Discover the Evolution of Israeli Shekel Coins

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Round Silver and Gold Coins
Credit: pexels.com, Round Silver and Gold Coins

The Israeli Shekel coins have a rich history, and it's fascinating to see how they've evolved over time. The first Israeli Shekel coin was introduced in 1948, just after the country gained independence.

The first coins were made of a combination of metals, including copper, nickel, and silver. This was a deliberate choice to make the coins durable and resistant to corrosion.

The Israeli Shekel coins have undergone several design changes since their introduction. One notable change was the introduction of the new Israeli Shekel coin in 1986, which featured a more modern design and a new security feature to prevent counterfeiting.

The new design included a special strip that reflected light and made it difficult to reproduce. This innovation helped to reduce the number of counterfeit coins in circulation.

A unique perspective: New Shekel to Gbp

History of the Israeli Shekel

The Israeli shekel has a rich history that spans thousands of years. It was first used as a unit of currency in ancient times.

Credit: youtube.com, JUDAEA. The Jewish War (AD 66-70). AR half-shekel (19mm, 6.86 gm, 12h). NGC Choice XF 5/5 - 2/5.

The shekel was initially used in ancient Israel and was subdivided into 100 new agorot. In 1980, the Israeli pound was replaced by the shekel, which was later replaced by the new shekel in 1985 due to hyperinflation.

The new shekel was introduced in 1985 and is still the monetary unit of Israel today. It's divided into 100 agorot and its currency symbol is ⟨ ₪ ⟩.

Here's a brief timeline of the Israeli shekel:

  • 1980: Israeli pound replaced by the shekel
  • 1985: Shekel replaced by the new shekel
  • 2014: Bank of Israel adopts standard English forms Shekel and Shekels

Second Temple Half-Temple Tax

The Second Temple half-Shekel tax was a significant practice among Jews during the Second Temple period.

This annual tax was used to maintain and upkeep the Temple precincts, as well as purchase public animal offerings.

Jews living in the Land of Israel and those living outside the Land of Israel were both required to pay this tax.

Archaeological excavations at Horvat 'Ethri in Israel uncovered a half-Shekel coin minted in the 2nd century CE.

This coin had a silver content of 6.87 grams and featured the words "Half-Shekel" in paleo-Hebrew.

According to Josephus, the annual monetary tribute of the half-Shekel was equivalent to two Athenian drachmæ.

Each Athenian or Attic drachma weighed a little over 4.3 grams.

Intriguing read: Israel Gold Coins

Glimpses of Israel History

Grayscale Photo of Coins
Credit: pexels.com, Grayscale Photo of Coins

The Israeli Shekel is more than just a currency, it's a window into the country's rich history. The currency is filled with references to ancient and modern Israel, making it a fascinating collectible for history buffs.

The 1 shekel coin features a lily, based on a Judean coin from the Persian period (6th-4th century BCE). You can see the ancient script on the coin, giving you a glimpse into the past.

The 10 shekel coin has a candelabrum, a replica from a coin issued by Mattathias Antigonus (37-40 BCE). This coin is a testament to Israel's long and storied history.

The 10 shekel coin also features the words "for the redemption of Zion" in ancient Hebrew, just as they did on a coin from 69 CE, during the Jewish rebellion against Rome. This is a powerful reminder of the country's history and struggle for independence.

The 20 shekel bill features an image of the Israeli flag unfurling at the United Nations for the first time on May 12, 1949. This is a significant moment in Israel's history, marking the country's recognition as a sovereign state.

The purple 50 shekel bill features a portrait of Shmuel Yosef Agnon and an excerpt from his Nobel Prize acceptance speech in 1966. This is a celebration of Israel's literary and cultural achievements.

The New Shekel

Credit: youtube.com, Old Israeli Banknotes - Israeli Pound/Lira, Old Shekel and New Shekel

The new shekel is the monetary unit of Israel, and it's also used by the Palestinian National Authority alongside the Jordanian dinar. It's divided into 100 smaller units called agorot.

The new shekel was introduced in 1985, replacing the old shekel at a rate of 1000 old shekels for each new unit. This changeover marked a significant shift in Israel's currency system.

The new shekel has become the standard currency in Israel, widely accepted and used in everyday transactions. It's a stable and reliable unit of exchange, trusted by businesses and individuals alike.

Additional reading: Israeli New Shekel to Euro

Coins and Notes

The Israeli shekel coins are made of a nickel alloy and come in various denominations, increasing in size as the value increases. Be careful not to confuse the 1 and 2 shekel coins, as they're only about half the size of the photos below.

The 5 shekel coin is a dodecahedron, 12-sided, but as the sides wear down, it looks much like a circle.

Credit: youtube.com, Currency of the world 2023 - Israel (Coins & Banknotes)

The 10 shekel coin is steel with a brassy center and ridged edges.

Here's a quick rundown of the Israeli shekel coins:

Israeli currency gives you little snapshots of Israel history, with some references to ancient history, like the 1 shekel coin and the 10 shekel coin.

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Did You Know?

The Israeli shekel coins have some interesting facts behind them. Here are a few that might surprise you:

The new shekel coins are actually minted outside of Israel, with the Korea Minting and Security Printing Corporation being one of the manufacturers.

You might be wondering why the old shekel suffered such a strong and uncontrolled inflation in the early 1980s. It was a result of Israel's economic crisis during that time.

The new shekel has been a flexible currency since January 1, 2003, allowing for free trade in the forex market.

Vanessa Schmidt

Lead Writer

Vanessa Schmidt is a seasoned writer with a passion for crafting informative and engaging content. With a keen eye for detail and a knack for research, she has established herself as a trusted voice in the world of personal finance. Her expertise has led to the creation of articles on a wide range of topics, including Wells Fargo credit card information, where she provides readers with valuable insights and practical advice.

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