2 emalangeni 1974 replacement
About This Note
This is a PMG 68 EPQ graded 2 Emalangeni replacement note from Swaziland's 1974 inaugural currency issue, representing an exceptionally well-preserved example of the nation's early monetary authority banknotes. The note displays crisp, sharp printing with vibrant pink-orange coloring, sharp detail in both the portrait and industrial facility imagery, and no visible wear, creasing, or circulation marks. As a replacement note (indicated by the asterisk in P-2a*) from the first year of Swaziland's independent currency, this represents a significant piece of southern African numismatic history in outstanding condition.
Common. The 2 Emalangeni denomination from the 1974 inaugural series represents the lowest denomination note issued by the Monetary Authority of Swaziland and would have been produced in substantial quantities for general circulation. Replacement notes (indicated by the asterisk suffix) were issued routinely to replace damaged currency in circulation and are not inherently scarce. While PMG 68 EPQ represents an exceptional condition grade for a 1974 note, the base note type remains common in the market.
This note was issued during Swaziland's early years following independence, when King Sobhuza II, depicted on the obverse, held absolute authority as the nation's paramount chief and later king. The reverse features a sugar refinery facility, reflecting Swaziland's important agricultural and sugar production industries that were central to the nation's economy in the 1970s. The Monetary Authority of Swaziland's issuance of this note marks a critical moment in the country's establishment of monetary sovereignty and economic identity.
The obverse features a formal portrait of King Sobhuza II in profile/three-quarter view on the left side, rendered with fine detail and dignified bearing characteristic of official state portraiture. The Parliament House building in Mbabane is visible in the lower right portion of the front design. The reverse displays a detailed photographic image of a sugar refinery complex with multiple industrial structures, processing facilities, and cultivated agricultural fields, emphasizing Swaziland's economic foundation. Both sides employ ornamental geometric border patterns and feature the Shield and Spears national watermark. The note utilizes corner denomination markings and dual signatures (Minister for Finance and Governor) as standard security elements.
Front side: '2' (denomination), 'MONETARY AUTHORITY OF SWAZILAND' (issuing authority), 'THIS NOTE IS LEGAL TENDER FOR EMALANGENI' (legal declaration), 'Z075217' (serial number), 'MINISTER FOR FINANCE' and 'GOVERNOR' (signature designations). Back side: '2' (denomination), 'MONETARY AUTHORITY OF SWAZILAND' (issuing authority), 'TWO EMALANGENI' (denomination in words). All inscriptions are in English with references to Emalangeni in both Siswati and English.
Intaglio printing by Thomas de la Rue, London, employing multiple color separation processes to achieve the pink-orange, green, and purple multi-color design. The detailed photographic reproduction of the sugar refinery on the reverse demonstrates high-quality photogravure intaglio work characteristic of de la Rue's 1970s production. Security features include watermark integration and intricate border pattern engraving typical of premium banknote printing of the era.
This is cataloged as P-2a* (2 Emalangeni, replacement note variant) per Pick International. The asterisk designation indicates replacement currency (star notes), which replaced damaged notes in circulation. The serial number prefix 'Z' and specific serial number Z075217 identify this as part of the replacement series. Other known varieties for the 2 Emalangeni denomination include P-2a (regular issue), P-2s (specimen), and P-2CS1 (currency security variant), all printed by Thomas de la Rue.
