500 rupees 1964

Common. The 500 Rupees denomination from 1964-1967 (Pick-19) series was a standard regular issue with substantial print runs to support the economy of the period. The eBay price data provided shows VF specimens selling for approximately $20-30 (per 2019 catalog values), and even professional PMG-graded examples (PMG 58) achieving modest auction prices of $61 in 2020. Notes routinely priced in the $20-30 range and with multiple sales records indicate this is a frequently encountered denomination in the collector market. While it holds numismatic and historical interest as an early Pakistani note, it does not meet any criteria for scarcity.

This 500 Rupees denomination was issued during the early years of the State Bank of Pakistan's independent note-issuing authority, a period marked by the consolidation of Pakistani national identity following independence from British India in 1947. The dual-language inscription in Bengali and Urdu reflects the political reality of the time, as East and West Pakistan were still united, with Bengali representing the eastern province before the 1971 partition. The choice to feature Mohammed Ali Jinnah, the founder of Pakistan, on the obverse underscores the nationalist significance of the currency and the central role of the State Bank building on the reverse demonstrates institutional pride in Pakistan's modern banking infrastructure during the 1960s modernization period.

The obverse features a dignified portrait of Mohammed Ali Jinnah, founder of Pakistan, positioned centrally wearing formal Western business attire (suit and tie) paired with the traditional red fez hat, symbolizing the synthesis of modern statehood with Islamic cultural identity. The portrait is rendered in fine engraved detail and is surrounded by an ornate border featuring geometric patterns and floral/heart motifs in cream and beige against the dominant pink/rose field. The reverse depicts the State Bank of Pakistan's headquarters building—a modern institutional structure with distinctive vertical striping, multiple stories, and geometric architectural elements characteristic of mid-20th century modernist design—shown in three-quarter perspective. The State Bank of Pakistan emblem/seal appears in the bottom right corner of the reverse. Both sides maintain consistent ornamental border designs and color schemes, with inscriptions appearing in three languages (English, Urdu, and Bengali) to reflect the nation's linguistic diversity during the 1960s.

FRONT SIDE: Serial number 'E236219' appears in top corners. Text in multiple languages: Bengali: 'সেন্ট্রাল ব্যাংক অব পাকিস্তান' (Central Bank of Pakistan), 'পাঁচশত টাকা' (Five hundred rupees), 'চাহিবা মাত্র ইহার বাহককে দিতে বাধ্য থাকিবের' (Payable on demand to the bearer). English: 'State Bank of Pakistan'. Urdu: 'پاکستان کے اسٹیٹ بینک' (State Bank of Pakistan), 'پانچ سو روپیہ' (Five hundred rupees), 'حامل سے لازمی طور پر ادا کریں گے' (Payable on demand to the bearer), 'ڈاکہ' (Dhaka). Denomination '500' in Arabic numerals and '৫০০' in Bengali numerals. BACK SIDE: 'STATE BANK OF PAKISTAN' in English at top, 'FIVE HUNDRED RUPEES' on right side. Denomination '500' in Arabic numerals and '۵۰۰' in Urdu/Persian numerals.

This note was produced using intaglio engraving, evidenced by the fine line work visible in the portrait rendering, the detailed architectural delineation of the State Bank building, and the intricate engraved border patterns throughout. The precision of the serif typefaces and the quality of the security features (particularly the fine-line work in the portrait) are characteristic of security printing by a specialized central bank printer. For this era of State Bank of Pakistan notes, production was typically handled by the Bank Note Press, Pakistan or international security printers contracted by the State Bank.

This specimen is cataloged as Pick-19c, indicating it is the third identified variety of the 500 Rupees 1964-1967 issue. The PMG population report identifies at least three variants (P-19a, P-19b, P-19s), differentiated by watermark characteristics and potentially overprint details. The visual analysis confirms the presence of Mohammed Ali Jinnah watermark and identifies the overprint location as 'Dhaka' based on the Urdu inscription 'ڈاکہ'. The serial number prefix 'E' and the specific serial number E236219 may further distinguish this as part of a particular printing batch, though definitive variety attribution would require access to comprehensive State Bank of Pakistan printer records or specialized catalogs covering detailed serial number range documentation for this series.