1 dollar 1974

Common. Despite being the first-series note of an independent nation's central bank, this denomination has not proven scarce or rare in the collector market. eBay transaction data spanning over a decade shows consistent trading activity with most raw examples selling in the $2–$20 range, and PMG-graded examples (PMG 65–67) typically realizing $35–$95. The PMG 66 EPQ grade represents the upper echelon of common examples rather than a scarce variant, and while it commands a premium above lower grades, the regular appearance of comparable specimens at auction indicates steady availability.

Issued under the Central Bank of the Bahamas Act of 1974, this note marks the establishment of the Bahamian central banking system and the nation's monetary independence following the transition from colonial currency. The obverse portrait of Queen Elizabeth II reflects the Bahamas' status as a Commonwealth realm at the time of issue, while the reverse's sea garden imagery—featuring the tropical marine flora and fauna of the Caribbean—symbolizes the islands' natural wealth and cultural identity. The note was printed by De La Rue & Company Limited, London, underscoring the professional standards applied to this inaugural currency series.

The obverse features a left-facing profile portrait of Queen Elizabeth II wearing formal regalia and jewelry, positioned within an oval frame of ornamental circular designs and wavy decorative borders rendered in green and teal inks. The $1 denomination appears in all four corners in serif numerals. A watermark portrait visible in the background provides security authentication. The reverse depicts an elaborate sea garden scene with multicolored marine life including tropical fish, coral formations, sea anemones, and aquatic plants rendered in yellows, greens, blues, purples, reds, and oranges. The Bahamian coat of arms with shield and supporters is positioned on the right side, with floral ornamental elements balancing the composition on the left. All inscriptions use a clear, sans-serif typeface appropriate to the formal currency standard.

Front: 'THE CENTRAL BANK OF THE BAHAMAS' (issuing authority); 'THESE NOTES ARE LEGAL TENDER UNDER THE CENTRAL BANK OF THE BAHAMAS ACT 1974 FOR THE PAYMENT OF ANY AMOUNT' (legal tender declaration); 'ONE DOLLAR' (denomination); Serial number designation (H/1 144103); 'T.B. Donaldson' (Governor's signature); 'Governor' (title). Back: 'THE CENTRAL BANK OF THE BAHAMAS' (issuing authority); 'ONE DOLLAR' (denomination); 'SEA GARDEN' (reverse design identification); 'ENGRAVED & PRINTED BY DE LA RUE & COMPANY LIMITED' (printer attribution).

Intaglio engraving and multicolor offset lithography, executed by Thomas De La Rue & Company Limited of London. The fine line engraving visible throughout the design—particularly in the portrait, borders, and marine illustration—demonstrates the high-security intaglio standard characteristic of professional currency production. The vivid, layered color printing on the reverse required multiple printing passes to achieve the detailed marine scene with precise color registration.

This specimen is identified as Pick P-35a (standard variety). The PMG Population Report indicates two catalogued variants exist for the 1 dollar 1974: P-35a (standard) and P-35a* (starred, typically indicating a replacement note with asterisk prefix). The observed serial number prefix 'H/1' with sequential numbering 144103 is consistent with standard circulation issue characteristics. Governor T.B. Donaldson's signature appears on this note, representing the first Governor of the Central Bank of the Bahamas.