Putting together a Bank of Jamaica set

From 1995-1996, I taught some college courses in Kingston, Jamaica.  While there $1.00 CAD = approximately 23 JMD (Jamaican Dollars) but I was paid very little so I wasn't in the position to hold onto precious banknotes that could buy me food or a trip across the city of Kingston. 

The best (UNC) notes I came across were $100 JMD BUT I could not afford to tuck away any $100 JMD in 1995.  Once I started collecting  WORLD currency in 2015, I figured I had all the time in the world to pick these notes up since many seemed so cheap. I was wrong (of course) b/c I should have started looking for these right from the start. Back in 2015, I wasn't being very careful at scrutinizing what was being offered (dates vs ND notes, etc) & the different prices between a “Collector Series set” (ND notes with STARS & dates overprinted on them, for example).   I was late to the game & only started to put the various denominations together in 2022 (during the pandemic) & started to realize that the 1970 ND versions were tough (to scarce) & prices sky-rocketed. 

So, what you will see (the notes that I have acquired) are not necessarily the earliest (or best) but rather the examples I could pick up easily (at the time) over the past 3 years. I am still trying to get the earliest version possible but in some cases, the earliest version means $100 for a $10.00 JMD note (which might have been worth $2-$5.00 USD when issued). What they were worth (when issued) needs to be ignored b/c these notes are tough to come by (especially in the higher grades).  

Here's the first note from the series (& one of the most difficult to get in UNC, surprisingly). It is Jamaica P-53a, the 50 cent note, printed in 1970 & the last note which I just picked up this week. It is surprisingly expensive, yet understandably so:

The next note is the ONE DOLLAR which is P-59b. If you examine the 50 Cent (& the $1.00 from 1970 or P-54 $1.00 you will notice that only 2 of the markers for 50 cents are actually bright WHITE & easy to read. The other two makers (50c) are difficult to discern.  In 1976, the printers corrected this 2 dull grey (tough markers to see) & made them bright WHITE (& much easier to view). 

Four markers were bright white in 1976 & so much more “user-friendly.” That is my P-59b example below. It is really a great lesson to realize that when printers revise a series (like they did to the 1970 P-54a series), they're the type to chase (or seek) as a collector, since the early first versions tend to increase in value much more consistently then the revised versions. So here is P-59b (with four WHITE $1.00 markers & the second “Walker” signature from 1976 rather than the “Brown” signature):

Now, while the above note is definitely the easiest note to obtain (compared to the P-54a series) it has still been highly sought after compared to the later/dated versions.

The last note (for today) is the cheapest of the bunch (with the 1993 date) since I have struggled to get a decent UNC TWO for a decent price & just chose this later issue.  The P-69 variation occurs after several printer revisions. It demonstrates what NOT to BUY if you want a tough Jamaican note. The earliest (& most valuable versions) of the decimal notes from Jamaica happen to be ones WITHOUT a date printed. This note clearly has the 1.2.93 date & is one of the cheapest notes you can pick up. As far as a P-69 $2.00 goes, it is a GEM (in condition) but very easy to obtain (I will still try to get the more elusive P-55 variety)

When I worked in Jamaica, the $2.00, $1.00 & 50 Cents were virtually impossible to find in circulation since $1.00 USD was equal to $27 JMD so a $2.00 would be worth less than 10 cents USD. It would only be used to buy candy & the cheap tin coin worked fine at the time. I remember going to a yacht club bar & seeing one of these (& a $1.00) rolled up in a tip jar. I didn't even know they existed & was a bit saddened to see it so soiled & circulated (knowing it would be hard to find something like that in UNC). At least that's what I assumed at the time.

Next, I will post the $5, $10 & $20 JMD notes I picked up. 

Nice notes.

My favourite is the $2 FAO commemorative. Got this in 2014 for US$19+. What I like about this note is the theme on the back as it promotes unity - Out of Many, One People. Unlike a few countries around the world, some governments still practice divide and rule policy among their own people.

This note is undated on the front.

What I like about this note is the theme on the back as it promotes unity - Out of Many, One People. Unlike a few countries around the world, some governments still practice divide and rule policy among their own people.

