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Banknotes and Coins

The Bank of Israel holds the sole legal authority to issue currency, meaning legal tender (banknotes, coins, commemorative coins, and special coins) in Israel. The Currency Department’s functions include the issuance of currency and the regulation and direction of the currency system, ensuring the orderly supply of cash to the economy in accordance with demand and supply.

Security Features and Information about the Third Series of the New Shekel, 2014

The banknotes in the Third Series of the New Shekel carry the portraits of outstanding Hebrew poets whose life stories, works, and activities are intertwined with the story of the rebirth of the Nation of Israel in its land.

The banknotes in the series incorporate advanced levels of security, innovation, and accessibility.

They include a range of advanced anti-counterfeiting security features and integrate dedicated features to facilitate use by the blind and vision impaired.

The first denomination of the third series of the New Shekel, the NIS 50 banknote, was put into circulation in September 2014 (Elul 5774).

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  • Portrait of

    Nathan Alterman
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    150mm x 71mm
  • Issue date

    December 2015.
  • Color

    Blue
  • Design of edge

    Moonlit flora inspired by the poem "Eternal Meeting" and an excerpt from the poem “Morning Song”.
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Feel
Tilt
  • Portrait of

    Nathan Alterman
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    150mm x 71mm
  • Issue date

    December 2015.
  • Color

    Blue
  • Design of edge

    Moonlit flora inspired by the poem "Eternal Meeting" and an excerpt from the poem “Morning Song”.
Drag right or left with the mouse or with a finger to rotate the banknote.
Drag right or left with the mouse or with a finger to rotate the banknote.

Nathan Alterman (1910-1970), one of the greatest modern Israeli poets, was also a translator, journalist, playwright, and songwriter. Born in Warsaw, Poland, he immigrated to Israel with his family in 1925 and settled in Tel Aviv. Alterman was awarded numerous prizes for his literary works and translations, among them the Tchernichovsky Prize for Outstanding Translations (1946, 1968), the Ruppin Prize (1947), the Bialik Belles-Lettres Prize (1957), and the Israel Prize for Literature, for his lifetime achievement (1968).

Alterman’s writing is rich and variegated. It includes Hebrew poetry, plays, songs, and children’s songs alongside contemporary issues and prose. His writing strongly influenced modern Hebrew poetry and is considered innovative and groundbreaking. His first book of poems, Stars Outside, was first published in 1938 and was lauded as a great innovation in Hebrew poetry due to its language, which was rich in linguistic imagery and dual meanings that could be read into his poems. Many of Alterman’s poems are well-known. Among these are: “Still the Tune Returns” - the opening poem of his book “Stars Outside”, “Eternal Meeting”, “Preservation Song”, “Eliphelet”, “Anemones”, “Song of Three Answers” and many more. Among his better-known and more successful plays, which have been presented at the Cameri and Habima theaters, are the plays “Kinneret Kinneret”, “The Inn of Ghosts” and “King Solomon and Shalmai the Cobbler”. Besides his original writing, Alterman was a copious translator of masterpieces of world literature including children’s songs, and plays by Shakespeare, Racine, and Moliere.

The NIS 200 banknote from the third series of the New Shekel is dedicated to Nathan Alterman’s work. The note’s obverse bears the poet's portrait and the words of the poem “Eternal Meeting” in microtext. The poem was given numerous interpretations due to its ambiguity. It includes verses mentioning the forces of nature, the night, and the moon. These were the inspiration for the layout of the NIS 200 banknote, the interplay between the autumn leaves on the obverse and the moonlit flora on the reverse. A verse out of Alterman’s poem “Morning Song” also appears on the obverse: “We love you our motherland, joyously, with our song and with our labor”.

