Israeli Pound
The Israeli pound was born in secrecy and urgency—a currency forged before the state itself, carrying the imprint of an extraordinary beginning.
Quick Facts
Country: Israel
Code: ILP
Symbol: £
System: Decimal (1 Pound = 1000 Prutot / later 100 Agorot)
Status: Withdrawn
Issuer: Bank of Israel
The Story of the Israeli Pound
In 1948, banknotes were secretly printed in the US by ABNC before Israel was officially declared. These early Anglo-Palestine Bank issues omitted the name “Israel” entirely—an intentional ambiguity in a moment of geopolitical uncertainty. Simplified in 1960 from 1000 Prutot to 100 Agorot, the system faced persistent inflation throughout the 1970s, leading to the pound's replacement by the shekel in 1980.
Design & Symbolism
Design draws from “biblical numismatic anchors,” incorporating ancient Hebrew scripts and Bar Kokhba revolt coins. A defining innovation was the 1958 series—one of the world’s earliest vertical banknote formats. Portraits evolved from state leaders like Ben-Gurion to intellectual figures like Albert Einstein, transforming the currency into a cultural archive that connects the modern state to archaeological history.
For collectors
For collectors, the Israeli Pound represents foundational rarity. Early 1948–1952 issues—especially specimen notes—are among the most sought-after in Middle Eastern numismatics. Later high-denomination notes from the 1970s, heavily used during inflationary periods, are extremely difficult to find in Choice UNC condition. This combination of secret origins and rapid evolution makes the Israeli Pound a compelling transitional currency.
The Israeli pound concluded its role in 1980, replaced by the shekel, leaving behind a currency defined by its unique statehood birth.