20 Dollars Jamaica act, with red circles

The P#72 series ran for an unusually long stretch — over a decade and a half — during which Jamaica endured severe currency depreciation. The Jamaican dollar lost roughly 90% of its value against the US dollar between 1985 and 1999, yet the denomination structure changed slowly, leaving the 20-dollar note doing progressively less transactional work as the period wore on.

The "red circles" designation in this catalog refers to a specific overprint variation distinguishing it within the P#72 type — worth tracking carefully, as unmarked examples and circle-overprint examples are frequently conflated in general listings.