Egypt - 1 Egytian Pound - P-30 - 1960 dated Foreign Paper Money

1 Pound, P-30. Front and back shown. At the dawn of the 19th century, Egypt and Turkey utilized a shared currency known as the Ottoman piastre, which was subdivided into 40 paras. However, under the leadership of Muhammad Ali, Egypt began to produce its own currency. By 1834, when Egypt had achieved nominal independence from Ottoman authority, a decree was enacted that established a distinct Egyptian monetary system. This system was based on a bimetallic standard of silver and gold, anchored by the Maria Theresa thaler, which was valued at 20 piastres. The Maria Theresa thaler was widely recognized as a significant silver trade coin in the region during that period. Following this monetary reform, Egypt introduced a gold coin called the bedidlik, equivalent to 100 piastres, along with a silver rial coin valued at 20 piastres, corresponding to the Maria Theresa thaler. In 1839, the piastre was defined to contain 1.146 grams of silver, while the British gold sovereign was valued at 97.5 piastres. Although the terms "100 Egyptian piastres" and "bedidlik" were commonly referred to as a pound in English-speaking contexts, this was not the primary unit in the newly established Egyptian monetary system of 1834. The term "Egyptian pound" first appeared in 1884 on a £50 promissory note signed by General Gordon during the Siege of Khartoum, but it was not until 1885 that this unit of account was officially recognized.