Related links and further information on Nathan Alterman:

Nathan Alterman on Wikipedia
Nathan Alterman website
(in Hebrew)
Lexicon of Modern Hebrew Literature 
(in Hebrew)
Israeli Institute for Hebrew Literature

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  • Portrait of

    Leah Goldberg
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    143mm x 71mm
  • Issue date

    November 2017
  • Color

    Orange
  • Design of edge

    A group of does—the inspiration for her poem “What Do the Does Do?”, which is also the name of her first children’s book, and an excerpt from her poem “White Days”.
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Tilt
  • Portrait of

    Leah Goldberg
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    143mm x 71mm
  • Issue date

    November 2017
  • Color

    Orange
  • Design of edge

    A group of does—the inspiration for her poem “What Do the Does Do?”, which is also the name of her first children’s book, and an excerpt from her poem “White Days”.
Drag right or left with the mouse or with a finger to rotate the banknote.
Drag right or left with the mouse or with a finger to rotate the banknote.

Leah Goldberg (1911–1970), was one of Israel’s most important and outstanding poetesses. She also wrote fiction and plays, translated, edited, taught, wrote critiques and engaged in research. Goldberg was born in Koenigsberg, Prussia (in today’s Russia) and grew up in Kaunas, Lithuania. She completed her doctoral thesis in 1933 in Semitic linguistics, and immigrated to pre-Israel Palestine in 1935.

Goldberg’s poetry is contemplative, her language clear. Her works deal with intimate, personal issues and include descriptions of Israeli and European landscapes. Much of Goldberg’s work deals with the legacy from her life in Europe and with the Holocaust and its impact on her generation. Many of her poems have been set to music, among them “Is It True?”, “Atonement”, “The Love of Theresa di Meun” (“From My Window and Yours”), “Evening Opposite the Gilead” (“The Trees Are So Heavy”) and “The Hyacinth’s Song”. Goldberg wrote and edited numerous children’s books—among the most well-known are “Apartment for Rent”, “The Absent-Minded Man from Kfar Azar”, and “Where is Pluto”. Besides writing, Goldberg was involved in numerous related pursuits. She translated classics from world literature, including Tolstoy, Chekhov, Shakespeare, and Ibsen. She also edited newspapers and children’s books, taught, and served as professor of general and comparative literature at Hebrew University. Goldberg’s writings earned her the Rubin Prize in 1949, and in 1970—posthumously—she was awarded the Israel Prize for literature.

The NIS 100 banknote from the third series of the New Shekel is dedicated to Leah Goldberg’s work. The obverse bears her portrait against a background of almond blossoms, beside which in microtext is the poem entitled “In the Land of my Love the Almond Tree is Blooming”. The reverse depicts a group of does—the inspiration for her poem “What Do the Does Do?”, which is also the name of her first children’s book. The reverse also contains an excerpt from the poem “White Days, As Long As the Summer Rays of the Sun”.

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  • Portrait of

    Shaul Tchernichovsky
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    136mm x 71mm
  • Issue date

    September 2014
  • Color

    Green
  • Design of edge

    A Corinthian style column and lines from Shaul Tchernichovsky’s poem “I Believe”.
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Tilt
  • Portrait of

    Shaul Tchernichovsky
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    136mm x 71mm
  • Issue date

    September 2014
  • Color

    Green
  • Design of edge

    A Corinthian style column and lines from Shaul Tchernichovsky’s poem “I Believe”.
Drag right or left with the mouse or with a finger to rotate the banknote.
Drag right or left with the mouse or with a finger to rotate the banknote.

Shaul Tchernichovsky (1875-1943), was one of the greatest Hebrew poets of the first half of the 20th century, as well as a translator and a doctor. He was born near the Ukraine border and immigrated to the Land of Israel in 1931. He studied medicine, and after his graduation—and for the rest of his life—combined his work as a doctor and his work as a poet.

Tchernichovsky’s poetry is prolific and diverse, blending influences of both Jewish and world culture. In his work he was influenced by landscapes of his native country, Greek culture, the land of Israel and the Bible. Poems like “I Believe”, “They Say There is a Country” and “Oh, My Land, My Birthplace” reflect his relation to Zionism, the Jewish people and the land of Israel. These poems, like many others such as “I Have a Garden”, “Lily of Wonders” and “I Don’t Love Her” were put to music and performed by some of the best Hebrew performers. Tchernichovsky was also known as an excellent translator and was responsible for the translation into Hebrew of classical masterpieces.