+1 totally agree & nice 1973 note! You have posted P-58, which is essentially the original P-55 series with the FA prefix & overprint declarations on the reverse (it is clear it has the 2 bottom markers in white & the 2 top markers in grey). That's a great note with a lofty Numista Rarity Index of 70 (actually higher than P-55 from 1970)! 

Sorry, the ½ Dollar (P-53) features Marcus Garvie who was a huge political activist for Black empowerment.  P-54, the $1.00 (& its other variations) features features Sir Alexander Bustamante  who was Jamaica's 1st Prime Minister in 1962. The TWO DOLLARS features activist Paul Bogle who believed that Jamaican society could be equal “out of many, one people.” The image on the back is from a 1962 photograph taken at Central Branch Primary School, in Kingston, Jamaica.

Today's trio would set me back $30 (or less). They have dates & are not necessarily the varieties one wants unless they wish to fill in the gaps (as I did). 

The FIVE is the last of its kind. It was last issued in 1992 I believe (which is 3 years before I arrived in Jamaica) but I never saw it while there (just the coin). It features Norman Manley, first Jamaican premiere & a key figure who fought for its independence (plus the 1st parliament building on the back):

FIVE DOLLARS (P-70d):

TEN DOLLARS (1992 P-71d featuring George William Gordon who was both a business man & politician. It also shows the bauxite industry (on the reverse). Key to their aluminum exports:

TWENTY DOLLARS (P-72c) features Nole Nethersol & the central bank of Jamaica on the reverse:

The $10 & $20 were still circulating while I was working in Jamaica so I brought a couple ragged examples back with me (but I have no idea where they ended up!)  

@Serial_Number_8 Regarding the P-53a 50cent note, I was able to obtain a single letter prefix. I’m assuming these were from the earliest printings. They seem very rare. Any info about those would be greatly appreciated.

Peter

blue-m

@Serial_Number_8 Regarding the P-53a 50cent note, I was able to obtain a single letter prefix. I’m assuming these were from the earliest printings. They seem very rare. Any info about those would be greatly appreciated.

 

Peter

-A single-letter prefix note is indeed the top-tier note in terms of rarity. Thanks for sharing this info Peter (I did not know that the Jamaican Central Bank followed this protocol).  This is like the Philippines, Portugal & other countries who employed 1 or 2 letter prefixes before moving on to the more common 2 (& 3) letter prefixes.   I do not have any info other than a comparison to what other countries have done in the past. 

I just want to remind folks that if they wish to assemble a set of early Jamaican decimal notes, then their best path is to look for 1970 (& 1976) ND (No Date) series.  The Fifty Cent note is coded P-53 & only has the 1970 issue. Look for P-54 for the ONE; P-55 for the TWO, P-56 for the FIVE & P-57 for the TEN DOLLAR notes (if you can). These all have the Brown signature & small guilloche pattern with 2 numerals in WHITE. As @blue-m pointed out, first issues had single-letter prefixes as can be seen (with the C prefix) on the photo used for the P-57 TEN (see link).  The single-letter prefix was still being used for the 1976 versions & this was when they introduced the TWENTY DOLLAR or P-63 & revised the ONE P-59 (shown above), the TWO P-60, the FIVE P-61 & the TEN or P-62.  These notes were all modified with 4 large markers on their reverse (large guilloche patterns) & they are all very tough to source (just like their predecessors). 

The next tough series are those described as the “Jamaica Act” version because this versions has “Issued under the Bank of Jamaica Act” under the left serial number. These were first issued in 1982 with P-64 ONE DOLLAR:

The P-65 (TWO DOLLAR) & P-66 (FIVE DOLLAR) are also tough notes.

Here's my P-73 $50 DOLLAR (the first version) which shows the date. It features Samuel Sharpe who was famous slave who led a big rebellion & was regarded as one of the country's first heroes: 

The best $100 I could find was this 1987 P-74 version. It features Donald Sangster (past PM). Again, these early versions are fantastic notes to go for as they can be tough but still affordable (in comparison to the early low-denominations):

Not exactly the most beautiful thing in the world but still a good find I think.

Not exactly the most beautiful thing in the world but still a good find I think.

