Israel’s Specimen Pruta Coins
Originally published in Hebrew in the Israeli Numismatic Collector's Association newspaper, May 2017. Last updated May 2018.
General
As a long-time collector of Israeli coins, I have sometimes come across unusual coins bearing the inscription SPECIMEN and dated 1949, just one year after Israel’s declaration of independence. The legend SPECIMEN is more often used on banknotes, but is almost non-existent on coins. So, where did these coins come from? What was their use and purpose? What denominations exist, and what are their mintage figures? And, of course, what are they worth?
Image courtesy of PCGS
History
When the British Mandate of Palestine ended and the State of Israel was established in 1948, the coins and paper currency of the Mandate ceased to be legal tender. The newly-founded state had to come up with coins and banknotes for circulation in short order. The initial attempts for domestic coin production have not met with success: the quality of the coins was poor and production was very slow. It was determined that Israel lacked the machinery and know-how for a successful large scale coin production at that time. Therefore, production of coins was outsourced to suppliers in the U.K.[1]
Discovery of the Specimen Coins
According to Sylvia Haffner[1], the first discovery of the specimen coins occurred in 1969, in Germany, twenty years after the coins were first struck for circulation. At that time, four 25-Pruta copper-nickel specimen coins were found, all in one hoard. Haffner used an X-ray spectrograph (a tool for non-destructive material analysis) and a stereoscopic microscope (which produces 3D images), to determine that the metallic composition, as well as the size and weight, were identical to the circulation coins. Furthermore, the letters of the word SPECIMEN were raised from the field, which indicates that they were stamped into the die.
The original 1949 Pruta coins were struck by Imperial Chemical Industries of Birmingham, England, or ICI. The metals division of ICI, which included the mint, was split in 1962 to a separate company called IMI, Imperial Metal Industries. Haffner wrote a letter to IMI, who were surprised by the discovery. Their response letter stated that although they are certain that these coins were indeed a product of their mint, the persons in charge of that project have since passed away and left no record of such coins. IMI officials surmised that the specimen coins must have been used during negotiations with the fledgling government of Israel in order to demonstrate to Israeli officials the mints capabilities and proposed design. Interestingly, IMI’s letter stated that there were no other such specimen coins in IMI’s hands, which later turned out to be incorrect.
According to Arnold H. Kagan[2], three years later, in 1972, five additional such coins were found in London in the hands on an “ex-ICI mint employee”. This brought the total number of known coins to nine. By the time Kagan’s 3rd edition of his book was published in 1979, the total count of known coins was up to 20.
A single 10-Pruta scalloped aluminum specimen coin in heavily circulated condition was reported in 1973 by a collector who found it in circulation years before[2][3].
In 1974, a London dealer was surprised to discover that one of the 25-Pruta specimen coins in his possession was not struck in copper-nickel like all the others, but in aluminum[4]. Experts examining the coin determined that it made of the same alloy used for 1-Pruta coins, but struck using the same die as the 25 Pruta copper-nickel specimens. Finally, in 1976, a single 1-Pruta aluminum specimen was also found, bearing the same inscription[2][3].
An auction catalog from 1974 states that a one specimen coin was lost in the fire that destroyed a large part of Sylvia Haffner’s collection[5].
In March 2003, the Birmingham Mint went into liquidation in the U.K after over 200 years of activity[6]. The Birmingham Mint was the last incarnation in a series of mergers and acquisitions that also involved the ICI mint that struck coins for Israel. In the early part of the 20th century there were two mints operating out of Birmingham: the Birmingham Mint (formerly Heaton Mint), and Kings Norton Mint. In 1918, Kings Norton Mint was acquired by Nobel Industries which was later acquired by Imperial Chemical Industries (ICI). ICI later spun off Imperial Metal Industries (IMI), which in 1991 acquired the competitor Birmingham Mint and merged the operation of the two mints[7]. The Birmingham Mint maintained a vast archive of every series of coins it produced, including Israeli coins. When the mint closed down, the archive was donated to the Birmingham Museum and Art Gallery[8].
