50 Cents - Elizabeth II

The Bahamas Government series of 1965 was the last issue under direct colonial financial authority before the Islands gained internal self-government in 1964 — and yet the notes were printed well after that transition, creating an odd constitutional lag where the issuer name on the paper no longer matched the political reality on the ground. De La Rue produced the series to a high technical standard, as was routine for their Caribbean and colonial work of the period.

The 50 Cents denomination is the scarcest in the series by surviving population. Low-value fractional notes tend to circulate harder and longer than higher denominations, and Bahamian tourism-driven cash handling in the mid-1960s was punishing on small notes.