Its nice to score a tough note & be aware that its either the early version (or some other tough variety while others aren't “aware).”  Thanks for sharing the image. I also noticed that the example used for  P-57 1970 TEN DOLLAR note has a single-letter C prefix.  The 1976 series continues the same single-letter prefix pattern. Not sure whether this is continued with the “Jamaica Act” series from 1982.

On a side note: I have often encouraged collectors to check out the early/first versions BUT also be aware that some middle & last varieties can also be tough (or short) too. This happens especially when another series is introduced (I provide 2 examples below when Canada upgraded security/introduced polymer & the same thing is happening with the Philippines). 

A few First/early variety examples:

Any European note without a prefix (such as this 100 Francs from Luxembourg):

Certain Signatures: any 1937 Bank of Canada denomination with the Osborne Towers signature combo (P-21a $1.00; the $2, $5, $10, etc right up to the $1000) 

Printers:  P-167 2000 Dominican Republic 100 Pesos (made by the BA Banknote co).

First “A01” prefixes from England are usually tough. For nations which issue longer types of prefixes (like BoE) these notes are sought after.

First Suriname 2004 DOLLARS, early Cyprus One Pound (pink varieties), etc

Some short LAST variety examples:

Last prefixes of series being phased out: most of the 2003 Jenkins Dodge  Original Journey $10 (BEK, BEL & BEP P-102d)

Any Macklem-Carney $5.00 paper  (P-101Ae)

SHORT years issued: 1996 & 2000 France 500 Francs P-160b & 160d)

Suriname first Dollars (the 2006 & 2009 later varieties are the toughest for $10 and up)

Even some very inexpensive notes from the Philippines such as the 50 Pesos without the marks for the blind & notes with 7 (as opposed to 6 digits, 2 letter replacements & short signatures (Duterte-Espenilla), etc are fairly inexpensive but tougher. 

There's countless examples (which collectors seek) but I just thought I would throw in a few above.  One of the reasons I've given such a long response is that I just saw a post on SM asking whether one should seek the first “a” variety. There's really no hard rules (it depends!)

While I was in the middle of composing this thread, I saw an eBay sale for an AU $1.00 (P-54 with just 2 white numeral markers) & decided to “pull the trigger.”   I normally don't buy AU (& try to stick to UNC) but it was sold by a Canadian seller with low postage (good feedback) so I thought “what the heck!”

So here's the note & fortunately it has a 1 letter (V) prefix! The seller also had it labelled on the front (that is the white one sees on the top right border).  So now I have all 3 of the ND (No Date) varieties!

Now, I will need to try and get the first ND varieties of the $2.00, $5.00 & $10.00

Sometimes a little knowledge is disappointing. I filled out my Jamaica series from 1 to 500 this past summer. I did notice some large discrepancies in prices but did not investigate why. Being a cheapskate I went for the lower priced ones and was feeling good that I had filled it out. They also had some of the collector series but did not like them. Someone must have beat me to the 50 cent note as I never saw it. It is still awaiting discovery at a coming show. 

This weekend the CNA had their annual show in Calgary. Picked up 30 to 40  new notes for myself.  Didn't see any Jamaica notes but there was a dealer there from Boucherville Quebec. He had a great selection of French Indochina notes and some Early Vietnam notes that I had never seen in Calgary before. You can imagine the cost for any of them. They were out of my current price range but sometimes it is just as rewarding to actually see some of the notes I desire. I did pick up a 1996 100 Mark German Clara Schuman note. It was one of the first notes with Omron rings on it. Germany and Romania each put some out in 1996. The dealers in the bourse concentrate on Canadian stuff but there were are a few who had world coins and paper with them and it is always fun to go and talk with fellow enthusiasts. A book dealer had one on Alberta commercial tokens and I found my home plate cigar store token in it. It is recorded as being from 1910.

Sometimes a little knowledge is disappointing. I filled out my Jamaica series from 1 to 500 this past summer. I did notice some large discrepancies in prices but did not investigate why. Being a cheapskate I went for the lower priced ones and was feeling good that I had filled it out. They also had some of the collector series but did not like them. Someone must have beat me to the 50 cent note as I never saw it. It is still awaiting discovery at a coming show. 