In 2005-2006, William M. Rosenblum mailbid auctions featured a single 1-Pruta specimen coin, and 3 different 25-Pruta specimen coins, in three different metallic compositions. One was a “normal” copper-nickel coin (2.82 grams), one was struck in aluminum (1.63 grams) and the third was bronze (2.68 grams). The bronze coin was the first of its kind to be discovered and was considered unique at the time[9]. The auction description mentioned that the coins originated from "the ICI mint archive".
Image by A.H. Kagan
Image courtesy of PCGS
Image courtesy of PCGS
In the following years, coins of various countries graded by PCGS as "Ex Kings Norton Mint Collection" have reached the market, probably from the Birmingham Museum's surplus inventory. The Birmingham Mint's building was ultimately demolished in 2007[10].
Denominations, Population, and Pricing
It is not easy to establish exactly which types of specimen coins exist and how many were struck of each type. Many coins described as specimen, graded as specimen, and even attributed to Kings Norton mint do not bear the actual SPECIMEN legend. The grading companies consider all of the coins that can be traced back the mint archive to be specimen coins, whether they have the inscription or not. This holds true for coins from other countries as well.
Further confusion arises from Proof coins. Apparently, all the specimen coins were stuck in proof, but there are also more proof Pruta coins which are not specimen. When reviewing auction descriptions or grading companies population reports, it’s not always easy to discern between Proof that is not specimen, “Specimen” which has no specimen inscription, and the “true” specimen coins.
Year 2012 saw the sale of the Kagan-Maremba collection of Israeli coins and banknotes. This collection was considered to be the largest and most complete collection of Israeli numismatics ever assembled. It was sold by Sotheby’s of London, as a single lot, with minimal description and only partial photos, for $572,500 including buyer’s premium[11]. The lot was said to contain the following: 25 Pruta specimen (8 coins), 250 Pruta specimen (2 coins), 1 Pruta specimen (2 coins) and 10 Pruta specimen (1 coin, uniface). The single image released by the auction house shows 8 25-Pruta copper-nickel specimens and what appears to be one aluminum specimen coins. From images of coins from that sale that were later graded by PCGS, it appears that the 250 Pruta were patterns of different designs and metallic compositions, but without the SPECIMEN inscription, and that the 10 Pruta uniface also does not bear the inscription.
In terms of prices realized for these coins, there is a very big spread between various auction results, sometimes even between auction results of the same coin. The prices quoted below are taken only from public auctions, not from private transactions between collectors or dealers.
The published records of these coins are as follows:
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1 Pruta – 9 known
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One mentioned by Kagan[2]
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One sold by William M. Rosenblum in 2006 for $6500, said to be from the mint archive but ungraded.
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Seven are graded by PCGS: three SP-62, one SP-63, and three SP-64. Of these, six are attributed to Kings Norton Mint and one has no pedigree. The non-pedigreed coin, graded SP-64, sold for $2585 at Stacks Bowers in 2014. A pedigreed coin graded SP-64 sold for $2640 at Heritage Auctions in 2018.
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10 Pruta (1952) Scalloped Aluminum – 1 known
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Kagan[2] says one coin was found in circulation by a Mr. Raphael Pinhos. Israeli coin dealer Kobi Liderman writes in his blog that the said collector visited his store many years ago and discussed the coin with him[12]. Mr. Pinhos has since passed away and his coin was never found. It is currently considered lost.
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25 Pruta copper-nickel – possibly 28 known
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Kagan[2] tells of 20 known coins, or perhaps one less if Sylvia Haffner’s coin was indeed destroyed in the fire. His collection featured 8 such coins.
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One of the above 20 coins was donated to the Eretz Israel Museum by Dr. Harry Altman in 1973[13]. The museum still has the coin but it is not on public display. See the next section for its pictures.
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William M. Rosenblum has sold several such coins in his mailbid auctions. In 2005 one sold for $2200, in 2007 one sold for $5200(!) and one sold twice: first time in 1998 for $2700 and second time in 2014 for $3500. Interestingly, Rosenblum refers to this specific coin as "The Harry Altman Specimen". Perhaps Dr. Altman had another piece beside the donation coin.
