Logo Title
obverse
reverse
Israel Coins and Medals Corp.

2 New Sheqalim – Israel

Non-circulating coins
Commemoration: Flora and Fauna from the Song of Songs - The Roe and Lily of the Valleys
Israel
Context
Year: 1993
Hebrew Year: 5753
Issuer: Israel Issuer flag
Period:
(since 1948)
Currency:
(since 1986)
Total mintage: 4,724
Material
Diameter: 38.7 mm
Weight: 28.8 g
Silver weight: 26.64 g
Shape: Round
Composition: 92.5% Silver
Magnetic: No
Technique: Milled
Alignment: Medal alignment
Obverse
OBVERSE ↑
flip
Reverse
REVERSE ↑
References
KM: #Click to copy to clipboard232
Numista: #81661
Value
Exchange value: 2 ILS = $0.64
Bullion value: $74.68
Inflation-adjusted value: 5.68 ILS

Obverse

Description:
Face value in Hebrew and English: 1 New Sheqel on the silver B.U. and 18mm gold coin; 2 New Sheqalim on the silver proof; 5 New Sheqalim on the 22mm gold coin. To the right of the value is the Israel State Emblem, to the left a Lily of the Valleys. "ISRAEL" appears in Hebrew, Arabic, and English with the quote "lily of the valleys" and its source "Song of Songs 2:1" in Hebrew and English.
Inscription:
lily of the valleys • שושנת העמקים

song of songs 2,1 שיר השירים ב,א

2

מ

שקלים חדשים

NEW SHEQALIM

ISRAEL • ישראל • اسرائيل
Translation:
Lily of the valleys • The rose of the valleys.

Song of Songs 2,1 Song of Songs 2,1

2

m

New Sheqalim

NEW SHEQALIM

ISRAEL • Israel • Israel
Scripts: Arabic, Hebrew, Latin
Languages: English, Arabic, Hebrew

Reverse

Description:
A roe in a flower field. The border bears the biblical quote "LIKE TO A ROE" (Song of Songs 8:14) in Hebrew and English, with the year 1992 / 5753.
Inscription:
1992 התשנ"ג LIKE A ROE (song of songs 8:14)

(ודמה–לך לצבי (שיר השירים ח,יד
Translation:
1992 THE YEAR 1993 LIKE A ROE (SONG OF SONGS 8:14)

(AND BE LIKE A ROEBUCK (SONG OF SONGS 8:14)
Scripts: Hebrew, Latin
Languages: English, Hebrew

Edge

Milled

Mints

NameMark
Monnaie de Paris

Mintings

YearMint MarkMintageQualityCollection
19934,724Proof

Historical background

In 1993, Israel's currency situation was characterized by a managed float of the New Israeli Shekel (NIS), which had replaced the hyper-inflated old shekel in 1985 as part of a comprehensive stabilization plan. The Bank of Israel actively intervened in foreign exchange markets to control volatility and maintain a stable and competitive exchange rate, primarily against the US dollar. This stability was a hard-won achievement, as the economy was still in a transitional phase from the triple-digit inflation of the early 1980s, with price increases now subdued to an annual rate of roughly 10-11%. The shekel's value was thus a critical anchor for economic confidence and growth.

The period was also defined by the ongoing process of economic liberalization, including the gradual removal of foreign exchange controls. Just two years prior, in 1991, a major step was taken with the introduction of the "Pazak" (Foreign Currency Account) system, allowing Israeli citizens and companies to hold and transact in foreign currency freely for the first time in decades. By 1993, this increased convertibility was integrating Israel more fully into the global financial system, facilitating foreign investment and trade, which were seen as vital for the expanding economy.

Furthermore, the currency environment in 1993 was indirectly influenced by the geopolitical optimism following the signing of the Oslo Accords in September of that year. The prospect of peace spurred significant inflows of foreign capital and boosted economic projections, placing upward pressure on the shekel. The Bank of Israel faced the dual challenge of preventing excessive appreciation that could harm exports while maintaining the anti-inflationary discipline that was the cornerstone of the post-1985 economic policy. This delicate balancing act defined the monetary landscape as Israel navigated both economic modernization and a changing political reality.

Series: Biblical Wild Life

2 New Sheqalim obverse
2 New Sheqalim reverse
2 New Sheqalim
1993
5 New Sheqalim obverse
5 New Sheqalim reverse
5 New Sheqalim
1993
1 New Sheqel obverse
1 New Sheqel reverse
1 New Sheqel
1993
2 New Sheqalim obverse
2 New Sheqalim reverse
2 New Sheqalim
1993
1 New Sheqel obverse
1 New Sheqel reverse
1 New Sheqel
1993
1 New Sheqel obverse
1 New Sheqel reverse
1 New Sheqel
1994
5 New Sheqalim obverse
5 New Sheqalim reverse
5 New Sheqalim
1994
💎 Very Rare