50 Dollars - Elizabeth II

The Bermuda Monetary Authority was established in 1969, replacing the Bermuda Government as the note-issuing body and breaking from the direct Treasury issuance model the island had used since the 1920s. This 50 Dollar note falls within the first generation of BMA issues — a high denomination for a jurisdiction whose economy at the time was still heavily oriented around tourism and offshore insurance rather than the deep financial services sector that would later dominate.

De La Rue's watermark security on this series is relatively minimal by the standards of comparable Commonwealth issues of the period. The 50 Dollar was the ceiling denomination for the series, and high-value notes from small-circulation jurisdictions like Bermuda tend to survive in better condition simply because few ever left bank vaults.