Palestine - Tel Aviv - Palatin Hotel - 1 Piastre Substitute-Money Token, 1930s - NGC AU 58 - Hafner-CC-5D

Palestine - Tel Aviv - Palatin Hotel - 1 Piastre Substitute-Money Token, 1930s - NGC AU 58 - Hafner-CC-5D A 1 Piastre substitute-money token issued for the Palatin Hotel in Tel Aviv, dating from the 1930s. Private tokens of this type were used by businesses and institutions in Palestine as substitutes for small-denomination currency. Palatin Hotel tokens are scarce, and the present example is particularly well preserved, certified by NGC as AU 58. Obverse: The inscription: "PALATIN HOTEL" arranged around a small central ornament. Reverse: The denomination: "1P" within a beaded border. The Palatin Hotel stood at the corner of Ahad Ha'am and Nahalat Binyamin streets in Tel Aviv. Opened in 1926, it was considered one of the city's leading, modern and luxurious hotels. It contained approximately 60 rooms, a concert hall and entertainment facilities. The hotel business suffered during the 1936-1939 Arab Revolt, and the hotel closed in 1938. The building was subsequently adapted mainly for commercial and office use. During World War II, it was also used for activities connected with Allied servicemen. Certified and graded by NGC as AU 58. Holder label: "(UNDATED) PALESTINE TOKEN HAFNER-CC-5D "1P" PALATIN HOTEL AU 58" Certification No.: 8448051-029.