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Questions and answers
Why are new banknotes needed?
Changing banknotes every few years is common practice in advanced economies, primarily due to obsolescence of banknote security features and concern of counterfeiting. The outgoing series of Israeli banknotes (Series B of the New Shekel) entered into circulation in 1999, so the Bank of Israel has issued new banknotes that incorporate advanced standards of security, innovation and accessibility.
Can I continue to use the banknotes I have (Series B of the New Shekel) after the new banknotes are issued?
It will still be possible to use the outgoing banknotes for several years after the new series has been issued. Over time, the Bank of Israel will issue detailed instructions regarding the deadline for replacing the outgoing banknotes still remaining in circulation.
How can I replace the banknotes I have with banknotes of the new series?
Banknotes can be replaced at branches of commercial banks and at the Israel Post. The outgoing banknotes (and damaged or defective banknotes) can also be replaced at the public counters at the Bank of Israel in Jerusalem in accordance with the rules the Bank publishes on its website.
Have there been any changes in the denominations of the new series of banknotes?
The new series of banknotes consists of the same four denominations as in the outgoing series—NIS 20, NIS 50, NIS 100 and NIS 200. When banknotes from the outgoing series will be exchanged, they will be replaced with new banknotes of the same denominations.
Why is it important to check the security features incorporated in the new series of banknotes?
Counterfeiting has existed ever since money was invented, and there is a constant struggle between law authorities and counterfeiters. Counterfeiting has increased with the introduction of advanced, easily-accessible photographic and printing technologies into the market. The public is urged to familiarize itself with the security features and inspect each banknote as it comes into their possession to make sure it is not counterfeit.
It is easy to check the banknotes’ safety features: you can see them, feel them, and detect them by tilting the banknote. All the features are common to each of the new denominations. We recommend that you look for several security features rather than relying on checking just one of them. It is important to bear in mind that a counterfeit banknote is a worthless piece of paper and therefore it must not be passed on and there is no cash refund for it. The recipient is responsible for checking the authenticity of the banknote.
Where can we learn more about the new banknotes and the security features that have been incorporated in them?
- In various media publications and advertisements.
- At the Bank of Israel website, under the following tab: “Banknote Security Features”.
- At the call center - dial: 1-800-300-018.
- By contacting the Currency Department through Israel Post or through the following email address: contact_currency@boi.org.il.
Are the new banknotes more accessible to persons with impaired vision?
Yes. The Bank of Israel attaches great importance to accessibility, and therefore worked to improve it in various ways, including:
- New banknotes are distinguished by a 7 mm difference in length between denominations.
- Banknotes carry unique identification marks for each denomination, printed on the margins with a special raised ink that can be felt.
- The nominal value of each banknote appears several times with different contrasts (dark against light background and light against dark background).
- The font size of the nominal value printed on the banknote is especially large (about 20 mm) compared both to the previous series and to banknotes in other countries.
- Each banknote has one dominant color.
- The banknotes in colors most color-blind people cannot distinguish between—red and green (NIS 20 and NIS 50)—bear different-font numerals. The notes bearing identical numerals (NIS 20 and NIS 200) are the most distinct from each other in color (red and blue) and length (129 mm and 150 mm).
What material are the banknotes made of?
All banknotes of the new series are made of an upgraded cotton paper substrate, expected to extend their lifetime and durability under circulation conditions.
How were the colors for the new series of banknotes selected?
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The colors for the new banknotes were selected taking into consideration a set of professional factors and following consultation with experts in Israel and worldwide. It is common practice to choose the base colors for the banknotes—red, green and blue (RGB)—since these colors are the most easily distinguished from each other under different lighting conditions and after the notes have been in circulation over time.
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In countries like Israel, the validity of the outgoing (old) series of banknotes is time-limited, and therefore they can continue to be used only for a limited period after the new series has been introduced into circulation. To prevent confusion and fraud, and the attendant financial loss, after the banknotes’ validity has expired, it is best to make a clear distinction between the colors of the old and new notes of the same denomination. Therefore the color of the new NIS 20 banknote is different than that of the old NIS 20 note, the new NIS 100 note is a different color than that of the old NIS 100 note, and so on.
How may we distinguish between the banknotes from the old series and the banknotes from the new series?
The banknotes in the new series are substantially different from the old notes in their design, in their security features and in the feel of the note’s paper.
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Banknotes of the new series, including the portraits on the notes, are designed and printed horizontally (landscape printing), as opposed to the notes from the old series, which were printed vertically (portrait printing).
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The security features on the new notes have been updated and replaced with advanced, conspicuous features, relative to the old series, making it easier to distinguish between the two series.
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In the new series, the length of each denomination is different from the others, whereas in the old series all denominations were the same length.
Who are the personages featured on the new banknotes?
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The new series of banknotes bears the images of influential figures from the fields of literature and poetry, and whose life stories, works and achievements are interwoven with the story of the national revival of the State of Israel. This has been done in order to bequeath their contribution to cultural life in Israel to future generations.
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The NIS 20 banknote bears the portrait of Rachel the Poetess, the NIS 50 banknote bears the portrait of Shaul Tchernichovsky, the NIS 100 banknote bears the portrait of Leah Goldberg and the NIS 200 banknote bears the portrait of Nathan Alterman.
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The appearance of the images on denominations was assigned chronologically by their date of death, from the earliest (Rachel the Poetess) to the most recent (Nathan Alterman).
How were the persons portrayed on the new banknotes selected?
In selecting the persons to be portrayed on the new banknotes, the Governor of the Bank of Israel consulted the Committee for the Planning of Banknotes, Coins and Commemorative Coins, a public committee headed by a retired Supreme Court Justice, Judge Jacob Turkel. The selected persons were then approved by the Supervisory Council of the Bank of Israel and by the Government.
How was the design of the new banknotes selected?
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The design of the new banknotes was selected, for the first time in the history of the Bank of Israel, by a public design contest, which was conducted anonymously, with over 80 graphic artists and designers from Israel taking part. The winner was the designer Ms. Osnat Eshel.
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In selecting the design, the Governor was assisted by a professional committee that included leading Israeli graphic designers, and the public Committee for the Planning of Banknotes, Coins and Commemorative Coins, headed by retired Supreme Court Justice, Judge Jacob Turkel.
- The selected design was then approved by the Supervisory Council of the Bank of Israel and by the Government.
Is the production cost of the new banknotes higher than that of the current banknotes?
Yes. The production cost of the new banknotes is slightly higher due to the integration of advanced security features and the improvement of the banknote substrate. However, the improvement of the banknote substrate is expected to reduce issuance costs as a result of the prolonged life of the new banknotes in circulation.
When were the Series C banknotes put into circulation?
- The NIS 50 banknote was issued in September 2014.
- The NIS 200 banknote was issued in December 2015.
- The NIS 20 banknote was issued in November 2017.
- The NIS 100 banknote was issued in November 2017.