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Auction: 24009 - World Banknotes
Lot: 372

(x) Palestine Currency Board, [TOP POP] specimen 10 Palestine Pounds, Jerusalem, 30th September 1929, serial number A000000, The Palestine Currency Board (PCB) was founded in London on 15th June 1926, during the British Mandate period in Palestine. Its establishment was a crucial step in unifying the currency system in a region that had previously used a variety of foreign currencies, including Egyptian and British notes. The PCB was responsible for issuing and regulating a new currency that would bring economic stability and align the territory's monetary system with British governance.
On 7th February 1927, the Palestine Currency Order in Council was passed, officially declaring the Palestine pound as legal tender, pegged to the British pound sterling and subdivided into 1,000 mils. This new currency replaced the Egyptian pound, which had been used in the region since the British occupation began in 1918. By 31st March 1928, Egyptian currency was phased out, and the Palestine pound became the sole legal tender in Palestine.
Among the most remarkable banknotes issued by the PCB is the 10 Palestine Pounds specimen, dated 30th September 1929, printed in Jerusalem. The specimen note, bearing the serial number A000000, represents an important piece of the currency history of the British Mandate era. Its design, with intricate details and multilingual inscriptions in Arabic, English, and Hebrew, emphasizes the British intent to create a functional and inclusive financial system that catered to the diverse population under its mandate. This multilingual approach also symbolizes the coexistence of different communities within Palestine at the time.
It is plausible that many surviving examples of this and other denominations have been lost to time. Due to its rarity and without great surprise, PMG Census has this note registered as the only graded specimen for this date. Incredible note with an early date, highly significant and rare!
(Pick 9bs, BNB 104bs), in PMG holder 58 Choice About Uncirculated, printer's annotations, previously mounted, minor rust, sole example of this type graded on PMG Census

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Sold for
£14,000