The easiest way to read Israeli coin dates is to look up the date conversion table printed in Krause at the beginning of the Israel section. If you don't have a Krause or if you simply prefer doing things the hard way, I wrote a little tutorial on how to translate the dates in
this old thread.

Oh, and the year on this coin is (5)720 Jewish Era, or AD 1960, the first year of issue of this design; it's actually a slightly scarce year. There are three varieties with this date; yours appears to be the least scarce, but it should still worth at least a few dollars in that condition.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis