5 dollars 1978
Market Prices
8 salesAbout This Note
This is a 1978 Bermuda $5 specimen note issued by the Bermuda Monetary Authority, featuring Queen Elizabeth II in profile on the obverse and a detailed engraving of St. David's Lighthouse with a panoramic Bermuda harbor scene on the reverse. The note is in exceptional uncirculated condition with sharp, clear printing throughout, and bears characteristic specimen markings including the bold red 'SPECIMEN' overprint and two circular punch holes typical of specimen currency. This is a significant example of Bermuda's 1978 series, notable for its sophisticated multicolor design incorporating maroon, pink, and aqua tones with intricate fine-line engraving throughout.
Common. The 1978-1988 series of Bermuda $5 notes was a substantial regular issue with significant print runs. Market evidence strongly supports this classification: eBay sales data shows VF examples regularly selling for $7-15, AUNC specimens at $35, and even PMG-graded pieces (66-65) at $86-88, which are modest prices indicating regular availability. Catalog values from 2019 list UNC at $45, which reflects a common note. Specimen notes are slightly scarcer than regular circulation issues, but specimen notes themselves remain common for most 20th-century currencies. No evidence of recalls, short production runs, or limited issue status exists for Pick 29.
Issued on April 1, 1978, under the authority of the Bermuda Legislature, this note represents the modern monetary identity of Bermuda following the establishment of the Bermuda Monetary Authority. The prominent depiction of St. David's Lighthouse and the panoramic harbor scene reflects Bermuda's maritime heritage and colonial architecture, while the inclusion of Queen Elizabeth II acknowledges Bermuda's status as a British Overseas Territory. The lighthouse imagery specifically honors one of Bermuda's most recognizable maritime landmarks and connects the currency to the island's important navigational and historical significance.
The obverse features a formal portrait of Queen Elizabeth II positioned on the right side, depicted in three-quarter profile facing right, wearing jewelry including pearl earrings and an ornate necklace. The center of the note displays the Bermuda coat of arms with heraldic shield design, flanked by the Bermuda Monetary Authority seal featuring a lion rampant. Ornate decorative borders frame the note with fine rosette patterns in the denomination circles at all four corners. The reverse depicts St. David's Lighthouse on the left side with its characteristic cylindrical striped design, complemented by a detailed panoramic engraving of St. George's Harbour showing colonial architecture, waterfront buildings, maritime vessels, and coastal landscape features. Both sides employ symmetrical ornamental scrollwork and floral patterns throughout, with denomination numerals prominently displayed in decorative circles.
FRONT SIDE: 'BERMUDA MONETARY AUTHORITY' (issuing institution), '$5' and 'FIVE DOLLARS' (denomination), '1ST APRIL, 1978' (issue date), 'ISSUED UNDER THE AUTHORITY OF THE BERMUDA LEGISLATURE' (legal authority), 'CHAIRMAN' and 'MANAGING DIRECTOR' (signature title designations), Serial number: 'A 77_874', 'SPECIMEN' (security/validation marking). BACK SIDE: 'BERMUDA MONETARY AUTHORITY' (issuing institution), '$5' and 'FIVE DOLLARS' (denomination), 'SPECIMEN' (security/validation marking). All inscriptions are in English.
Intaglio (engraved steel plate) printing, which is evident from the fine-line engraving patterns, intricate rosette designs, and the sharp, crisp quality of all portrait and landscape details visible throughout both sides. The multicolor printing (maroon, pink, light green, and aqua) was achieved through multiple passes of the engraved plates. The security thread area is visible in the design, indicating the incorporation of embedded security elements typical of high-security currency production of the 1970s-1980s era. This note was produced by De La Rue or similar specialist currency printer (standard for Bermuda Monetary Authority issues of this period).
This note is a SPECIMEN variant of Pick 29, identified by the prominent diagonal red 'SPECIMEN' overprint and two circular punch holes characteristic of specimen currency. The PMG population report confirms P-29s as a cataloged variant (Specimen). The serial number format 'A 77_874' with the A prefix is consistent with 1978 issues. Based on the visual analysis showing 'CHAIRMAN' and 'MANAGING DIRECTOR' signature titles and the April 1, 1978 issue date, this represents the initial variant (P-29a) in specimen form, making it P-29as per the Pick catalog designation provided. No variations in signatures or dates are observed that would distinguish secondary varieties.
