Rimon Auctions
Auction 15 30 Jun 2022
View prices realized
► Sale information
Find similar lots
Israel - Bank of Chicago Medal 1970 - Silver 935, 59 mm, 115 g
The Exchange National Bank of Chicago was the first American Bank to open a branch in Israel. The bank was opened in Tel Aviv in 1970, after a merger it was renamed American-Israel Bank, and in 1996 was amalgamated into Bank Hapoalim. The Exchange Bank initiated since its opening several "American" innovations unknown in Israel, such as returning redeemed canceled checks to the issuing customer. This practice was later discontinued because of disinterest by Israeli customers. And the bank was more user-friendly towards English-speaking customers than traditional Israeli banks, because all its correspondence and documentation was truly bilingual. The bank was located in the Shalom Tower, the large building in the center of the picture taken in 1973, which then proudly claimed to be the tallest building in the Middle East.
The obverse of the medal depicts a portion of the U.S. flag. Below, a portion of the seven branched candelabrum, and in the center in Hebrew "Exchange National Bank of Chicago, the first American Bank in Israel 5730".
On the reverse to the left appears the bank emblem as it was printed on its checks and stationery. The rest of the space is occupied by an English duplicate of the Hebrew text on the obverse, except for the date 1970.
The Exchange National Bank of Chicago was the first American Bank to open a branch in Israel. The bank was opened in Tel Aviv in 1970, after a merger it was renamed American-Israel Bank, and in 1996 was amalgamated into Bank Hapoalim. The Exchange Bank initiated since its opening several "American" innovations unknown in Israel, such as returning redeemed canceled checks to the issuing customer. This practice was later discontinued because of disinterest by Israeli customers. And the bank was more user-friendly towards English-speaking customers than traditional Israeli banks, because all its correspondence and documentation was truly bilingual. The bank was located in the Shalom Tower, the large building in the center of the picture taken in 1973, which then proudly claimed to be the tallest building in the Middle East.
The obverse of the medal depicts a portion of the U.S. flag. Below, a portion of the seven branched candelabrum, and in the center in Hebrew "Exchange National Bank of Chicago, the first American Bank in Israel 5730".
On the reverse to the left appears the bank emblem as it was printed on its checks and stationery. The rest of the space is occupied by an English duplicate of the Hebrew text on the obverse, except for the date 1970.