The design of the NIS 50 banknote in the third series of the New Shekel reflects the rich and diverse poetry of Tchernichovsky and his relation to the land of Israel, along with his embrace and comprehensive knowledge of world culture. The obverse of the banknote carries his portrait and the lyrics of his poem “Oh, My Land my Birthplace” in microtext, which inspired the incorporation of a citrus tree with fruits in the design of the banknote. The reverse of the note incorporates a Corinthian-style column, reflecting Tchernichovsky’s interest in classical Greek works. A sentence from Tchernichovsky’s poem “I Believe” is printed on the reverse of the banknote: “For I shall still believe in both Man and his spirit, a fierce spirit”.

Links and further information about Shaul Tchernichovsky:
The National Library of Israel
CET (The Center for Educational Technology)
Project Ben-Yehuda
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  • Portrait of

    Rachel the Poetess
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    129mm x 71mm
  • Issue date

    November 2017
  • Color

    Red
  • Design of edge

    A typical landscape of the Sea of Galilee, inspired by her poem “Kinneret”, and an excerpt from her poem, “Perhaps it was Never so”. Features for the blind and vision impaired: A pair of lines printed in raised ink, along both the left and right edges of the banknote, near the bottom.
See
Feel
Tilt
  • Portrait of

    Rachel the Poetess
  • Designer

    Ms. Osnat Eshel
  • Dimensions

    129mm x 71mm
  • Issue date

    November 2017
  • Color

    Red
  • Design of edge

    A typical landscape of the Sea of Galilee, inspired by her poem “Kinneret”, and an excerpt from her poem, “Perhaps it was Never so”. Features for the blind and vision impaired: A pair of lines printed in raised ink, along both the left and right edges of the banknote, near the bottom.
Drag right or left with the mouse or with a finger to rotate the banknote.
Drag right or left with the mouse or with a finger to rotate the banknote.

Rachel the Poetess (Rachel Bluwstein, 1890–1931) is among the most prominent and well-known Hebrew poets, and is regarded by many as foremost among them. Her poetry has earned a place of honor in Hebrew culture and she is beloved by many generations of readers.

Rachel was born in Saratov, a city on the frontier of the Russian empire, to a Zionist family. She immigrated to pre-Israel Palestine in her youth. Rachel first settled in the city of Rehovot and later moved to Havat Ha’Alamot, a women’s farm, on the shores of the Sea of Galilee. She later moved to the Kibbutz Deganya, where she was diagnosed with tuberculosis, a disease which at the time was considered terminal, and which ultimately caused her untimely death.

She began writing in her youth in Russian. Her work was influenced by the Bible, contemporary pioneer literature, and sources and schools in Russian and French literature. Her poetry is remarkable for its simplicity and its succinct language. It expresses her loves, her disappointments, her pains, and her fears. It is replete with allusions to her short, tragic life; a large portion of it deals with awaiting death. Among her most famous poems are “Only About Myself”, “To My Land”, “Encounter, Barely an Encounter”, “Kinneret” (“Yonder are the Golan Mountains”), “Sad Song” (“Do You Hear My Voice”), “Sealed Garden”, “Gift”, and others. Many of her poems have been set to music and have been performed posthumously by Israel’s leading artists. Over the years they have become indispensable pillars of Israeli culture and poetry.

The design of the NIS 20 banknote in the third series of the New Shekel evokes Rachel’s poetry and the landscapes of her life. The obverse bears her portrait against a background of palm fronds, beside which in microtext is the poem “Kinneret”—the inspiration for the design of the banknote’s reverse. The reverse depicts a landscape from the Sea of Galilee, the lake of which Rachel wrote many poems and on whose shores she wished to be buried. In addition, the reverse bears an excerpt from “Perhaps it Never Happened...”: “O my Kinneret, Were you, Or was I dreaming?”

