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500 Ngultrum National Day
| Issuer | Royal Monetary Authority of Bhutan |
|---|---|
| Year | 1994 |
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| Printer | Thomas De La Rue & Company Limited |
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| Obverse description | Portrait of King Ugyen Wangchuck at right, rendered in intaglio against a red-toned guilloche underprint. The central vignette presents a pair of facing dragons flanking the royal crest, with an ornate Celtic-style roundel to the left. Dzongkha inscriptions appear along the top and bottom margins, with the denomination "500" repeated at lower left and lower right. |
|---|---|
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| Reverse description | Central vignette presents a detailed view of Punakha Dzong, the historic fortress-palace, set within a landscaped riverine environment rendered in red intaglio on a light guilloche ground. The legend "ROYAL MONETARY AUTHORITY OF BHUTAN" arches across the top of the note, with "PUNAKHA DZONG" inscribed below the vignette. The denomination "FIVE HUNDRED NGULTRUM" and its Dzongkha equivalent appear along the lower margin, flanked by numeral 500 at each corner. |
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| Comments |
The Royal Monetary Authority issued this note to commemorate Bhutan's National Day — December 17th, marking the 1907 enthronement of Ugyen Wangchuck as the first hereditary Druk Gyalpo. Commemorative high-denomination issues of this kind from Bhutan in the 1990s were produced in limited quantities and saw negligible commercial circulation, functioning largely as collector pieces from issue.
De La Rue's involvement was longstanding with Bhutanese currency going back to the earliest RMA issues of the 1970s. The watermark remains the sole listed security feature — modest even by mid-1990s standards for a 500-unit note.