New $2 and $5 notes to enter circulation
The Bermuda Monetary Authority is to embark on a “Same look, smarter design” campaign to educate the public on the circulation of new $2 and $5 banknotes.
The new polymer notes are printed by De La Rue on Safeguard polymer substrate, a thin, flexible plastic material and will enter circulation this fall, the BMA said.
It said the new banknotes will maintain the familiar appearance of the existing $2 and $5 notes, which are traditionally printed on cotton.
It added: “They will feature advanced security details, including an Argentum tuna fish and enhanced Gemini patterns visible under UV light.
“The Argentum security feature is a specialist silver ink that allows mirror-like free-form shapes on the final banknote.
“These polymer notes will also be among the first to showcase King Charles III’s effigy, following the passing of Queen Elizabeth II.”
• More secure: the new banknotes feature half-windows that are fully and partially transparent, depicting a cloudy sky and an underwater scene viewable from both sides
• Surrounding these windows, security features such as Illuminate and Rotate are fully integrated into the iridescent ink design of waves, multiple fish, and a sun, that appear when the notes are tilted
• More resistant to dirt and moisture, increasing the quality of the banknotes in circulation
• Expected to last at least 2½ times longer than the existing banknotes, making them a more sustainable solution
• The new notes feature tactile dots to assist the visually impaired in identifying and distinguishing between banknotes.
The $2 banknote has embossed dots in the shape of a triangle, while the $5 banknote has dots in the shape of a circle.
Residents can refer to the BMA’s social-media platforms and website for additional information and educational materials.
They include:
• BMA website: www.bma.bm/polymernotes
• Instagram: www.instagram.com/bermudamonetary
• LinkedIn: bm.linkedin.com/company/bermuda-monetary-authority
Craig Swan, chief executive of the BMA, said: “The introduction of the new $2 and $5 polymer banknotes in Bermuda is a significant step forward towards increasing the durability and security of our currency.
“This shift not only demonstrates our commitment to embracing advanced technology but also aligns with our sustainability goals by reducing the environmental impact of our banknotes.
“The new banknotes will also be accessible to more Bermudians, as they are more user-friendly for individuals who are visually impaired.
“We are pleased to provide this advancement to the public, and we look forward to the benefits it will bring to our financial system.”
Terry Pitcher, director of finance and currency operations at the BMA, said: “Today marks a milestone in our history as we issue polymer banknotes in Bermuda for the very first time.
“The authority’s goal in introducing these polymer banknotes is to provide cash that Bermudians can continue to use safely and confidently.”
He said in the weeks ahead, the BMA will continue to share information with government cashiers, the Bermuda Police Service, vendors, cash handlers, retailers, financial institutions and other community organisations about the new security features of the new banknotes.
Ruth Euling, managing director of currency at De La Rue, said: “Congratulations to the Bermuda Monetary Authority on the launch of their new $2 and $5 polymer banknotes.
“It has been a real privilege to design and deliver the new polymer banknotes, and we are grateful for the trust granted to De La Rue.”
In the days ahead, the BMA said, residents should expect to receive a postcard in the mail with visuals of the banknotes’ features and relevant supporting information.
• For more queries and more information, contact the BMA Currency team at currency@bma.bm
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