Chapter 1

MONETARY BACKGROUND

          The numismatic history of Palestine dates back to the fourth century B.C.E., with the minting of the first coins, issued in Persian-dominated Judea, known as the province of Yahad.

The history of paper money in Palestine began some 2300 years after the minting of these first coins, during the WWI, with the local and unofficial issue of paper tokens and cheques. Although these notes were not actual banknotes, they are a cornerstone in the numismatic history of Palestine.

APC cheques for payment at set denominations of 20 francs of the first and second series and that of the Safed branch series.
 

Tel Aviv Committee paper payment tokens of one franc (right) and one beslik (left).
 

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