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1 pound 1950

Europe › Cyprus
P-241950Government of CyprusVF
1 pound 1950 from Cyprus, P-24 (1950) — image 1
1 pound 1950 from Cyprus, P-24 (1950) — image 2

Market Prices

3 sales
Catalogue (2016)
VG$25
VF$100
UNC$400
VF$2052020-07-05(3 bids)
EF$3052015-09-06(43 bids)
VG$123.452015-06-26(50 bids)

About This Note

This is a Government of Cyprus 1 pound note dated 15th June 1950, printed by Thomas de la Rue and graded VF (Very Fine). The note features a portrait of King George VI in an ornate oval frame with decorative floral scrollwork on the obverse, rendered in brown/russet and green colors. The reverse displays a heraldic seal with two lions and minimal design elements. Despite its age and visible creasing throughout, the note retains good detail in the engraved portrait and border work, making it a desirable example of early post-war Cyprus currency.

Rarity

Common. The eBay price tracking data provided shows consistent sales in the VF grade at moderate prices ($100-$205 range in recent transactions), and catalog values for 2016 list VF at $100, which is typical for commonly encountered mid-20th century Commonwealth banknotes. The note was part of a regular issue with a long circulation period (1937-1951), suggesting substantial print quantities. No evidence of limited print runs, early recalls, or scarcity factors.

Historical Context

This note was issued during Cyprus's period as a British Crown Colony, when the island's currency remained closely tied to British monetary systems. The prominent portrait of King George VI reflects Cyprus's status within the British Commonwealth at the time, while the trilingual inscriptions in English, Greek, and Arabic acknowledge the diverse linguistic communities of the island. The 1950 date places this note in the early post-World War II period, before Cyprus achieved independence in 1960.

Design

The obverse features a formal right-facing profile portrait of King George VI, the reigning British monarch, positioned in an elaborate oval frame with ornamental flourishes including scrollwork and floral motifs. The portrait is rendered using fine engraving techniques with detailed cross-hatching. The design incorporates a decorative geometric border around the entire perimeter of the note. Denomination and issuing authority information are arranged symmetrically around the portrait. The reverse displays a circular heraldic seal featuring two lions passant guardant facing each other within a double circular border, positioned in the upper left area, with the issuing authority name prominently displayed in the center on an otherwise blank field. The color scheme throughout is predominantly brown/russet with green underprinting and cream background.

Inscriptions

OBVERSE: 'ONE POUND' (English denomination); 'MIA AIPA' (Greek for 'One pound'); 'بر لیرا' (Arabic for 'One pound'); 'ISSUED BY THE GOVERNMENT OF CYPRUS' (English issuing authority); '15th June 1950' (English date of issue); 'COMMISSIONER OF CURRENCY' (English title); '£1' (English pound symbol); 'THOS DE LA RUE & CO LTD, LONDON' (English printer identification); Serial number 'G 115742' (top left and bottom right); Signature or initials 's.m.litt'. REVERSE: 'GOVERNMENT OF CYPRUS' (English text center); 'SAFETY' (faint security text/watermark).

Printing Technique

Intaglio engraving (recess printing), as evidenced by the fine line work, cross-hatching, and sharp detail visible in the portrait, decorative elements, and border work. The note was printed by Thomas de la Rue & Co Ltd, London, one of the world's premier security printers. The security features include intricate engraved decorative patterns that would be difficult to counterfeit using contemporary technology.

Varieties

This specific example is dated 15th June 1950 with serial number G 115742 and bears a signature or initials 's.m.litt'. The Pick catalog notes signature varieties exist for this issue. The G-prefix serial number is consistent with standard issue examples. No evidence of overprints or commemorative modifications. This represents a standard regular-issue variety within the P-24 classification.