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10 Israel Pounds
| Issuer | Bank Leumi Le-Israel B.M. |
|---|---|
| Year | 1952-1954 |
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| Reference(s) | P#22 |
| Obverse description | The face is dominated by intricate guilloche underprint patterns across the entire field. The denomination and issuer name appear in Hebrew script, reading 'Bank Leumi Le-Israel B.M.' and 'Ten Israel Pounds.' The full legal tender clause is inscribed in Hebrew around the central area of the note. |
|---|---|
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| Reverse description | The reverse mirrors the obverse in overall layout, with elaborate guilloche underprint work filling the field. The issuer name and denomination are rendered in both Arabic script and English, with the full legal tender text present in both languages. The parallel bilingual presentation reflects the multilingual character of the early Israeli state's currency. |
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| Comments |
Bank Leumi Le-Israel B.M. — literally "National Bank of Israel" — was a commercial bank, not a central authority, yet it functioned as Israel's de facto note-issuing institution in the years before the Bank of Israel was established in 1954. These notes were technically private bank obligations, a legally awkward arrangement the new state inherited from the Anglo-Palestine Bank structure and tolerated only as a transitional measure.
The American Bank Note Company contract placed production firmly in New York, a deliberate choice by a government with no domestic printing capacity and limited trust in regional alternatives. At over twelve million printed, this was not a scarce issue in origin — attrition from heavy circulation is what drives scarcity today.