On October 30, 2024, the Bermuda Monetary Authority (BMA) announced that new $2 and $5 polymer banknotes will enter circulation this fall. An exact date of issuance has not yet been announced.
The new polymer notes are printed by De La Rue on the Safeguard® polymer substrate. The new banknotes will maintain the familiar appearance of the existing hybrid $2 and $5 notes, which are traditionally printed on cotton. The existing banknotes and the new polymer banknotes will co‐circulate, meaning that the existing banknotes will remain an accepted form of payment and legal tender for the foreseeable future. There is no plan to withdraw the existing $2 and $5 banknotes from circulation.
The new polymer banknotes feature advanced security details, including an ARGENTUM™ tuna fish and enhanced GEMINI™ patterns visible under UV light. The ARGENTUM™ security feature is a specialized silver ink that allows mirror-like free-form shapes on the final banknote. GEMINI™ is a distinctive and versatile print feature that reveals itself under ultra-violet light; the hidden image appears as two colors when illuminated with UV and is intricately linked to the image or pattern work of the visible print.
The new banknotes feature half-windows that are fully and partially transparent, depicting a cloudy sky and an underwater scene viewable from both sides. Surrounding these windows, security features such as ILLUMINATE and ROTATE are fully integrated into the iridescent ink design of waves, multiple fish, and a sun, that appear when the notes are tilted. ILLUMINATE builds up texture, strong colors and intrigue around the window whereas ROTATE is a design technique that creates a fully registered image on both sides of the polymer note.
The new banknotes feature tactile dots to assist the visually impaired in identifying and distinguishing between banknotes. The $2 banknote has embossed dots in the shape of a triangle, while the $5 banknote has dots in the shape of a circle.
These polymer notes will also be among the first to showcase King Charles III's effigy, following the passing of Queen Elizabeth II.
In the days ahead, the BMA said residents should expect to receive a postcard in the mail with visuals of the banknotes' features and relevant supporting information. At the present time, there is no date set for the production and issuance of the remaining denominations of polymer banknotes. Higher denominations will be introduced after consultation with stakeholders.
