50 lirot 1978
Market Prices
100 salesAbout This Note
This is an uncirculated 1978 Bank of Israel 50 lirot note (Pick P-46a) featuring a striking portrait of David Ben-Gurion in profile on the obverse, set against a landscape backdrop of the Sde Boker kibbutz library. The reverse depicts the Golden Gate (Gate of Mercy) in Jerusalem in fine architectural detail. The note exhibits pristine condition with no signs of circulation, crisp paper, and excellent color registration in its characteristic beige, tan, and black palette.
Common. This note is widely available in the secondary market with consistent supply evidenced by frequent eBay sales across all condition grades. Recent market data shows UNC examples selling for $2-$4 USD, and even PMG-graded higher-end specimens (PMG 67-68) typically ranging from $20-$30 except for outlier sales. The print run was substantial and circulation was extensive, making this a standard issue rather than scarce or rare.
Issued in 1978 (Hebrew year 5738), this note commemorates David Ben-Gurion, Israel's founding Prime Minister and first head of government, reflecting his continued prominence in Israeli national identity during the post-1967 era. The Sde Boker kibbutz depicted in the background represents Ben-Gurion's retirement to the Negev desert and his legacy of pioneering settlement, while the Golden Gate on the reverse symbolizes Jerusalem's historical and religious significance to the State of Israel.
The obverse features a left-facing profile portrait of David Ben-Gurion, Israel's founding Prime Minister, rendered in fine detail with his characteristic white hair and formal attire clearly visible. The background landscape depicts rolling hills and the Sde Boker kibbutz settlement, representing Ben-Gurion's connection to the Negev desert and pioneering ideology. The reverse showcases the Golden Gate (also known as the Gate of Mercy/Sha'ar HaRachamim) of Jerusalem's Old City walls, depicted as an impressive crenellated stone fortification with characteristic medieval/ancient architectural style including arched gateways and stone block construction. Both sides employ wavy line security patterns and fine guilloche work throughout. The note incorporates tactile security features including marks for the blind on the obverse.
Front: 'חמישים שקל' (Fifty sheqel), 'בנק ישראל' (Bank of Israel), 'התשלח 1978' (1978), with denomination '50' in Arabic numerals at top left and right corners, and signatures/approval marks. Back: 'בנק ישראל' (Bank of Israel), 'BANK OF ISRAEL' (English), denomination '50' in Arabic numerals, and serial number '547020323' printed in two locations.
Intaglio engraving combined with offset lithography, characteristic of Bank of Israel currency production. The fine line work, guilloche patterns, and sharp portrait details indicate professional security printing. The P-46a variety is noted as having no bars under the serial number, distinguishing it from later variants (P-46b, P-46c, P-46d) produced by printer JEZ.
This is identified as Pick P-46a, the 'No Bars Under S/N' variety, distinguishing it from subsequent variants P-46b, P-46c, and P-46d, all produced by printer JEZ with small bars below the serial number. The serial number '547020323' visible on the reverse confirms the printing characteristics of this specific variety. The 1978/5738 dual dating and absence of additional security elements confirms the standard P-46a classification.
