Syria Banknotes: History, Notable Notes and Collecting Guide
Few modern currencies carry more history on their paper than the Syrian pound. A single national money runs from French Mandate notes shared with Lebanon to the towering denominations printed during a long civil war, which is exactly what makes Syrian notes such a compelling country to collect.
Last updated: July 2026
The Syrian pound, also called the lira, is the national currency of Syria, issued today by the Central Bank of Syria and divided into 100 piastres. What makes its banknotes collectible is history rather than face value: a single country's paper runs from French Mandate issues once shared with Lebanon, through the founding notes of an independent republic, to the towering denominations printed during the civil war that began in 2011. This guide walks through those eras, the notes collectors seek, and how to start a Syria collection.
What is the history of the Syrian pound?
The pound's story begins under the French Mandate. After the First World War and the collapse of the Ottoman Empire, the League of Nations placed Syria under French administration in 1920. A French-affiliated institution, the Banque de Syrie et du Liban, or Bank of Syria and Lebanon, was granted the right to issue paper money for both territories, and the resulting pound was tied to the French franc. Those mandate notes were bilingual, printed in Arabic and French, and circulated across what are now two separate countries.
Syria gained full independence in 1946 and, over the following years, built its own monetary institutions. The Central Bank of Syria was founded in 1953 and began operations in 1956, taking over note issuance from the mandate-era bank. Through the second half of the twentieth century the pound was a relatively stable currency, and its notes carried images of Syria's ancient heritage, including the ruins of Palmyra, the Roman theater at Bosra, the Umayyad Mosque in Damascus, and the wooden waterwheels of Hama.
The pound's modern story is dominated by the civil war that began in 2011. Before the war, the pound was relatively stable against the US dollar. Over the following years, sanctions, lost oil revenue, and the destruction of much of the economy drove a severe collapse in the currency's value. According to the World Bank, the Syrian pound depreciated dramatically over the conflict, losing the overwhelming majority of its value against the dollar. To keep pace, the Central Bank of Syria issued ever-larger denominations, including a 2,000-pound note in 2017 and a 5,000-pound note in 2021. The war reached a turning point in December 2024, when the Assad government fell after nearly fourteen years of fighting, and Syria's currency now enters a new and uncertain chapter. Syria's decline was severe, but it is generally described as a wartime currency collapse rather than counted among the record hyperinflations of the modern era. For where the worst cases sit, see every hyperinflation ranked.
What are French Mandate-era Syrian banknotes?
The earliest and most collected Syrian paper comes from the French Mandate period, roughly 1920 to 1946. These notes were issued not by a Syrian state bank but by the Banque de Syrie et du Liban, the French-affiliated bank of issue for both Syria and Lebanon. Because the two countries shared a currency and a bank, mandate-era notes are usually bilingual in Arabic and French and often name both territories on the same piece of paper. Collectors prize them for their age, their fine European engraving, and the way a single note captures a moment when modern Syria and Lebanon were still one monetary zone. Well-preserved mandate notes are among the scarcest and most desirable Syrian material a collector can hold.
What are the most collectible Syrian banknotes?
The most sought-after Syrian notes are the ones tied to a turning point: the French Mandate issues, the founding notes of an independent republic, the attractive heritage designs of the later twentieth century, and the high denominations that document the war-era collapse. The table below groups the main eras a collector will encounter.
| Era or note | Period | Hallmark | Why collectors want it |
|---|---|---|---|
| Banque de Syrie et du Liban issues | 1920 to 1946 | French Mandate notes, bilingual in Arabic and French, issued for Syria and Lebanon together | The earliest and scarcest Syrian paper, and the hardest to find well preserved. |
| Early republic and Central Bank issues | 1950s to 1970s | First notes of a sovereign Syria; issuance passes to the Central Bank of Syria | The founding paper of the modern independent pound. |
| Heritage-design circulation notes | late 1900s to 2000s | Depict Syria's ancient sites, from Palmyra and Bosra to the Umayyad Mosque and the waterwheels of Hama | Attractive, affordable, and widely available, an ideal starting point. |
| Wartime high denominations | 2017 to 2021 | The 2,000-pound note of 2017, the first Syrian note to bear President Bashar al-Assad's portrait, and the 5,000-pound note of 2021 | The paper record of the war-era devaluation. |
The wartime high denominations are the notes most tied to recent headlines. As the pound fell, the Central Bank of Syria introduced larger notes to keep pace: the 2,000-pound note of 2017, the first Syrian banknote to feature President Bashar al-Assad, and the 5,000-pound note of 2021. Set beside a French Mandate note from the 1930s, these later issues capture the whole arc of Syrian money.
