1 pound 1955

common. While this is a historically significant first-issue banknote from an emerging nation's currency system, the 1955 Cyprus pound remains common in the numismatic market. The eBay sales data shows regular transaction volume across multiple condition grades (F to UNC) with consistent pricing, indicating adequate supply. VF examples have sold between $157-$296 over the past five years, suggesting established collector demand but not scarcity. The catalog value of $100 for VF and the regular appearance of this note in auction records further confirm its common status. Most early Commonwealth currency from this period, unless from exceptionally short print runs or recalled issues, remains readily available to collectors.

This 1955 pound note commemorates Cyprus's establishment of its independent currency system under British governance, issued by the Government of Cyprus (pre-independence). The inclusion of Queen Elizabeth II's portrait reflects Cyprus's constitutional status at the time, while the heraldic lion and government seal on the reverse underscore the authority's sovereignty over currency issuance. The dual English and Greek inscriptions reflect the island's bicommunal character during this period of British administration, shortly before Cyprus's path toward independence in 1960.

The obverse features Queen Elizabeth II depicted in right-facing profile within an ornate circular frame, rendered in the formal style typical of Commonwealth currency of the 1950s. The portrait exhibits the characteristic coiffure and jeweled earrings of the monarch during this era. A detailed map of the island of Cyprus appears in the lower right corner, providing geographic context. The reverse displays symmetrical heraldic design elements: a rampant lion (representing the arms of Cyprus) within a laurel wreath on the right side, and the numeral '1' within a matching circular wreath on the left. All design elements are framed by ornamental borders featuring geometric patterns and fine-line guilloche work typical of security printing. The color palette of brown, pink, mauve, and cream creates a distinguished, formally composed appearance.

FRONT: 'ISSUED BY THE GOVERNMENT OF CYPRUS' (English); 'ONE POUND' (English); 'ΜΙΑ ΛΙΡΑ' / 'BIR LIRA' (Greek, meaning 'ONE POUND'); '1st JUNE 1955' (English, issue date); 'COMMISSIONER OF CURRENCY' (English, issuing authority); Serial number 'A 030465' (English); '£1' (currency denomination). BACK: 'GOVERNMENT OF CYPRUS' (English); '1' (denomination numeral). The dual-language format reflects the English and Greek-speaking populations of Cyprus.

This note employs classical intaglio (engraved) printing, evidenced by the crisp, fine-line security details visible in the guilloche patterns, the portrait's precise facial features, and the complex background security printing throughout. The multi-color printing (brown, pink, mauve, cream) was achieved through sequential color plate application, a standard technique for currency of this era. The exceptional clarity of the wreath borders, numerals, and decorative elements confirms the use of high-security engraved plates. The printer for Cyprus Government notes of this period was typically Thomas De La Rue & Company, though specific attribution for this Pick number would require further documentation.

This example appears to be a P-35a variant (Eagle's Head watermark), based on catalog records indicating watermark varieties exist for this Pick number. The serial number prefix 'A 030465' suggests this falls within standard production runs. According to PMG population records, three main variants have been professionally graded: P-35a (Eagle's Head watermark), P-35cts, and P-35s (Eagle's Head watermark). Specific signature varieties are noted in catalog references but are not definitively identifiable from the images provided. The issue date of 1st June 1955 corresponds to the initial release period, placing this note within the earliest production run of this denomination.