1 livre 1939

Common. This note was part of the regular issue series of the Banque de Syrie et du Liban and had substantial circulation in the Levantine territories during the mandatory period. eBay historical pricing data shows specimens in VG condition selling for $4.95 to $61 across multiple years (2013–2015), with catalog values at $7.50 for G and $25 for F grades, confirming this is a frequently encountered note in the secondary market. Pick catalog lists five variants of the base P-26 number, indicating a substantial print run across various iterations.

Issued on September 1, 1939—the very day Nazi Germany invaded Poland and World War II commenced in Europe—this note reflects Lebanon's status as part of the French Mandate territory of the Levant. The dual French-Arabic inscriptions and the redemption clause referencing 20 francs on Paris underscore the colonial monetary framework of the period. The architectural focus on Baalbek's Roman columns and Beirut's cityscape celebrates Lebanon's historical significance and emerging modern identity during a transitional period in Middle Eastern geopolitics.

The obverse features the Columns of Baalbek—the magnificent Roman temple ruins located in the Bekaa Valley of Lebanon—prominently positioned on the left side, symbolizing the nation's ancient heritage. The center displays a cityscape view of Beirut, Lebanon's capital. Two ornamental circular emblems with heraldic designs appear at the top center and right, representing official seals and national authority. Decorative floral and geometric patterns frame the design throughout. The reverse presents a landscape or cityscape scene of Beirut in an ornate oval cartouche, surrounded by pink/red decorative borders with geometric patterns and corner ornaments. Two authorized signatures appear at the bottom right of the obverse, validating the issue.

FRONT: 'LIBAN' (Lebanon); 'BANQUE DE SYRIE ET DU LIBAN' (Bank of Syria and Lebanon); 'UNE LIVRE' (One Pound); 'REMBOURSABLE AU PORTEUR CONTRE 20 FRANCS EN CHEQUE SUR PARIS' (Redeemable to bearer against 20 francs by check on Paris); 'BEYROUTH 1ER SEPTEMBRE 1939' (Beirut September 1st 1939); 'LIVRE' (Pound); Serial number 'NO.058.425'. BACK: 'بنك سوريا لبنان' (Bank of Syria and Lebanon in Arabic). Arabic equivalents on obverse include 'لواحدة' (One) and 'تدفع حاملها بقيمة عشرين فرنكا على باريس' (Payable to bearer for twenty francs value on Paris).

Intaglio (steel engraving) throughout, evidenced by the fine-line engraved details, ornate borders with interlocking geometric patterns, and sharp definition of the circular seal emblems and architectural elements. Printed by Banque de Syrie et du Liban or its contracted security printer. The multi-color printing (pink/salmon, green, red, beige/tan, gray/black) employed separate intaglio plates for each color in typical early 20th-century banknote production.

This specimen is cataloged as Pick P-26d, the 'LIBAN' overprint variant, distinguishing it from P-26a, P-26b, P-26c, and P-26e. The visual analysis confirms the 'LIBAN' overprint is present on the obverse. Serial number NO.058.425 and the specific signature configuration identify this as a first issue from the September 1, 1939 release. The BWC printer attribution (Banque de Syrie et du Liban's contracted security printer) applies to this variant.