1 Israeli Shekel Old Banknote (1978 To 1984 Issue)

1 Sheqel Sheqel (Issued 1978)

The Bank of Israel, established in 1954 as the central bank of the State of Israel, holds sole authority over the issue of legal tender and the management of the country’s monetary policy. By the late 1970s, Israel was experiencing significant inflationary pressures, and the Bank of Israel issued this 1 Sheqel note in 1978 as part of a currency series that would ultimately lead to the formal Sheqel Reform of 1980, which replaced the Israeli Pound. The institution’s Hebrew name, “בנק ישראל,” appears prominently on this note, affirming its central role in stabilising and defining Israeli financial identity during a turbulent economic period.

On the front, the note is dominated by a finely engraved intaglio portrait of Sir Moses Montefiore, the renowned British-Jewish philanthropist and one of the most celebrated Jewish figures of the nineteenth century, who dedicated much of his life to improving conditions for Jewish communities worldwide and made numerous journeys to the Land of Israel. The portrait renders him in considerable detail, showing an elderly gentleman with a full white beard, wearing a dark brimmed hat and a fur-collared coat, with a dignified and composed expression. The engraving is executed in deep purple-violet tones against a pale lilac and soft pink background, giving the note a delicate but authoritative appearance. To the right of the portrait, a small but clearly detailed vignette of a windmill is visible — this is the Montefiore Windmill, the famous landmark built under Montefiore’s patronage in the Mishkenot Sha’ananim neighbourhood of Jerusalem, providing a direct visual link between the portrait and his legacy in the region. Behind the portrait, a low horizontal band of architectural stonework — suggestive of a fortified wall or historic building facade — reinforces the historical character of the design. In the upper portion of the note, the denomination is displayed prominently in Hebrew as “שקל אחד” (one sheqel), with the numeral “1” appearing in the upper left and upper right corners. The issuing authority’s name, “בנק ישראל” (Bank of Israel), is printed in bold Hebrew lettering across the lower centre. The date “1978” appears in both Western numerals and the Hebrew year “התשל״ח” at the lower centre. Two facsimile signatures of Bank of Israel officials appear at the lower left — one for the Governor and one for a senior representative — each accompanied by small printed titles in Hebrew. Two small ornamental ink-pad security blocks are visible to the lower left of the signatures, rendered in deep purple, serving as additional anti-counterfeiting elements.

The reverse of the note presents a striking architectural engraving of the Tower of David, the ancient citadel located near the Jaffa Gate in the Old City of Jerusalem. The structure is depicted in meticulous intaglio detail, showing the arched stone gateway at the base, the robust cylindrical tower rising behind it, and the crenellated walls extending to the right, with a slender minaret visible in the far right background. The engraving captures the texture of the ancient stonework with considerable precision, rendered throughout in the same purple-violet palette as the front. The serial number “2506743945” appears twice — once to the left of the central architectural vignette and once to the lower right — printed in upright numerals in a slightly darker tone. At the top of the reverse, the issuing authority is identified in both Hebrew, “בנק ישראל,” and in Arabic, “بنك إسرائيل,” reflecting the multilingual character of Israeli banknote design. The English inscription “BANK OF ISRAEL” appears in capital lettering along the lower centre of the note. The numeral “1” appears in the upper right corner. A faint vertical band to the far right of the reverse, slightly lighter in tone, may indicate the presence of a security thread embedded within the paper. The overall background of the reverse carries a fine guilloché pattern in pale lilac and pink, consistent with the front face, lending the note visual coherence and a degree of protection against reproduction.

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• Indicate the quantity of 1 Sheqel Sheqel banknotes you want to exchange
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Other Israeli Old Sheqalim you can exchange: 5, 10, 50, 100, 500, 1000, 5000, 10000.