18 August 1948 – 13 Av 5708
The State of Israel’s first bank-notes were issued by the Anglo Palestine Bank (now Bank Leumi), originally founded as an off-shoot of Theodor Herzl’s Jewish National Fund in 1902. The new notes were printed in America by the American Banknote Company, using blocks originally made for China, as there was no time for a new design – the State of Israel needed its own currency as soon as possible, and three months had already elapsed since the declaration of the state on May 16. The notes were marked: “The Anglo-Palestine Bank Limited will pay to the bearer ten Palestine Pounds;” the name of the country didn’t appear, as it had yet to be decided on when the bank-notes were ordered! The notes appeared in denominations of a half, one, five, ten and fifty Lire and remained in circulation until 1952.