Israel. Emergency Anglo Palestine Bank 500 Mils Banknote, 1948. Pick-1a. Wmk: Bank Title. S/N 218444-Unissued. Sylvia Haffner (Israel's Modern Money and Medals) describes how "The new [Israel] notes were printed in the United States … [and] On August 18, 1948, the new [500 Mils] notes were issued. Stored notes could be sent to London and exchanged for Sterling to be used as backing for the Israel notes. The Anglo-Palestine Bank cut the Palestine Currency Board Notes in half When the first halves arrived in London, the second halves were sent. This eliminated the risk in transferring the notes and there was no need for insurance. The cutting of the notes accounts for some of the difficulty in obtaining specimens of the Palestine Currency Board Notes." This is an exceptional example, Very rare and difficult to find. PMG graded Superb Gem Uncirculated 67. Estimated Value $3,000 - UP
The D. Bernard Hoenig Collection.