20 Dollars - Elizabeth II Small holographic 20

The Bermuda Monetary Authority was established in 1969 specifically to manage Bermuda's currency independently of the Eastern Caribbean system, and this series reflects the mature infrastructure of that arrangement — De La Rue printing, full security package, the works. What distinguishes P#53A from the earlier P#53 within the same date range is the reduced hologram size, a mid-series security upgrade that De La Rue rolled out across several client issuers in the early 2000s as foil technology advanced and larger holograms proved more susceptible to convincing simulation.

The cotton substrate is standard for the printer and period, though Bermuda's high-humidity circulation environment means genuinely uncirculated examples are harder to source than the relatively short print run might suggest.