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11 coins are graded by PCGS: one SP-62, one SP-63, two SP-64, six SP-65 and one SP-66. Of these coins, two are attributed as “Ex Kagan Maremba Collection”, five as “Ex Kings Norton” and the others have no pedigree. A non-pedigreed coin, graded SP-64, sold for $2350 at Stacks Bowers sale in 2014. One SP-65 coin which was highest graded at the time, Ex Kings Norton pedigree, Sold for $5170 (!) by Heritage Auctions. Another such coin with the same grade and pedigree was sold at the same auction house for $3360 in 2018.
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NGC has graded at least five such coins, one PF-63, one
SP-64, and three SP-65. NGC has not been consistent in labeling the coins as PF or SP, although both are the same type. All three SP-65 coins are attributed to the Kagan-Maremba collection. The NGC website does not feature a population report for the specimen coin type, so others may exist that I’m unaware of. The PF-63 realized $2400 at Goldberg’s auction in 2011. -
My assumption is that all coins except the Kings Norton specimen were known to Kagan. This is why I estimated the total population to be at least 28 coins.
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25 Pruta Aluminum – probably 10 known
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8 coins are graded by PCGS: one graded SP-58 and attributed to “Ex Kagan Maremba” was also described in Kagan's book[2]. One coin graded SP-62 and six coins graded SP-64, some attributed “Ex Kings Norton Mint” but all very likely from that origin.
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One coin has been sold twice by William M. Rosenblum. It was first sold in 2005 for $3500, and subsequently re-sold in 2014 for $8750(!). The auction description states it originates from the mint archive. A coin attributed to the mint archive and graded SP-64 went unsold at Heritage Auctions with a reserve price of $2640 in 2018.
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An image of one coin in circulated condition was posted on a Hebrew-language online forum (collect.co.il) by an anonymous member. It was said to originate from a London dealer who acquired it from an ex mint employee around the time of the original discovery of the specimen coins.
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25 Pruta Bronze – probably 10 known
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Rosenblum’s discovery coin sold for $5450 in 2005.
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9 coins were graded by PCGS. One non-pedigreed SP-64RB sold for $3290 in 2014 by Stacks Bowers. The others are all attributed as “Ex Kings Norton Mint” or very likely from that source: four SP-64RD, one SP-65RB and four SP-65RD. The SP-65RB coin sold for $4320 at Heritage Auctions in 2018.
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The following tables summarize the above information:
Table 1: Population Summary
Table 2: PCGS and NGC Census
Unlike PCGS, NGC does not list the specimen population, so the exact number is unknown.
An excerpt from Israeli "Davar" newspaper, 1973. Translation: "A 25 Prutot coin dated 1949 which bears the addition "SPECIMEN" was donated to the Kadman Museum of Coins in the Erezt Israel Museum in Tel Aviv by American Dr. Harry Altman. This example was produced before the coins were issued and was given to the committee responsible for Israeli coin design for approval. Only a few samples are known and they are very high price". Source: Historical Jewish Press website – www.Jpress.org.il – founded by the National Library and Tel Aviv University.
The museum coin. Image courtesy of Cecilia Meir, curator of the Kadman Numismatic Pavilion in the Eretz Israel Museum in Tel Aviv
Additional Items of Interest
Artist's Drawings
Artist's cardboard drawings of 5 Pruta, 10 Pruta and 25 Pruta have been offered for sale in William M. Rosenblum auctions. The drawings are signed by the designer, Otta Walish, and all have the “SPECIMEN” inscription. It is interesting to note that the drawing for the 25 Pruta specimen matches the actual coin perfectly, but as for the 10 Pruta and 5 Pruta, no such coins were ever found. Could they exist somewhere? The drawings themselves went unsold at a starting bid of $4000 each. It has been brought to my attention that forgeries of similar items have later appeared on the market.
Images courtesy of William M. Rosenblum
“The Renewal of Israel’s Mint” Medal
In 1954, the Bank of Israel has commissioned several medals from the Utrecht mint in the Netherlands, in a style resembling the 100 Pruta, 50 Pruta and 25 Pruta coins, and with the inscription of “The Renewal of Israel’s Mint”. The original plan was to start a series of commemorative coins or medals for collectors. The designs were eventually scrapped and the commemorative coins program did not start until some years later, with different designs. However, the story did not end there. Several medals were found with the reverse of the “Renewal of Israel’s Mint” reverse, and the obverse of the 25 Pruta circulation coin! These “mule” medals can also be seen as sort of a specimen 25 Pruta coin.
