50 Dollars - Elizabeth II

Bermuda's 1970 issue marked the transition from the old Bermuda pound to decimal dollars, fixed at one dollar to one former shilling — a rate that required careful management given the territory's almost total dependence on tourism and offshore finance rather than a productive domestic economy. The Bermuda Monetary Authority was established specifically to oversee this changeover, making P#27 one of the earliest notes it ever issued.

De La Rue's production for this series is clean but relatively spare on security — watermark only, no security thread. Later BMA issues would add considerably more.