Bermuda
(British Overseas Territory)
Bermuda Monetary Authority (Est.1969)
Currency - Dollar (BMD)
Here are the two polymer notes released during the second week of November 2024. In 2009, Bermuda became the first country to issue a complete set of Hybrid banknotes with denominations of $2, $5, $10, $20, $50 and $100. These Hybrid notes were printed by De La Rue (DLR). Is DLR abandoning their Hybrid banknote technology? Few countries adopted Hybrid banknotes over the last 10 years or so, and these have since been replaced, mostly with polymer notes. Given that DLR's Hybrid notes were first introduced more than 10 years ago, it appears that they are not that popular and most countries that have issued Hybrid notes are mostly from small countries, mostly from the Pacific nations. Bermuda is now one of the very few countries that have their banknotes printed on paper, hybrid and now polymer substrate material.
It is obvious that these two polymer notes replaced the 2009 Hybrid series. The main features of these two polymer notes are the same as those hybrid notes first introduced in 2009 but with advanced security features thus making these more secure. As these are both printed on polymer substrate, they both come with a transparent window as expected for all polymer notes.
Like the previous Hybrid series printed with the effigy of Queen Elizabeth, and since the demise of the queen in 2022, the effigy of King Charles III is now used instead and is printed in the bottom left corner. This is the first time King Charles III's bust is printed on a banknote outside the United Kingdom. Unlike a few countries around that world that still have the British monarch as their Head of State, Bermuda continues to print their banknotes with the image of the British monarch, as Bermuda is a British Overseas Territory. A British Overseas Territory is not an independent nation, but it has it's own government. However, it's external affairs, defense and security are the responsibility of the British government.
An interesting fact about Bermuda is that it was named after a Spanish sailor called Juan de Bermudez, who discovered the islands in 1505 while sailing from Spain to the Caribbean on a provisioning voyaging journey. At the time of the discovery, it appears that the islands were uninhabited by any natives. As of 2023, Bermuda has a population of approximately 63,500 people.
If you are a collector and have been following these two notes, you will notice that they are selling quite expensive in the market. The Bermuda dollar is at par with the US dollar and yet they are selling 6 to 9 times the face value. It appears that the authority in Bermuda is discouraging or preventing their currency from exporting and as such there are not that many available in the market. Given that these are polymer notes and the growing demand in this hobby, the demand just simply exceeded the supply and as such the high price tag. Even those circulated polymer notes are also selling at a very high price too. In addition to the polymer series, those current or latest Hybrid series are also commanding a fairly high price too.
Whilst these are the two latest polymer notes issued by the bank, it is not sure if the remaining notes will follow suit.
Chairman - Donald A.M. Scott (since 2021)
Director - Philip Butterfield
Date - 20 February 2024
Dimensions - 69mm x 141mm
Front - The main feature is a Bermuda Bluebird. King Charles III's effigy is printed in the lower left corner, replacing the late Queen Elizabeth in the previous series. The Plumeria rubra flowers are printed in the background. On top of the note is a reflective, mirror-like image of a tuna fish. On the transparent window is a partially see-through window, showing a cloudy sky above water and an underwater scene. The letters of BMA are also printed on the transparent window area. Two sail boats are sailing in the open sea. A triangle raise dots of 14 is added to the note to assist with those visual impairments.
I personally still find it strange to have the image of the British monarch King Charles III printed in the bottom left of the note instead in the top left or right corner, just like those postage stamps.
Back - Dockyard's Clock tower. I believe this Dockyard's Clock tower is located in the Clock Tower Shopping Mall in Ireland Island. Next to the tower is a statue of Neptune at the Bermuda Maritime Museum. In the background is the Clocktower Mall. On the transparent window area, a hibiscus flower is added to the design. On top of the transparent window is a small butterfly in pink and blue colours.
Chairman - Donald A.M. Scott (since 2021)
Director - Karel Van-Hulle
Date - 20 February 2024
Dimensions - 69mm x 141mm
Front - The main feature is a Blue marlin leaping out of the water. King Charles III's effigy is printed in the lower left corner, replacing the late Queen Elizabeth in the previous series. In the background are the Easter Lily flowers. On top of the note is a reflective, mirror-like image of a tuna fish. On the transparent window is a partially see-through window, showing a cloudy sky above water and an underwater scene. The letters of BMA are also printed on the transparent window area. Three dolphins leaping out of an open sea. A circular raised dot of 12 is added to the note to assist with those visual impairments.
Back - Somerset bridge, connecting the islands of Somerset Island and the Main Islands (Great Bermuda). This is a hand drawn bridge and is the smallest in the world. When the bridge is opened, it creates a gap of 32-inch to allow the passage of a sailboat's mast. Above that is a view of Horseshoe bay beach. On the transparent window area, a hibiscus flower is added to the design. On top of the transparent window is a dolphin added to the design as a registration feature.
