Banknote of 2024 Nominations

Nominations closed 31st January 2025

The International Bank Note Society (IBNS) announces that its voting membership has for the second time selected the Bermuda Monetary Authority 5-Dollar note to receive its annual prestigious “Bank Note of the Year Award” for 2024. With almost 100 new banknotes released worldwide during 2024, only 21 were deemed of sufficiently new design to be member nominated. Almost from the onset of voting the Bermuda $5 note was the overwhelming favorite.

The Bermuda Monetary Authority (BMA) “Oscar winning banknote” was printed by De La Rue on polymer substrate (Safeguard).  The front of this predominantly pink note with purple highlights features a blue marlin, dolphins and tuna fish as well as a profile of new monarch King Charles III.  The back of the vertically designed note combines butterflies, flora, Horseshoe Bay, and a boat passing beneath Somerset Bridge.

The note was issued as part of the BMA’s “Same look, Smarter design” campaign which emphasized the increasing durability and security of Bermuda’s currency. Although there is no watermark or security thread, other advanced security features include an Argentum tuna fish and enhanced Gemini patterns visible under UV light. The tactile markings help the visually impaired to easily identify the note which is signed by Donald Scott (as Chairman) and Karel Van Hulle (as Director).

The current exchange value of the new Bermuda bill equals $5 USD, 4.63 Euros or 3.87 British Pounds as of the date of this announcement. The successful and colorful eye-pleasing design combines sport fishing with and an island motif. The 5 Dollar note is similar in height but slightly shorter than U.S. greenbacks.

The first runner-up was Japan’s 1,000 Yen note which features bacteriologist Kitasato Shibasaburo and “The Great Wave of Kanagawa.” The second runner-up was China’s 20 Yuan note which features dragons and children. Rounding out the top five vote getters were Philippines 500 Piso note (Visayan spotted deer/parrot), and England’s 50 Pound note (King Charles III/Alan Turing).

From all significant newly designed and widely circulated banknotes released in 2024, the IBNS membership nominated notes from 21 different countries to place on the ballot. Nominees represented 4 different continents (Africa, Asia, Europe and South America), Central America, the Middle East, and 3 island nations.

Winners of recent IBNS Banknote of the Year competitions are all miniature works of art that represent their nation’s popular themes. These winners ideally help provide a superb template as countries consider how they eventually design and promote their own new banknotes. Polymer banknotes continue to be popular IBNS favorites and have become perennial award winners. Vertical orientation seems favored with 8 of the last 10 winners being vertically formatted.

Past “Bank Note of the Year” winners include East Caribbean States (2023), Philippines (2022), Mexico (2021 & 2020), Aruba (2019), Canada (2018), Switzerland (2017 & 2016), New Zealand (2015), Trinidad & Tobago (2014), Kazakhstan (2013, 2012 & 2011), Uganda (2010), Bermuda (2009), Samoa (2008), Bank of Scotland (2007), Comoros (2006), Faeroe Islands (2005) and Canada (2004).

IBNS Members have produced a guide covering the Bank Note of 2024 nominations in greater detail. Explore the visible security features of each of the notes; Iridescent inks, watermarks, security strips and holographic features, as well as the Ultraviolet features. Download a copy to learn more about the nominations.