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| 正面描述 | The face of the note is dominated by intricate guilloche patterns forming a decorative underprint across the entire field. The denomination "1" appears at left and right, with the issuing bank's name, "The Anglo-Palestine Bank Limited," rendered in Hebrew and English. Bilingual payment obligations and legal tender clauses are inscribed in Hebrew and English across the note. |
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| 背面铭文 | ١ البنك الانجلو فلسطينى المحدود THE ANGLO-PALESTINE BANK LIMITED LEGAL TENDER FOR PAYMENT OF ANY AMOUNT THE ANGLO-PALESTINE BANK LIMITED WILL PAY TO THE BEARER ONE PALESTINE POUND TEL-AVIV THE BANK WILL ACCEPT THIS NOTE FOR PAYMENT IN ANY ACCOUNT |
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The Anglo-Palestine Bank issued this note under a peculiar legal fiction: it was a commercial bank, not a central bank, yet it functioned as the sole currency authority for the new State of Israel from May 1948 until the Bank of Israel was established in 1954. The Palestine Pound designation was retained even after the state declared independence, purely to maintain monetary continuity during a period when establishing a sovereign currency would have created immediate economic disruption.
The ABNC printing contract predated independence — plates were commissioned while the outcome of the British Mandate was still uncertain. Notes from this series circulated alongside the Israeli Pound after 1952 at a fixed parity.