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20 Dollars Horizontal ships

Issuer Central Bank of the Bahamas
Year 1993
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Composition Cotton paper
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Obverse lettering THE CENTRAL BANK OF THE BAHAMAS THESE NOTES ARE LEGAL TENDER UNDER THE CENTRAL BANK OF BAHAMAS ACT 1974 FOR THE PAYMENT OF ANY AMOUNT TWENTY DOLLARS Governor $20 SIR MILO B. BUTLER
Reverse description Red and black intaglio print on a multicolour guilloche underprint; a central vignette presents four cruise ships moored horizontally in Nassau Harbour, rendered in fine line engraving. The Coat of Arms of the Bahamas together with the bank logo appear at right, an anchor device is placed at lower left, and the watermark window is reserved at left.
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Comments

Pick 54 belongs to the Bahamas' second major definitive series, introduced following the country's shift away from the imagery-heavy notes of the 1970s toward a cleaner, more internationally legible design language. Thomas De La Rue had been the Bahamas' printer of choice across multiple series by this point, and the relationship showed — the registration on these notes is tight, the color separation precise.

For a $20 denomination, the security specification is notably lean. A watermark alone, with no security thread, places this issue behind contemporaneous regional peers. Whether that reflected a budget decision or an assessment of local counterfeiting risk is not documented in the Bank's published record.