Israeli pound

From Wikipedia, the free encyclopedia
  (Redirected from Israeli lira)
Jump to: navigation, search
Israeli pound
לירה ישראלית (in Hebrew)
ليرة إسرائيلية (in Arabic)
Israel 500Lirot 1975 Obverse & Reverse.jpg
I£500 note (observe and reverse) issued in 1975
ISO 4217
Code ILP
Denominations
Subunit
 1/1000 pruta (1950–1960)
 1/100 agora (1960–1980)
Plural pounds (לירות lirot)
pruta (1950–1960) agorot (אגורות)
agora (1960–1980) prutot (פרוטות)
Symbol ל"י or I£
Banknotes I£5, I£10, I£50, I£100, I£500
Coins 1, 5, 10, 25 agorot, I£1/2, I£1, I£5
Demographics
User(s)  Israel (1952-1980)
Issuance
Central bank Bank Leumi (1952-1955)
Bank of Israel (1955-1980)
Valuation
Pegged with British pounds (1952-1954)
Pegged by I£1:£1
This infobox shows the latest status before this currency was rendered obsolete.
Palestine pound note, 1929

The Israeli pound (Hebrew: לירה ישראליתLira Yisr'elit, Arabic: ليرة إسرائيلية‎) or Israeli lira was the currency of the State of Israel from June 1952 until 23 February 1980, when it was replaced with the shekel on 24 February 1980, which was again replaced with the New Shekel in 1985.

Until 1952, the name used on the notes of the Anglo-Palestine Bank was Palestine pound, in Hebrew לירה א"י (lira E.Y. i.e. lira Eretz-Yisraelit). In Arabic, the name was given as junayh filisţīnī (جنيه فلسطيني).[1]

In 1952, the Anglo-Palestine Bank changed its name to Bank Leumi Le-Yisrael (Israel National Bank) and the currency name became: lira yisraelit (לירה ישראלית) in Hebrew, junayh isrāīlī in Arabic, and Israel pound in English.[2] From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes, only the Hebrew name was used, along with the symbol "I£".[3]

History[edit]

The British Mandate of Palestine, which administered the territory now known as Israel, Jerusalem, the West Bank and Gaza prior to May 15, 1948, issued the Palestine pound, a currency equal in value and pegged to the UK Pound, which was divided into 1000 Mils. Banknotes in circulation were issued by the Palestine Currency Board, which was subject to the British Secretary of State for the Colonies.

Israel inherited the Palestine pound but, shortly after the establishment of the state, new banknotes were issued by the London-based Anglo-Palestine bank of the Zionist movement. The new coins were the first to bear the new state's name, while the banknotes said "The Anglo-Palestine Bank Limited". While the first coins minted by Israel still bore the name "mil", the next ones bore the Hebrew name prutah (Hebrew: פרוטה‎). A second series of banknotes was issued after the Anglo-Palestine Bank moved its headquarters to Tel Aviv and changed its name to Bank Leumi (Hebrew: בנק לאומי‎ "National Bank"). The pegging to the UK Pound was abolished on January 1, 1954, and in 1960, the sub-division of the pound was changed from 1000 prutot to 100 agorot (singular agora Hebrew: אגורה ,אגורות‎).

During the 1960s, a debate over the non-Hebrew name of the Israeli currency resulted in a law ordering the Minister of Finance to change the name pound into a Hebrew name, Shekel (שקל). The law allowed the minister to decide on a proper date for the change. The law did not come into effect until February 1980, when the Israeli government decided to change the monetary system and introduce the shekel at a rate of 1 shekel = 10 lirot.

Coins[edit]

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, 1/2 and 1 pound coins were introduced, followed by 5 lirot coins in 1978.

Banknotes[edit]

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 lirot (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 pruta, 1, 5, 10 and 50 lirot. In 1968, 100 lirot notes were introduced, followed by 500 lirot notes in 1975.

Bank Leumi Series (1952)[edit]

Image Value Dimensions Main Colour Description Date of
Obverse Reverse issue ceased to be legal tender
Israel 500 Pruta 1952 Obverse & Reverse.jpg 500 prutah (I£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 surrouned by guilloches. The denomination and "Bank Leumi le-Israel B.M." all in Arabic and English; all surrouned by guilloches. 9 June 1952 7 February 1961
Israel 1 Israel Pound 1952 Obverse & Reverse.jpg 1 Israeli pound (I£1) 150 × 75 mm Green-pink
Israel 5 Israel Pound 1952 Obverse & Reverse.jpg 5 Israeli pounds (I£5) 155 × 80 mm Red-brown
Israel 10 Israel Pound 1952 Obverse & Reverse.jpg 10 Israeli pounds (I£10) 155 × 80 mm Gray-pink
Israel 50 Israel Pound 1952 Obverse & Reverse.jpg 50 Israeli pounds (I£10) 160 × 85 mm Brown-green

First Series of the Pound (1955)[edit]