One of the “Renewal of Israel’s Mint” medals. Image courtesy of William M. Rosenblum
The “Mule” medal: obverse of 25-Pruta, reverse of “Renewal of Israel’s Mint” medal. Image courtesy of PCGS.
Telephone tokens
Several telephone tokens with “Sample” in Hebrew were found, product of the Moshe Hecht factory. This factory went into production in 1981 and it can be assumed that these samples were presented to the Ministry of Communications at the time prior to production.
Image courtesy of Amit Kamrat
Other World Coins
Another question I’ve been trying to answer is which other countries have also struck coins marked "SPECIMEN". It’s difficult to answer because there are many world coins labeled as “specimen” by the grading companies, including many Kings Norton Mint products, that do not feature the actual SPECIMEN inscription. I have been able to find only two examples with the actual legend "SPECIMEN": the first are Shilling coins from British West Africa (examples exist in several dates, denominations and metallic compositions), and the second is Indonesia 50 Sen coins. Coins with the word “TRIAL” in raised lettering in the fields are relatively more common and can be found from several countries including Sri Lanka, Tanzania and others.
Image courtesy of PCGS
Image courtesy of Heritage Auctions
Then there is this unusual item: its obverse is in the shape of a Sierra Leone coin, with the added inscription "Royal Mint Trial". The reverse is in the shape of an Uruguay coin, with the added acronym I.M.I.K.N.B, which stands for Imperial Metal Industries, Kings Norton Birmingham. Apparently from the same mint that issued the Israeli specimen coins, I assume that this coin was struck for internal mint purposes, either for production trials or as a sales or marketing promotional item.
Image courtesy of PCGS
Bank of Israel 2 NIS and 20 Agorot Trial Strikes
In 2003, the Bank of Israel has struck trial coins in denominations of 20 Agorot and 2 Shekels (in a different design than the one ultimately used for striking 2 Shekels coin for circulation in 2008). The coins were distributed to key officials in the Bank of Israel and in the Ministry of Treasury, but eventually it was decided not to issue these series and the sample coins were locked away. It was later found that 8 coins were missing: five 2-Shekel coins and three 20-Agorot Coins that were in the possession of the then deputy bank governor Prof. Avia Spivak. Prof. Spivak has reported that the coins were lost[14], and no action was taken against him. The current whereabouts of these trial coins is unknown. Perhaps they would surface one day and reach the collectors market, as did their 1949 counterparts?
Acknowledgements
I would like to thank PCGS, Bill Rosenblum, Amit Kamrat, Heritage Auctions and Mrs. Cecilia Meir for their permission to use their photos in this article.
Illustration showing how a 20 Agorot trial coin might have looked like
Sources
[1] A History of Modern Israel's Money (1917-1970), Second Edition, By Sylvia Haffner
[2] Israel's Money and Medals, Third Edition 1979, By A.H. Kagan
[3] "Israel's Patterns, Trial Pieces and Rejected Designs" - by Sylvia Haffer from The Shekel Vol 12 No. 1
[4] "London Dealer Finds Rare Pattern" - from The Shekel Vol 8 No. 1
[5] “The Promised Land Coin Auction Sale”, Pine Tree Rare Coins, 1974, lot #709
[6] http://news.bbc.co.uk/2/hi/business/2872443.stm
[7] https://web.archive.org/web/20031206035050/http://www.birmingham-mint.com/history.html
[8] http://www.formatcoins.co.uk/buying-and-selling-coins
[9] William M. Rosenblum Auction 35D, 2005, lots #482-484 and 36C lot #547
[10] https://en.wikipedia.org/wiki/Birmingham_Mint
[11] http://www.sothebys.com/en/auctions/ecatalogue/2012/judaica-n08922/lot.172.lotnum.html
[12] Blog post by Kobi Liderman: http://kobiliderman.blogspot.co.il/2013/11/blog-post_8371.html
[13] "Israel Museum Receives Specimen 25 Pruta Coin" - from The Shekel Vol 6 No. 2
[14] http://www.globes.co.il/news/article.aspx?did=1000452804