1 dollar 1975

Common. Despite being the first issue of an independent Bermudian currency (1 July 1975), this note entered widespread circulation and had substantial print runs. The secondary market data shows consistent availability with UNC examples selling between $35-$75 in recent years (catalog value $35 for UNC as of 2019), and numerous examples graded by PMG indicating healthy population figures. The existence of multiple variants (P-28a through P-28d) across the 1975-1988 date range further suggests large quantities were produced. Modern common circulation means most examples remain available to collectors.

This note was issued on 1 July 1975 by the Bermuda Monetary Authority, marking the establishment of Bermuda's independent currency system following monetary reform. The obverse features Queen Elizabeth II, reflecting Bermuda's status as a British Overseas Territory, while the reverse depicts a traditional Bermudian sailing vessel and colonial-era buildings in Hamilton, emphasizing the nation's maritime heritage and administrative center. The inscription 'ISSUED UNDER THE AUTHORITY OF THE BERMUDA LEGISLATURE' underscores the local authority's sovereignty in currency issuance at this pivotal moment in Bermuda's monetary independence.

The obverse features a formal portrait of Queen Elizabeth II positioned on the right side, depicted in three-quarter profile facing right, wearing pearls and formal state attire. The left-center of the note displays the Bermuda coat of arms within a square frame, featuring a lion and shield with Latin text, symbolizing official authority. The center-upper portion showcases a Bermuda longtail (cahow), the national bird, rendered in fine detail. The design is framed by ornate decorative floral motifs and geometric patterns in all corners, with dollar sign symbols ($) prominently displayed. The reverse depicts a traditional Bermudian sailing vessel with multiple sails and period figures aboard, set against a maritime scene with water. In the upper right corner, colonial-era government buildings in Hamilton are shown with distinctive towers and spires, representing the capital's administrative significance. The entire design employs fine line engraving with sophisticated guilloché background work.

Front Side: 'BERMUDA MONETARY AUTHORITY' (issuing authority); '1ST JULY 1975' (issue date); 'ONE DOLLAR' (denomination); 'ISSUED UNDER THE AUTHORITY OF THE BERMUDA LEGISLATURE' (legal authority statement); 'CHAIRMAN' and 'MANAGING DIRECTOR' (signature titles); '$1' (denomination symbols in corners); Serial number 'A 882736' (appears twice, top right and bottom right). Back Side: 'BERMUDA MONETARY AUTHORITY' (issuing authority); 'ONE DOLLAR' (denomination); '$1' (denomination symbols in decorative frames).

Steel engraving (intaglio printing) throughout, evidenced by the fine line work, detailed guilloché patterns, and the precision of both portraits and architectural elements. The multiple security denominators and detailed decorative elements are characteristic of high-security banknote production. The printer for this series is not definitively confirmed from the visual analysis alone, though Bermuda's early currency notes were typically produced by established British or international security printers such as De La Rue or Bradbury Wilkinson.

This is identified as Pick 28a, the first variety of the 1975 Bermuda 1 Dollar series. The PMG population report indicates seven catalogued variants for this base Pick number (P-28a, P-28b, P-28b*, P-28c, P-28d, P-28d*, P-28s), with variations likely including signature changes, date variants, and security feature modifications across the 1975-1988 issuing period. The watermark is identified as a tuna fish. The serial number prefix 'A' and the issue date of 1ST JULY 1975 confirm this as the earliest variety (P-28a) from the initial release.