounded by the emblems of thetwelve tribes. | Profile ofTheodor Herzl. | 27 February 1969 | |
Fourth series (1975)
edit| Image | Value | Dimensions | Main Colour | Description | Date of | |||
|---|---|---|---|---|---|---|---|---|
| Obverse | Reverse | Watermark | issue | ceased to be legal tender | ||||
|
IL 5 | 128 × 76 mm | Brown | Portrait ofHenrietta Szold;Hadassah HospitalonMt. ScopusinJerusalem. | Lion's Gatein theOld City of Jerusalem. | Profile ofHenrietta Szold. | 11 March 1976 | 31 March 1984 |
|
IL 10 | 135 × 76 mm | Pink-purple | Portrait ofMoshe Montefiori;theMishkanot Shaananimquarter inJerusalemwith thewindmill. | Jaffa Gatein theOld City of Jerusalem. | Profile ofMoshe Montefiori. | 30 January 1975 | |
|
IL 50 | 141 × 76 mm | Green | Portrait ofChaim Weizmann;the Wix Library at theWeizmann Institute of Science. | Damascus gatein theOld City of Jerusalem. | Profile ofChaim Weizmann. | 26 January 1978 | |
|
IL 100 | 147 × 76 mm | Blue | Portrait ofTheodor Herzl;the entrance gate toMt. HerzlinJerusalem. | Zion Gatein theOld City of Jerusalem. | Profile ofTheodor Herzl. | 14 March 1975 | |
|
|
IL 500 | 153 × 76 mm | Ivory-brown | Portrait ofDavid Ben-Gurion;the library atkibbutz Sde Boker. | Golden Gatein theOld City of Jerusalem. | Profile ofDavid Ben-Gurion. | 26 May 1977 | |
See also
editCitations
edit- ^"Bank of Israel Law, 5714–1954*"(PDF).3 September 1954.
- ^One Palestine Pound,IL: Bank of Israel, archived fromthe originalon April 27, 2006
- ^One Israeli Pound,IL: Bank of Israel, archived fromthe originalon 2007-09-27
- ^First Series of the Pound,IL: Bank Le-Israel, archived fromthe originalon 2007-09-27
- ^Thomas V. Haney (November 5, 1972)."Israel Series Marks 25th Anniversary".New York Times.RetrievedJanuary 8,2024.
General and cited references
edit- Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins:1801–1991(18th ed.). Krause Publications.ISBN0873411501.
- Pick, Albert (1994).Standard Catalog of World Paper Money:General Issues.Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.ISBN0-87341-207-9.
External links
edit
- Past Notes & Coins Series.Bank of Israel