How do you start collecting Syrian banknotes?
Start by deciding which chapter of the story you want to hold. A single well-chosen note from each era, a French Mandate issue, an early Central Bank note, a heritage design, and a war-era high denomination such as the 2,000 or 5,000 pound, tells the whole story for very little money. Many of the later notes survive in bundles and reach the market in crisp Uncirculated condition, the top of the grade ladder that runs UNC, AU, XF, VF, F, VG, G. Mandate-era notes are far scarcer and usually circulated, so condition and authenticity matter more. For independent confirmation, look for notes graded by PMG or PCGS on the 1 to 70 scale. Our banknote grading guide explains what those numbers mean, and the banknote glossary defines the terms you will meet along the way.
Where can you buy Syrian banknotes?
Buy from a source-first dealer that documents where its notes come from and stands behind authenticity. Planet Banknote stocks Syrian pound notes across the mandate, early republic, heritage, and war eras rather than fixing a single market price, since inventory and grades change. You can browse the current selection here:
Every note passes our Planet Banknote Verified inspection and ships with a free Certificate of Authenticity, so you have documented recourse tied to a named, reachable business. Whichever era you start with, a Syrian note is a small, holdable piece of one of the most eventful monetary histories of the modern Middle East.
Frequently asked questions
What is the Syrian pound?
The Syrian pound, also called the lira, is the national currency of Syria, issued by the Central Bank of Syria and divided into 100 piastres. Its history began under the French Mandate, when a French-affiliated bank issued a shared currency for Syria and Lebanon, and it became a fully Syrian currency after independence in 1946. For collectors the appeal is historical: a single currency spans French Mandate notes, the founding issues of an independent republic, heritage designs, and the high denominations of the recent civil war.
What are French Mandate-era Syrian banknotes?
French Mandate-era Syrian banknotes are the notes issued between roughly 1920 and 1946 by the Banque de Syrie et du Liban, a French-affiliated bank that served as the bank of issue for both Syria and Lebanon. Because the two countries shared a currency, these notes are usually bilingual in Arabic and French and often name both territories. They are the earliest and most sought-after Syrian paper, prized for their age, their fine engraving, and the way they capture a period when Syria and Lebanon were a single monetary zone.
Why did the Syrian pound lose so much value?
The Syrian pound collapsed during the civil war that began in 2011. Sanctions, lost oil revenue, and widespread economic destruction drove the currency down from a pre-war rate of roughly 47 pounds to the US dollar. According to the World Bank, the pound depreciated dramatically over the conflict, losing the overwhelming majority of its value. To keep pace, the Central Bank of Syria issued larger notes, including a 2,000-pound note in 2017 and a 5,000-pound note in 2021. This was a severe wartime currency collapse rather than one of the record hyperinflations of the modern era.
Are Syrian banknotes legal to own and collect?
Yes. In the United States, foreign banknotes such as Syrian pound notes are legal to own and collect. Older and demonetized notes are no longer legal tender and cannot be spent, so their value comes entirely from collector demand. This is general information rather than legal advice, and rules differ by country, so check your local law if you are unsure.
Are Syrian banknotes a good investment?
Collectors buy Syrian banknotes for their history, not as an investment. The notes carry a remarkable story, from the French Mandate through independence to a long and destructive civil war, and Planet Banknote makes no prediction about future exchange rates. Buy these notes for the history they hold, and treat any change in value as a bonus rather than a plan.
Planet Banknote is a family-owned dealership in Sarasota, Florida, founded in 2021. Every note is sourced direct from mints, central banks, and authorized distributors, inspected through our Planet Banknote Verified process, and ships with a free Certificate of Authenticity. US orders ship free via USPS Priority, and every order includes a free bonus gift.