10 shillings 1937

Common. The eBay price history provided shows consistent sales in the $14–$43 range for F to VF grades over the past decade, with 2024 sales of F-grade notes at $23.52. The 2016 catalog valuation of $20 for VG and $150 for VF further confirms this is a regularly traded note with steady market availability. While the note is now 86 years old, the government of Bermuda issued these notes in sufficient quantity for normal circulation, and they remain relatively accessible to collectors. No evidence of limited print runs, recall operations, or short-issue periods suggests this is a standard, common issue.

Issued on May 12, 1937, during the reign of King George VI, this note represents Bermuda's monetary autonomy as a British colonial government authority. The imagery—featuring the monarch's portrait and the royal coat of arms with supporting lions—reflects Bermuda's constitutional status and allegiance to the British Crown during the inter-war period. The specific date of issue coincides with the early stabilization of George VI's reign following the abdication crisis of the previous year, making this an important artifact of early 20th-century Commonwealth monetary history.

The obverse features a formal portrait of King George VI in left profile, enclosed within an ornate oval medallion frame with decorative corner spandrels featuring floral motifs and guilloche work. Below the portrait is a vignette depicting Hamilton Harbor with tropical vegetation and maritime features, identifying the capital city and economic center of Bermuda. The reverse displays the heraldic coat of arms of Bermuda—featuring a shield with a lion and typical heraldic supporters—positioned centrally with the royal crown above. Flanking the arms are two scalloped circular cartouches containing the numeral '10' in bold, one on either side. The entire design employs elaborate ornamental borders with multi-layered guilloche patterns characteristic of high-security banknote design of the era.

Front side: 'BERMUDA GOVERNMENT' (issuer designation); 'BERMUDA NOTES ARE THE PAYMENT OF LEGAL TENDER FOR ANY AMOUNT' (legal tender declaration); 'TEN SHILLINGS' (denomination, appears twice); 'ISSUED UNDER THE AUTHORITY OF THE BERMUDA LEGISLATURE' (authority statement); Serial number: Z476774 (appears twice); 'G.R. Blaking, ASSISTANT COLONIAL TREASURER' (signatory); 'John Cunningham, COLONIAL TREASURER' (signatory); 'HAMILTON, BERMUDA, 12TH MAY, 1937' (place and date of issue); '10/-' (denomination abbreviation); 'BRADBURY, WILKINSON & CO. LTD., NEW MALDEN, SURREY, ENGLAND' (printer information). Back side: 'TEN SHILLINGS' (denomination); '10' (appears twice in scalloped circular frames). All inscriptions are in English.

This note was produced using intaglio (recess) engraving, the standard security printing method for banknotes of this period. Bradbury Wilkinson & Co. Ltd., one of the premier banknote printers of the British Commonwealth, employed fine line engraving with intricate cross-hatching and complex guilloche patterns throughout the design. These security features—evident in the visual analysis as detailed ornamental borders, fine line work in the portrait, and elaborate corner designs—served both aesthetic and anti-counterfeiting purposes. The red and multicolor overprint was applied using traditional letterpress or offset techniques over the base engraved design.

This note is identified as Pick P-10b, the fractional serial number prefix variety. According to PMG population reports, two main varieties exist for the base Pick number: P-10a (single letter prefix) and P-10b (fractional S/N prefix). The observed serial number format 'Z476774' appears consistent with the fractional-style prefix designation. The note is signed by G.R. Blaking (Assistant Colonial Treasurer) and John Cunningham (Colonial Treasurer), dated May 12, 1937, issued from Hamilton, Bermuda.