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There are coins of 10 and 50 agorot, though the 50 agorot coin bears the inscription: "1 ⁄ 2 New Shekel". The 1 agora coin was withdrawn from circulation on April 1, 1991 by the Bank of Israel, [3] as was the 5 agorot coin on January 1, 2008; in each case the value had shrunk to much less than the cost of production.
The Bank of Israel maintains that the 10 agorot design was selected for its historical value, and is a "replica of a coin issued by Mattathias Antigonus (40–37 B.C.E.) with the seven-branched candelabrum". [6] The design, by Nathan Karp, first appeared on the 100 shekel coin issued by the Bank of Israel on 2 May 1984. [7]
The coins were conceived, in part, by Israeli graphic designer Otte Wallish. All coins and banknotes issued in Israel before June 1952 were part of the Palestine pound. In 1960, coins were issued denominated in agora. There were 1, 5, 10 and 25 agorot pieces. In 1963, IL 1 ⁄ 2 and IL 1 coins were introduced, followed by IL 5 coins in 1978.
In 1981, the value of Israeli currency continued to fall, reaching IS 15.60 per U.S. dollar at the end of the year. At the end of 1982, the exchange rate was IS 33.65 = US$1 and was falling still. The following shows the official exchange rate of one U.S. dollar in specific periods of time at the end of the period:
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Israel Coins and Medals Corp. is the body permitted by the Government of Israel to issue the official State Medals of Israel [1] and under an exclusive contract with the Bank of Israel, the corporation is the exclusive worldwide distributor of the commemorative coins and special banknote issues of the Bank of Israel. [2]
The word pruta was borrowed from Mishnaic Hebrew, in which it meant "a coin of smaller value". This word was probably derived originally from an Aramaic word with the same meaning. The pruta was abolished in 1960, when the Israeli government decided to change the subdivision of the Israeli pound into 100 agorot .
The design is based on a coin from the Bar-Kochba Revolt (132-135CE). The denomination "10 Pruta" and the date in Hebrew; two stylized olive branches around the rim. 4 January 1950 25 mil 30 mm 3.8 g Aluminum: Cluster of grapes, based on coins struck during the Bar-Kochba Revolt (132-135 CE); "Israel" in Hebrew above and in Arabic below.