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Auction: 391 - World Banknotes at NY INC
Lot: 425

Palestine Currency Board, £1, Jerusalem, 20th April 1939, serial number T374725,
the establishment of the Palestine Currency Board in London on 15th June 1926, marked a significant milestone with the passage of the Palestine Currency Order of His Majesty in council on 7th February 1927. This order proclaimed the Palestine Pound as legal tender, equivalent in value to the British Pound, and it was subdivided into 1,000 Mils.
The introduction of banknotes by the Palestine Currency Board into circulation on 1st November 1927, was a noteworthy development. These banknotes stood out for featuring text in the three official languages of Palestine: Arabic, English, and Hebrew, reflecting an effort to acknowledge and represent the diverse linguistic landscape of the region.
A remarkable illustration of the banknotes issued by the Palestine Currency Board is this £1 note, printed in Jerusalem on 20th April 1939, with the serial number T374725 and it´s graded by PMG as 30 Very Fine.
Preceding the adoption of the Palestine Pound, Egyptian notes served as legal tender in Palestine until 31st March 1928. Moreover, British Treasury £1 notes and Bank of England £5 notes were acknowledged as legal tender in areas of Palestine that had been under British occupation since 1918.
The issuance of banknotes by the Palestine Currency Board played a pivotal role in consolidating the currency system in Palestine, offering a stable medium of exchange. This historical development, coupled with the subsequent circulation of notes in multiple languages and the distinctive details associated with individual notes, mirrors the intricate socio-linguistic and historical fabric of the region during the mandate period
(Pick 7c, BNB 102c), in PMG holder 30 Very Fine

Sold for
£850

Starting price
£400