Rare Banknote From British-Occupied Palestine to Be Auctioned in Jerusalem

A rare 50-pound banknote printed in 1929 in British-occupied Palestine is set to be auctioned Thursday by Jerusalem-based auction house King David Auctions. The starting bid for the note, described as the “rarest and most expensive note ever auctioned in Israel” is $80,000. The note had tremendous value even back in 1929. A spokesman for the auction house told Calcalist Thursday that 50 Palestine pounds are equivalent to several million in today’s shekels. While it was valid, the note could be used to buy premium land in Palestine, he said. Due to their high-value, only a few such notes were ever printed. The note has been garnering attention from potential buyers in Qatar and Saudi Arabia, he said.