1 pound 1979
Market Prices
24 salesAbout This Note
This is a PMG 67 EPQ (Superb Gem Uncirculated) example of Cyprus's 1 pound note from 1979, featuring a striking dual portrait of a man and woman (depicting the nymph Acme) rendered in brown and multicolored tones on the obverse. The reverse displays a detailed intaglio engraving of Bellapais Abbey's Gothic arches, rendered in black on cream stock. This note represents an exceptionally well-preserved example of Cyprus's first post-independence currency design, with sharp detail throughout and no visible wear, making it highly desirable to collectors of Eastern Mediterranean numismatics.
Common. This is a regular issue from the Central Bank of Cyprus with substantial circulation numbers. eBay market data shows consistent sales activity across multiple condition grades from 2009 to 2024, with PMG 66 examples selling in the $19-$39 range and circulated examples selling for $1-$5. The 2019 catalog value of $75 for UNC represents a nominal premium over typical market realizations. The existence of catalog variety (P-46 and P-46s) suggests multiple printings. No evidence of short print runs, recalls, or rarity. This PMG 67 EPQ example commands modest premiums over lower grades due to its exceptional condition rather than inherent scarcity.
Issued on June 1, 1979, this note marks a significant period in Cypriot monetary history, as the Central Bank of Cyprus began circulating currency following the country's transition and economic stabilization. The obverse features Acme, a nymph from classical Greek mythology, reflecting Cyprus's deep cultural ties to ancient Greek civilization, while the reverse depicts Bellapais Abbey, a magnificent Gothic structure built during the Lusignan period (13th-15th centuries), symbolizing the island's layered historical heritage spanning Byzantine, Crusader, and Ottoman periods. The trilingual inscriptions in Greek, Turkish, and English reflect Cyprus's complex post-1974 political composition and the Central Bank's commitment to acknowledging the island's diverse communities.
The obverse presents a classical dual portrait of Acme (a nymph from Greek mythology) depicted as two figures—a curly-haired man on the left and a curly-haired woman on the right—positioned in the center-right area of the note. The design incorporates ornate Renaissance-style scrollwork and floral patterns in all four corners, with the coat of arms of Cyprus (featuring an eagle within a circular seal) prominently placed at top center. Pound sterling symbols (£) appear in circular medallions at the corners. The palette employs warm browns, tans, pinks, and beiges. The reverse features a detailed Gothic architectural scene identified as Bellapais Abbey, rendered in black intaglio engraving showing multiple arched openings characteristic of medieval abbey construction, with crenellated towers visible in the background landscape. The printing is executed in fine line work with exceptional detail preservation, consistent with premium intaglio production standards. A watermark incorporating a ram's head serves as the primary security feature, and a radar serial number (A607706) appears as an additional security element.
FRONT SIDE: 'ΚΕΝΤΡΙΚΗ ΤΡΑΠΕΖΑ ΤΗΣ ΚΥΠΡΟΥ' (Greek) = 'Central Bank of Cyprus'; 'KIBRIS MERKEZ BANKASI' (Turkish) = 'Central Bank of Cyprus'; 'MIA AIPA BIR LIRA' (Greek and Turkish) = 'One Pound'; Serial number 'A607706' appears in two locations; '1.G.1979' = Issue date 1 June 1979. BACK SIDE: 'CENTRAL BANK OF CYPRUS' (English); 'ONE POUND' (English). The note features bilingual and trilingual text reflecting Cyprus's official languages and historical divisions.
Intaglio engraving (line engraving/steel plate engraving), characteristic of high-security banknote production. The printer is identified as TDLR (Thomas De La Rue) based on catalog data, though no printer imprint appears on the note itself—a deliberate security practice. The sharp detail reproduction of fine lines, the dimensional quality of the portrait work, and the precise rendering of the architectural elements on the reverse are all hallmarks of professional intaglio engraving. The multicolored underprint on the obverse required multiple color passes during the printing process.
This note is cataloged as Pick 46 (P-46), with a known variant P-46s also recorded by PMG. Both variants were printed by TDLR without a printer's imprint. The observed serial number 'A607706' appears to be a non-special variety example. The date '1.G.1979' (1 June 1979) matches the official issue date for this type. The 'A' prefix on the serial number is consistent with standard Central Bank of Cyprus numbering practices. No radar number variants, overprints, or error notes are evident in this specimen. The PMG population report confirms these are the only two cataloged variants for this Pick number.
