Finding Israeli Commemoratives in the Wild: A Cherry Picker’s Guide

Why Roll Hunting Israeli Coins Makes Sense

You don’t always need a dealer to find this. Here is what to look for when searching through circulation or bulk lots.

While Israeli coins may not be the first thing that comes to mind when thinking about roll hunting, they can occasionally be found in unexpected places. The key is knowing what to look for and understanding the market dynamics that affect their availability and numismatic value.

Historical Context of Israeli Coinage

On May 14, 1948, Israel became a modern country. Since then, their legal tender coin designs have commemorated much of their history. The Israel Coins and Medals Corp. (ICMC) was established in 1958 by Israel’s first Prime Minister David Ben Gurion. Its purpose was then, and still is, to commemorate the national and historic events of the State of Israel and its outstanding personalities, and the milestones in their culture, art and people.

ICMC was fully owned by the Israel Government until 2008, when it was privatized and bought by the G.R.A.S. Group. Today, ICMC operates in a wide range of activities, with special emphasis on production and global promotion of gold and silver for investment under The Holy Land Mint trademark.

What Makes Israeli Coins Appealing to Cherry Pickers

Unlike some modern commemorative programs from other nations, Israeli coins and medals actually commemorate events relevant to Israeli history and culture. There’s very little Star Wars/Bugs Bunny/Lord of the Rings bandwagon-jumping from the Israeli mint. This authenticity factor makes them potentially more interesting to collectors who appreciate historical significance over pop culture themes.

Key Series to Watch For

• War of Independence issues – The first coins minted during difficult conditions often have historical appeal
• Six Day War commemoratives – The 1967 100 Lirot Victory coin with the IDF emblem is considered iconic
• Entebbe raid medals – Gold medals commemorating this famous rescue operation
• Early gold medals – The 1958 15-gram 90% gold medals are particularly interesting

Where to Find Israeli Coins

Circulation Finds

Modern Israeli coins in circulation are rare outside Israel, but you might occasionally find them in:

• Foreign coin rolls from banks
• World coin collections at estate sales
• Bulk lots from online auctions

Bulk Lots and Estate Sales

This is where most cherry pickers find Israeli material. Look for:

• World coin collections being sold as single lots
• Jewish heritage collections often contain Israeli material
• Investment portfolios from the 1960s-1980s may include gold Israeli medals

Identifying Key Markers

When examining potential finds, look for these characteristics:

• Hebrew text – Most Israeli coins prominently feature Hebrew lettering
• Modernist designs – Many Israeli coins feature very modernistic, almost abstract designs
• Bank of Israel markings – Official legal tender issues will have proper Bank of Israel markings
• Gold content stamps – Medals will often be marked with weight and purity

Value Considerations

Understanding the market is crucial for successful cherry picking. Several factors affect Israeli coin values:

Supply Factors

Israel has made an awful lot of these things over the years, both “coins” and “medals”. Mintages tend to be high, and the coins and medals remain on sale from the Israeli mint until they sell out, sometimes years after the event being commemorated.

Demand Factors

Several issues affect demand:

• Language barrier – Most people outside Israel can’t read Hebrew
• Political polarization – Some collectors avoid Israeli coins for political reasons
• Limited collector base – No strong collector base exists in Israel itself
• Market saturation – High supply with limited demand keeps prices depressed

Investment Potential

High supply and low demand combine to make investment profits minimal. So investor-collectors stay away from the series, which in turn keeps prices even lower. However, this also means opportunities exist for patient collectors.

Notable Finds to Watch For

The 1958 Gold Medal

A forum member mentioned having 11 of Israel’s first Gold Medal from 1958 – 15 gram coins that are 90 percent gold. With only 10,000 minted and many likely melted over the years, these could have collector premium potential beyond just bullion value.

The Six Day War Commemorative

The 1967 100 Lirot coin featuring the IDF emblem and Jerusalem’s Western Wall is considered one of the more iconic Israeli coins and may command premiums.

Authentication Tips

When you find potential Israeli coins, verify:

1. Weight and dimensions match specifications
2. Metal content matches description (if marked)
3. Hebrew text is properly formed and not a counterfeit
4. Bank of Israel official markings are present on legal tender issues

Market Timing

Some collectors believe that at some point, so much NCLT (Non-Circulating Legal Tender) material will have been melted that the market could catch fire. While this might not happen in our lifetime, patient collectors might benefit from buying during current depressed conditions.

Conclusion

Israeli coins and medals represent an interesting niche for roll hunters and cherry pickers. While the market is currently depressed due to high supply and limited demand, this creates opportunities for collectors who appreciate the historical significance and authenticity of these pieces. The key is knowing what to look for, understanding the market dynamics, and being patient enough to wait for the right opportunities. Whether you’re searching through bulk lots at estate sales or occasionally finding modern Israeli coins in foreign rolls, having knowledge about these items can help you spot valuable pieces that others might overlook.

Remember that while many modern Israeli NCLT issues may not be worth significant premiums, early issues, gold medals, and coins commemorating major historical events often have more collector appeal and potential for appreciation. Happy hunting!

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