10 TEN OLD ISRAELI SEHEKELS HERZL SPECIAL EDITION ISRAEL HOLYLAND COIN SILVER

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10 TEN OLD ISRAELI SEHEKELS HERZL SPECIAL EDITION ISRAEL HOLYLAND COIN SILVER:
$1.60

speciallimitededition!TEN OLD ISRAELI SEHEKELS COIN 1983-1984 (התשמ\"ד)

With a picture of Herzl. A must for every collection.

Development of a new currency to be known as the Shekel (properly,Sheqel) was approved by theIsraeliKnesseton 4 June 1969. The governors of theBank of Israeldid not consider the time ripe until November 1977, when studies for its implementation began.Prime MinisterMenachem BeginandMinister of FinanceSimcha Erlichapproved a proposal toredenominatetheIsraeli poundin May 1978; the proposal called for the currency to be exactly similar except for the removal of a zero from the inflated pound and agorot denominations.[1]

The Shekel and New Agora were declaredlegal tenderon 22 February 1980 and went into circulation two days later. Initial denominations were IS1, 5, 10, and 50, but over the next five years inflation led to another five: IS100, 500, 1000, 5000, and 10 000.New coin and bill designs were selected through competitions among graphic designers.Beginning with the IS500 issue, the size of the notes was standardized (76mm ×138mm or 3in ×5in) and the denominations differentiated by color and design. A transparent part was added to discouragecounterfeitingand elements for the blind were added.TheNew Israeli Shekelreplacedthe shekel following itshyperinflationand the enactment of theeconomic stabilization plan of 1985which brought inflation under control. It became the currency of Israel on 4 September 1985, removing three zeros from the old notes.

Presently, the old Shekel is no longer in circulation and is not regarded as legal tender by the Bank of Israel.

The initial series of coins in 1980 were for the denominations of 1, 5, and 10 New Agorot andIS ½. These preserved the appearance of the similar coins under the pound but were worth 10 times as much. The initial run were struck at foreign mints in order to preserve the secrecy of the coming currency conversion.IS 1coins were introduced in 1981;IS 5and 10 coins in 1982; andis 50and 100 coins in 1984.

The 1 and 5 New Agorot coins werealuminum; the 10 New Agorot andIS ½, 1, and 100 coinscupronickel; theIS 5and 50 coins an alloy of copper, aluminum, and nickel; and theIS 10cupro-aluminum.

One coin in the package