500 mils 1979

Common. Despite its age (1979) and the transitional political context of Cyprus, this note remains common in the market. eBay price tracking data shows consistent sales of uncirculated examples ranging from $9.99 to $79 over the past 14 years, with most UNC examples selling in the $15–$55 range. PMG-graded examples (typically 64–67 range) command prices of $30–$105, reflecting typical premiums for professional grading rather than scarcity. The 2019 catalog valuation of $150 for UNC appears inflated relative to actual market realization. Large print runs during the 1964–1979 series period and continued availability in collector channels support a common classification.

Issued during Cyprus's early post-independence period (this design series began in 1964 and continued through 1979), this banknote reflects the nation's identity through its prominent display of the national emblem and iconic mountain landscapes. The trilingual text—Greek, Turkish, and English—reflects Cyprus's complex political and cultural position following the 1974 division of the island. The mountainous landscape on the reverse, featuring the characteristic Pentedaktylos range visible from the northern coast, served as a symbol of national identity and territorial heritage during this transitional era.

The obverse features the coat of arms of the Republic of Cyprus—a dove carrying an olive branch over a shield with a citrus fruit—centered on the note with ornamental geometric border patterns in green. To the left is a decorative shell or scallop rosette design, providing classical numismatic ornamentation. The reverse displays an intaglio-engraved landscape scene of the Pentedaktylos mountains (also known as Kyrenia Range), depicted with a river or mountain road running through a forested valley lined with tall coniferous trees, with snow-capped peaks visible in the distance. This landscape is rendered entirely in green engraving against a cream background. The denomination '500' appears prominently in the upper corners of the obverse. All text appears in both Greek and Turkish scripts, reflecting the official bilingual status of the Central Bank of Cyprus during this period.

FRONT: '500' (numeric denomination); 'ΚΕΝΤΡΙΚΗ ΤΡΑΠΕΖΑ ΚΥΠΡΟΥ / MERKEZ BANKASI' (Central Bank of Cyprus, in Greek and Turkish); 'ΤΗΣ ΚΥΠΡΟΥ' (of Cyprus, in Greek); 'ΠΕΝΤΑΚΟΣΙΑ ΜΙΑ / BES YUZ MIL' (Five Hundred Mils, in Greek and Turkish); '1. 6. 1979' (June 1, 1979); Serial number: '42230958'; 'Χρ. Τ. Αζεράκης' (Chr. T. Aserakis, signature of Governor); 'ΔΙΟΙΚΗΤΗΣ-MÜDÜR' (Director/Governor, in Greek and Turkish); '1960' (reference year, possibly founding year of note design). BACK: 'Central Bank of Cyprus' and 'Five Hundred Mils' (both in English).

Intaglio (engraved) printing on banknote paper, characteristic of professional security printing. The fine line work visible in both the ornamental borders and the detailed landscape engraving on the reverse, combined with the crisp color registration and precise geometric patterns, confirms high-quality intaglio production. Printed by BWC (Bradbury Wilkinson and Company or similar British security printer), as indicated in the catalog data. The multi-color effect is achieved through layered intaglio printing with separate plates for each color (green dominant, with orange, blue, and purple accent colors visible in the coat of arms).

This note is identified as Pick 42c (P-42c), distinguishing it from P-42b and P-42s variants, all printed by BWC. The specific date of June 1, 1979 ('1.6.79') and the signature of Chr. T. Aserakis as Governor (ΔΙΟΙΚΗΤΗΣ) identify this as a late-series printing. The serial number '42230958' shows no obvious prefix variations that would indicate a distinct variety, though serial number ranges may distinguish subsequent printings. The visual consistency with catalog descriptions for P-42c (green on multicolored underprint, arms at right, map at lower right on obverse; mountain road on reverse) confirms proper attribution to this variety.