Jamaican Dollar - Banknotes

Banknotes

On 8 September 1969, banknotes of 50 cents (5 shillings), $1 (10 shillings), $2 (£1), and $10 (£5) were introduced. The $5 note was introduced on 20 October 1970, followed by the $20 in June 1976, when the 50 cent note was replaced by a coin. $100 notes were added on 2 December 1986, followed by $50 notes on 27 July 1988. The $2 note was dropped in 1989, whilst the $1 note was replaced by a coin in 1990. In 1994, coins replaced the $5 notes and $500 notes were introduced. In 1999, $10 coins replaced notes, whilst, in 2000, $20 coins replaced the notes and $1000 notes were introduced.

Banknotes currently in circulation are:

• $50 (Front: The Right Excellent Samuel Sharpe, National Hero; Back: Doctor's Cave Beach, Montego Bay)
• $100 (Front: Sir Donald Sangster; Back: Dunn's River Falls)
• $500 (Front: The Right Excellent Nanny of the Maroons; Back: Old Map of Jamaica highlighting Port Royal)
• $1000 (Front: The Honourable Michael Norman Manley, ON OCC LL.D. (Honorary); Back: Jamaica House)

The Bank of Jamaica introduced a $5000 bill into Jamaica's monetary system on 24 September 2009. It bears the portrait of former Prime Minister of Jamaica, The Honourable Hugh Lawson Shearer. On May 18, 2009, a specimen note was presented to the former Prime Minister's widow, Dr. Denise Eldemire-Shearer. Some have criticized the Bank of Jamaica's measure to introduce this banknote. Among the critics are Finance Minister Audley Shaw, who says that the introduction of such a banknote is a sign that the Jamaican Dollar is losing value.

On November 15, 2010, the Bank of Jamaica issued a $50 commemorative note to celebrate its founding. The note is similar to its regular issue in design and security features, but the bank's logo printed in blue, with the words "50th anniversary and 1960-2010" printed above and below the logo. The back of the commemorative note features the Bank of Jamaica headquarters building in Nethersole Place set against a background of morning glory blossoms. Both the commemorative and the regular issue note circulate in parallel.

In 2012, the Bank of Jamaica introduced a new family of banknotes commemorating the country's Golden Jubilee. The commemorative banknotes are similar to its regular issue banknotes, but on the obverse it features the "Jamaica 50" logo superimposed on the watermark on the front of each note. The unique image, which is normally on the reverse side of each note, has been replaced by a photograph of a group of children from Central Branch Primary School, from 1962. It formally appeared on the $2 note, which was in circulation from 1969 to 1994.

Currently, the Jamaican banknotes are printed on a cotton material which has a relatively short life in the country's tropical climate and other circulation conditions, but the new notes will come on enhanced substrates.

The $100 note is printed on a material called "Hybrid", a combination of a protected polyester film layered on a cotton fiber core. The $50, $500, and $1000 notes are printed on a varnished cotton substrate, that is, the traditional cotton treated with a varnish after the notes have been printed. Varnishing creates a moisture -proof layer to protect the banknotes against surface soiling and reduces the extent to which they will absorb moisture, contaminant particles and microorganisms. The $5000 note remains on a regular cotton substrate as the main security thread, "Optiks", is compatible only with the cotton based material.

The commemorative notes are released into circulation on July 23, 2012 and the new notes will circulate alongside the regular issue banknotes.