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Auction: 391 - World Banknotes at NY INC
Lot: 428

Palestine Currency Board, £5, Jerusalem, 20th April 1939, serial number C421953,
the establishment of the Palestine Currency Board in London on 15th June 1926, marked a significant moment with the enactment of the Palestine Currency Order of His Majesty in council on 7th February 1927. This decree declared the Palestine Pound as legal tender, equivalent in value to the British Pound, and it was divided into 1,000 Mils.
On 1st November 1927, the Palestine Currency Board introduced banknotes into circulation, featuring text in the three official languages of Palestine: Arabic, English, and Hebrew, in an effort to recognise the diverse linguistic landscape of the region.
A beautiful example of the banknotes issued by the Palestine Currency Board is this £5 note, printed in Jerusalem on 20th April 1939, with the serial number C421953. This particular note has been graded as 30 Very Fine by PMG.
Before the adoption of the Palestine pound, Egyptian notes served as legal tender in Palestine until 31st March 1928. Additionally, British Treasury £1 notes and Bank of England £5 notes were recognised as legal tender in areas of Palestine occupied by the British since 1918.
The issuance of banknotes by the Palestine Currency Board played a crucial role in unifying the currency system in Palestine, providing a stable medium of exchange. This historical development, along with the subsequent circulation of notes in multiple languages and the unique details associated with individual notes, reflects the complex socio-linguistic and historical fabric of the region during the mandate period
(Pick 8c, BNB 103c), in PMG holder 30 Very Fine, stained

Sold for
£2,100

Starting price
£2100