The Ango-Palestine Bank has its roots in London and began operating in present-day Israel in 1903. Before the State of Israel was proclaimed, it was necessary to organize currency operations, which were granted to the Anglo-Palestine Bank. This handsome 1 Pound note is from that first series of the summer of 1948. While circulated examples are not rare, this example is a stunning Gem, and is quite rare in this elite grade. This is currently the finest grade in the PMG Population Report. A high grade rarity and an extremely popular type.