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Auction: 403 - World Banknotes at NY INC
Lot: 390

Banque de Syrie et du Liban, Lebanon, 50 Livres, 1939, serial number Q.19 094,
dated 1939 (introduced 18.06.1941) and issued by the Banque de Syrie et du Liban (BSL), this 50 Livres banknote reflects a critical juncture in Lebanon’s financial and political landscape. Established under a new mandate on 31st March 1939, the BSL emerged as a stabilising force in the region, succeeding the earlier Banque de Syrie et du Grand-Liban (BSGL). Beginning operations on 1st April 1939, the BSL quickly positioned itself as a cornerstone in Lebanon’s economic framework, supporting the nation through complex social, political, and economic transitions under French colonial rule.

At this time, Lebanon was a rich tapestry of diverse religious and ethnic communities—Christians, Muslims, Druze—each contributing to a multifaceted cultural identity. As the 1930s progressed, Lebanon faced growing political unrest and a rising desire for autonomy, with movements like the Lebanese National Movement advocating for national identity and independence. Beirut became a vibrant urban centre, where traditional values met modern aspirations, embodying the nation’s vision of progress amidst colonial constraints.

Amid this sociopolitical transformation, the region’s geopolitics also intensified with the looming pressures of World War II. In 1937, the BSL received a renewed 25-year authority to issue a distinct Lebanese pound, albeit one still tied to the French Franc, though it circulated interchangeably with the Syrian Pound. This continued until 1941, when, following the Allied forces’ entry into Lebanon, the Lebanese Pound was linked to the British Pound Sterling, symbolising a shift in political influence. By 1948, Lebanon concluded a monetary agreement with France that formally severed the Lebanese Pound’s dependence on the French Franc, setting the stage for true economic independence.

This note, therefore, encapsulates Lebanon’s resilience during a transformative era, mirroring its aspirations for stability and self-determination. It remains a testament to Lebanon’s journey towards sovereignty, standing as both a historical artefact and a symbol of a nation’s enduring spirit,

(Pick 19, BNB 205), in PMG holder 25 Very Fine, cancelled with 'billet specimen' overprint and punch cancelled with star design, tears, only 1 note in higher grade on PMG Census

Estimate
$15,000 to $20,000

Starting price
$15000