5 Mils

The Palestine Currency Board was established by British mandate in 1927 specifically to issue a currency pegged at par to sterling, replacing the Egyptian pound that had circulated through the region during and after World War I. The Board operated without a central bank behind it — reserves were held in London, making this among the more unusual colonial currency arrangements of the period. All coins were struck at the Royal Mint.

Production effectively ended with the 1944 issue; the 1947 date is scarce relative to earlier strikes. The Board was dissolved in 1948 following the end of the British Mandate, leaving substantial quantities of currency unredeemed.