Image Value Dimensions Main Colour Description Date of
Observe Reverse Watermark issue ceased to be legal tender
Israel 500 Pruta 1955 Obverse & Reverse.jpg 500 pruta (I£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
Israel Lira 1955 Obverse & Reverse.jpg 1 Israeli pound (I£1) 135 × 72 mm Blue View of the Upper Galilee. Menorah with an imprint of anemones. 27 October 1955
Israel 5 Lirot 1955 Obverse & Reverse.jpg 5 Israeli pounds (I£5) 140 × 78 mm Brown Negev landscape with a settlement and farm equipment. Menorah with an imprint of irises.
Israel 10 Lirot 1955 Obverse & Reverse.jpg 10 Israeli pounds (I£10) 150 × 82 mm Green View of the Jezreel Valley depicting settlements and cultivated fields. Menorah with an imprint of tulips. 4 August 1955
Israel 50 Lirot 1955 Obverse & Reverse.jpg 50 Israeli pounds (I£50) 160 × 87 mm Blue The road to Jerusalem. Menorah with an imprint of oleander. 19 September 1957

Second Series of the Pound (1959)[edit]

Image Value Dimensions Main Colour Description Date of
Observe Reverse Watermark issue ceased to be legal tender
Israel HalfLira 1958 Obverse & Reverse.jpg 1/2 Israeli pound (I£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
Israel Lira 1958 Obverse & Reverse.jpg 1 Israeli pound (I£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.
Israel 5 Lira 1958 Obverse & Reverse.jpg 5 Israeli pounds (I£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.
Israel 10 Lir 1958 Obverse & Reverse.jpg 10 Israeli pounds (I£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.
Israel 50 Lira 1958 Obverse & Reverse.jpg 50 Israeli pounds (I£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 of the Pound (1970)[edit]

Image Value Dimensions Main Colour Description Date of
Observe Reverse Watermark issue ceased to be legal tender
Israel 5 Sheqalim 1968 Obverse & Reverse.jpg 5 Israeli pounds (I£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
Israel 10 Lirot 1968 Obverse & Reverse.jpg 10 Israeli pounds (I£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
Israel 50 Lirot 1968 Obverse & Reverse.jpg 50 Israeli pounds (I£50) 170 × 84 mm Brown-red Portrait of Chaim Weizmann. The Knesset Building in Jerusalem. Profile of Chaim Weizmann. 13 January 1972
Israel 100Lirot 1968 Obverse & Reverse.jpg 100 Israeli pounds (I£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 of the Pound (1975)[edit]

Image Value Dimensions Main Colour Description Date of
Observe Reverse Watermark issue ceased to be legal tender
Israel 5 Lirot 1973 Obverse & Reverse.jpg 5 Israeli pounds (I£5) 128 × 76 mm Brown Portrait of Henrietta Szold; Hadassah Hospital on Mt. Scopus in Jerusalem. Lion's Gate in the Old City of Jerusalem. Profile of Henrietta Szold. 11 March 1976 31 March 1984
Israel 10 Lirot 1973 Obverse & Reverse.jpg 10 Israeli pounds (I£10) 135 × 76 mm Pink-purple Portrait of Moshe Montefiori; the Mishkanot Shaananim quarter in Jerusalem with the windmill. Jaffa Gate in the Old City of Jerusalem. Profile of Moshe Montefiori. 30 January 1975
Israel 50 Lirot 1975 Obverse & Reverse.jpg 50 Israeli pounds (I£50) 141 × 76 mm Green Portrait of Chaim Weizmann; the Wix Library at the Weizmann Institute of Science. Damascus gate in the Old City of Jerusalem. Profile of Chaim Weizmann. 26 January 1978
Israel 100Lirot 1973 Obverse & Reverse.jpg 100 Israeli pounds (I£100) 147 × 71 mm Blue Portrait of Theodor Herzl; the entrance gate to Mt. Herzl in Jerusalem. Zion Gate in the Old City of Jerusalem. Profile of Theodor Herzl. 14 March 1975
Israel 500Lirot 1975 Obverse & Reverse.jpg 500 Israeli pounds (I£500) 153 × 76 mm Ivory-brown Portrait of David Ben-Gurion; the library at kibbutz Sde Boker. Golden Gate in the Old City of Jerusalem. Profile of David Ben-Gurion. 26 May 1977

Features for the blind[edit]

In the third banknote issue, released between 1973 and 1975, a feature was added to assist vision-impaired and blind people in identifying the denomination of a note. A tactile set of dots was used, with three on the five pound note, two on the 10 pound note, one on the 50 pound note, none on the 100 pound note, and a large bar the length of three dots on the 500 pound note.[citation needed]

See also[edit]

References[edit]

Footnotes[edit]

[4] [5] [6]

  1. ^ One Palestine Pound, IL: Bank of Israel, archived from the original on April 27, 2006 
  2. ^ One Israeli Pound, IL: Bank of Israel, archived from the original on 2007-09-27 
  3. ^ First Series of the Pound, IL: Bank Le-Israel, archived from the original on 2007-09-27 
  4. ^ One Palestine Pound, IL: Bank of Israel - Anglo Palestine Bank Series
  5. ^ One Israeli Pound, IL: Bank of Israel - Le-Israel Series
  6. ^ First Series of the Pound, IL: Bank of Israel - First Series of the Pound

External links[edit]