Rimon Auctions
Auction 16 14 Sep 2022
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Palestine - Cash Check, 10 Francs 1914 - First Series, Type 1 - VF-XF - Rare
Signed on the front and back side:
societe cooperative vigneronne
Des grandes caves
Richon Le Zion Zicron Jacob
and translated from French:
Cooperative association for growing wine
Large cellars
Rishon LeZion Zikrhon Ya'akov
Anglo Palestine (Bank) was founded in February 1902 In London, as a subsidiary of the "Jewish Settlement Fund" which was established by Herzl to serve as a financial instrument of the Zionist movement. The first branch of the company was opened in August 1903, by David Zalman Levontin, the founder and first manager of the company.
On July 28, 1914, the First World War broke out in Europe, the Ottoman Empire imposed economic restrictions throughout the empire and of course in Palestine. The restrictions together with the uncertainty of war in Europe caused the population to hoard cash, and the lack of money circulation caused an economic crisis and almost a complete stoppage of trade in the settlement.
In order to overcome the lack of cash and provide the residents with the "golden francs" (gold coins and mainly gold coins francs were the basis of trade in Palestine before the war), AFC created the method of using registered checks or "cheques Marked" as they were called.
Signed on the front and back side:
societe cooperative vigneronne
Des grandes caves
Richon Le Zion Zicron Jacob
and translated from French:
Cooperative association for growing wine
Large cellars
Rishon LeZion Zikrhon Ya'akov
Anglo Palestine (Bank) was founded in February 1902 In London, as a subsidiary of the "Jewish Settlement Fund" which was established by Herzl to serve as a financial instrument of the Zionist movement. The first branch of the company was opened in August 1903, by David Zalman Levontin, the founder and first manager of the company.
On July 28, 1914, the First World War broke out in Europe, the Ottoman Empire imposed economic restrictions throughout the empire and of course in Palestine. The restrictions together with the uncertainty of war in Europe caused the population to hoard cash, and the lack of money circulation caused an economic crisis and almost a complete stoppage of trade in the settlement.
In order to overcome the lack of cash and provide the residents with the "golden francs" (gold coins and mainly gold coins francs were the basis of trade in Palestine before the war), AFC created the method of using registered checks or "cheques Marked" as they were called.