Five Hundred Mils, Palestine Currency Board

BRITISH MANDATE BANKNOTE SERIES

Britain conquered the Land of Israel, Palestine as it was then called, from the Ottoman authorities, in 1917, and British military rule over the Land began. In 1926, the British Mandate set up the Palestine Currency Board which was to be responsible for the currency policies within the Mandatory boundaries. In 1927, the Board issued banknotes which were to serve as legal tender even after the mandatory period, when the State of Israel was established. In respect of all three religions in the country, the banknotes were decorated with symbols and sites of significance to the Jews, Christians and Moslems – the Tomb of Rachel, Dome of the Rock and White Tower in the city of Ramla. The reverse of the note was graced with a picture of the "Tower of David", a symbol of Jerusalem for all three religions. The notes remained in circulation until August 18, 1948, when they were exchanged for the Anglo-Palestine Bank currency.

Size:192 X 101 mm.
Front: Guilloches; the denomination in Hebrew, English, and Arabic; illustration of the Crusader's Tower in Ramle
Back: Guilloches; the denomination in Hebrew, English, and Arabic; illustration of the Tower of David
First issue: November 1, 1927
In circulation until: August 18, 1948
Ceased to be legal tender: September 18, 1948