Bermuda 5-Dollar Note wins 2024 IBNS Bank Note of Year Award
Bermuda’s striking new $5 bank note sails past global contenders to win top design prize.
The International Bank Note Society (IBNS) announces that its voting membership has selected the Bermuda Monetary Authority 5-Dollar note for the second time to receive its annual prestigious “Bank Note of the Year Award” for 2024.
With almost 100 new banknotes released worldwide during 2024, only 21 were deemed sufficiently new in design to be member-nominated. Almost from the onset of voting, the Bermuda $5 note was the overwhelming favorite.
The Bermuda Monetary Authority (Authority or BMA) “Oscar-winning banknote” was printed by De La Rue on polymer substrate (Safeguard). The front of this predominantly pink note with purple highlights features a blue marlin, dolphins, a tuna fish, and a profile of the new monarch, King Charles III. The back of the vertically designed note combines butterflies, flora, Horseshoe Bay, and a boat passing beneath Somerset Bridge.
The note was issued as part of the BMA’s “Same look, Smarter design” campaign, emphasizing Bermuda's currency's increasing durability and security. The advanced security features incorporated into the design include an Argentum™ tuna fish and Enhanced Gemini™ patterns that become visible under ultraviolet (UV) light. These new polymer banknotes feature half windows that are both fully and partially transparent, displaying a cloudy sky and an underwater scene visible from both sides of the note. Around these windows, security technologies such as ILLUMINATE™ and ROTATE™ are integrated within an iridescent ink design, which reveals dynamic elements—including waves, multiple fish, and a sun - when the note is tilted. The tactile markings embossed into the polymer help the visually impaired to easily identify the note, which is signed by Donald Scott (as Chairman) and Michael Leverock (as Director).
The new Bermuda bill's current exchange value equals $5 USD, 4.63 Euros, or 3.87 British Pounds as of the date of this announcement. The successful and colorful, eye-pleasing design combines sport fishing with an island motif. The 5-dollar note is similar in height but slightly shorter than U.S. greenbacks.
The first runner-up was Japan’s 1,000 Yen note, which features bacteriologist Kitasato Shibasaburo and “The Great Wave of Kanagawa.” The second runner-up was China’s 20 Yuan note, which features dragons and children. Rounding out the top five vote getters were the Philippines' 500 Piso note (Visayan spotted deer/parrot), and England’s 50 Pound note (King Charles III/Alan Turing).
From all significant newly designed and widely circulated banknotes released in 2024, the IBNS membership nominated notes from 21 countries to place on the ballot. Nominees represented four continents (Africa, Asia, Europe, and South America), Central America, the Middle East, and three island nations.
Winners of recent IBNS Banknote of the Year competitions are all miniature works of art representing their nation’s popular themes. These winners ideally help provide a superb template as countries consider how they will eventually design and promote their own new banknotes. Polymer banknotes are popular IBNS favorites and have become perennial award winners. Vertical orientation seems favored, with eight of the last ten winners vertically formatted.
Past “Bank Note of the Year” winners include East Caribbean States (2023), Philippines (2022), Mexico (2021 & 2020), Aruba (2019), Canada (2018), Switzerland (2017 & 2016), New Zealand (2015), Trinidad & Tobago (2014), Kazakhstan (2013, 2012 & 2011), Uganda (2010), Bermuda (2009), Samoa (2008), Bank of Scotland (2007), Comoros (2006), Faeroe Islands (2005) and Canada (2004).
A full color image of this and other nominated banknotes is on the IBNS website. https://www.theibns.org/bnoy2024
About the International Bank Note Society
The International Bank Note Society (IBNS) was founded in 1961 and is a non-profit educational organization that promotes, stimulates, and advances the study and knowledge of worldwide banknotes and paper currencies along educational, scientific, and historical lines.
The IBNS is open to membership from interested people in any country. Members receive a quarterly printed journal containing articles on many different topics related to paper money and details of new banknote issues. There are around 2,000 IBNS members in more than 90 countries. Learn more at https://www.theibns.org.
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