Value of banknotes in circulation

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Value of coins in circulation

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Legislation & Regulation

Planning of banknotes, coins and commemorative coins

The currency system in Israel

Private ATMs

Private automatic cash withdrawal machines are operated by nonbank entities and are loaded with cash that is provided by a banking corporation.  The public is able to withdraw authentic high-quality banknotes from such machines, and can also withdraw cash from various merchants, provided from their cash registers.

Retailers and merchants

Most cash deposits are made by merchants who maintain their business with the banking corporation.

The public

The general public can deposit cash at any time using ATMs that enable deposits.

Bank branches

Large merchants are able to use a direct deposit channel from their premises to a cash center, through a courier company.  All cash deposited at a cash center is counted using machines approved by the Bank of Israel.  Following the counting, the cash determined to be "usable" is recycled to the public, and the rest is deposited with the Bank of Israel to be removed from circulation in order to ensure the quality of the cash in circulation.

Currency service machines, such as ATMs

Banking machines to provide currency services such as cash withdrawals and deposits.

Cash centers

Banking corporations make cash withdrawals from the Bank of Israel through their logistics centers, which are called cash centers.  The cash centers provide cash to the banking corporation branches, ATMs, and banking corporation customers.

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Commemorative Coins

Issuance of commemorative coins: As the exclusive issuer of legal tender in Israel, the Bank also issues commemorative coins each year and to mark special occasions. The Governor determines the form of the commemorative coins and special coins with the approval of the Supervisory Council and the Government (as noted in Section 43 of the Law).

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Application Form for Approval to Market Commemorative Coins
Application Form
Commemorative Coins

Search commemorative coins

Issuance of commemorative coins: As the exclusive issuer of legal tender in Israel, the Bank also issues commemorative coins, each year and to mark special occasions as well. The Governor determines the form of the commemorative coins and special coins with the approval of the Supervisory Council and the Government (as noted in Section 43 of the Law). To that end, the Governor is assisted by the Committee for the Planning of Banknotes, Coins, and Commemorative Coins. The coins are made of silver or gold, and marketed to the public and to collectors in Israel and abroad through a marketing company.

In accordance with Section 43(a) of the Bank of Israel Law, 5770-2010, the marketing of commemorative coins, special coins, and other numismatic items issued by the Bank of Israel (hereinafter, “the coins”) shall be given to a company appointed by the Minister of Finance, with the consent of the Governor.

According to the provisions of low, Minister of Finance Moshe Kahlon, with the consent of the Governor Dr. Karnit Flug, appointed the Israel Coins and Medals Corporation Ltd. (corp. ID #510298573), together with the G.R.A.S. Designs and Combinations Ltd. (corp. ID #511567059) as a nonexclusive marketers of commemorative coins, special coins, and numismatic items issued by the Bank of Israel, that are legal tender in Israel.​

If you would like to be appointed as a marketer of commemorative coins, you must fill in and submit the request forms available at the following link​

Application Form for (Non-Exclusive) Approval to Market Commemorative Coins

With the submission of this form, including its appendices, the submitter (hereinafter, the applicant) declares its agreement with all the marketing approval terms and all other provisions of the application documents, including all the terms of the framework agreement (including its appendices) and the considerations taken into account when approving the request by the Ministry of Finance and the Bank of Israel and affirms that it has no reservations regarding them. The applicant declares that should its application be accepted and approved as noted above, it undertakes to act in accordance with the application documents and the framework agreement (including its appendices) and the attached as Part B, signed by the applicant and attached to the application documents. The applicant declares that it is known to it that in accordance with the provisions of the Bank of Israel Law, 5770-2010, the marketing of the coins is dependent on receipt of the approval of the Minister of Finance and the consent of the Governor, and this is over and above the applicant’s complying with the requirements of this form, including its appendices.​