Paper Money

IBNS Journal article offers insights about 1955 1-lira

The history of the Series 1955 Israeli 1-lira bank note is detailed in the most recent IBNS Journal, the quarterly publication of the International Bank Note Society.

Once the nation of Israel was established as a sovereign nation in 1948, discussions began about organizing a central bank, according to Shlomo Tepper. However, circumstances delayed the discussion phase from developing into a reality, so in the meantime the nation signed a contract with the Anglo-Palestine Bank to issue bank notes. That contractual arrangement continued until 1950, when the Israel government incorporated Bank Leumi Le-Israel (National Bank of Israel), which took over the job of creating the second series of notes in 1952, according to Tepper.

“The Israel government finally created the Bank of Israel in 1954, and this institution issued its first series of banknotes, Israel’s third series, in 1955,” Tepper writes. “The one Israeli lira features a view from the Upper Galilee, showing a flowing river. They also included a view of the Jordan [River] in the vicinity of Kibbutz Sde-Nehemia.”

According to Tepper, the kibbutz “was established in 1940 by immigrants from the Netherlands, Austria, Czechoslovakia and North Africa. Its first name was Huliot, later changed to Sde-Nehemia, to honor Nehemia de Lieme, a Zionist leader in the Netherlands.”

Also in the same issue of the journal, John E. Sandrock writes about John Law’s Banque Royale and the Mississippi Bubble. Musham Damodhar Rao writes about India’s Bank of Salem and its “free” 1-rupee note for the poor. John Cowlin contributes an article about the soup and meat tickets from the Siege of Kimberley in the Great Boer War. Dmitriy Litvak and Alexander Kuznetsov continue the story of the paper money of the Soviet era. Alan M. Cole offers a tribute to Viktor Marcilger and Don Cleveland writes about three kings on paper money.

Also in this issue, Milt Blackburn comments on a classic note and Simon Sui writes about a commemorative note marking 70 years of the Shanghai Banknote Printing Co. Peter Symes offers a story about the warrants of Alexander Humphrys and his bid to claim North America. N.A. Shneydo writes about the 2½ value and scales of denominations on bank notes. Dave Mills offers clues about solving a mirco-puzzle on some modern French bank notes. John E. Sandrock offers information about a unique note from China’s past and Herbert A. Platt writes about the continuing development of paper money.

In addition to these stories, the journal includes membership news from chapters around the world and information about new issues of world notes.

For information about the society, email IBNS U.S. membership secretary Roger Urce at, write him at Box 289, Saint James, NY 11780-0289, or visit the IBNS website at ¦

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