A few things I learned (early on) from conversations with a great Canadian dealer (Don Olmstead) was that there is always a reason why one note will be a bit more pricey than the next.  (Sometimes, it is just one seller trying to squeeze out an extra buck but often there's a reason).  It is the collector's job to understand why.  It might be as simple as a GEM UNC note offered compared to a poorly handled UNC60 note.  As soon as I decided to go after my 2nd set of Jamaican notes, I realized there were big discrepancies between the dated versions & ND versions, so I started using Numista's Rarity Index (NRI #) & my own observations to discover how difficult the 1970 & 1976 series were.  The NRI # are still evolving (& anything but complete/reliable) but still not a bad indicator for notes that are tough (vs easy to find “dealer stock”)

Another thing Don told me was that there were more US collectors seeking older Bank of Canada series than there were Canadian collectors (seeking the same).  Initially, I found this fact a hard pill to swallow but, later (when seeking BoC 1935 series) so true. Another Canadian Error specialist recommend I start collecting World currency about 25 years ago but it took me another 15 years to take his advice. Once starting down this slippery rabbit hole, I soon discovered that I had to buy more World notes from World (& US based) sellers than Canadian sellers.   The collector had told me that World notes were relatively cheap & I discovered that this was indeed the case. I believe it was because more US collectors were seeking BEP & Large size US notes.  Such collectors first complete their national sets & then may possibly chase one (or 2) World series that means something to him (or her).  But American collectors who seek World are a small subset. Slowly, this is changing (just like eBay has become expensive) but there are still many opportunities (one of the reasons I started this Jamaica thread).   Early ND (1970/1976) & some of the earlier $50 & $100 notes are undervalued (IMO) partly due to the Collector Series, the cheap dealer stock (dated) issues that were sold in bundles, etc. These notes just don't get the respect they deserve (like Suriname & other small island nations). 

This weekend the CNA had their annual show in Calgary. Picked up 30 to 40  new notes for myself.  Didn't see any Jamaica notes but there was a dealer there from Boucherville Quebec. He had a great selection of French Indochina notes and some Early Vietnam notes that I had never seen in Calgary before. You can imagine the cost for any of them.

Hope you enjoyed it! These shows are great for meeting knowledgable dealers/notaphilists who have extensive/valuable insights. I love the artistic designs of French Indochina & appreciate how tough they are. I can imagine the prices!

I did pick up a 1996 100 Mark German Clara Schuman note.

-That's a beauty (like the P-41 1989 version).  My experience has always been to bid in an auction where several (of the type you are looking for) are offered (or after numerous auctions which have featured the same note, or versions of it in different grade levels, several times).  I have done well that way (by tracking a number of auctions & bidding on something i want after some market saturation).  

I had heard about the American demand influencing Canadian note prices but I generally get my Canadian notes from the bank but it is hard to find a bank that gives out cash anymore. I rely on the bottle return depot. They get new bills for their money machines. I also use cash at the dollar store for the same reason. They often fill their auto checkouts with new coins and bills. At the CNA show I found that many of the items were higher priced than the local Calgary shows. I guess the dealers come from farther away and have higher expenses than local dealers. And  I suspect the clientele at a national show is different too.

I was looking at the 1935 $20 Princess Elizabeth note. I remember when they were in the hundreds of dollars. Now they are into the thousands in graded states.

But the adage is, "even after you have spent all your money, you still have some."

Thanks for your response.

The local Calgary show is/was this weekend Sept.20 and 21 2025. I found the P-53a. It was $11.00 unc.

ThePoet

The local Calgary show is/was this weekend Sept.20 and 21 2025. I found the P-53a. It was $11.00 unc.

-That's a great price.  Do you pick it up (have a picture)?  Was this the single-letter prefix?

When I started collecting World (around 2015) that was about what you'd see the tougher earlier series for (& more the higher the denomination). Sometimes the notes were AU (though listed as UNC).  I saw two-letter prefixes of P-53 priced about $15 if you bought 4-5 lot (but I wasn't interested in getting that many).  

It is a two letter prefix and the top two 50's are shaded with red. 

After your discussion here, I figured just grab while I can. it wasn't an outrageous price and the condition was very good. I would say xf. paper quality is good but has a fold visible in it so not unc 

I forgot to add that I started out collecting simply a set of ONE HUNDRED notes. Originally i was going to try to get all 7 versions from P-74 to P-95.  What prompted me was seeing the 2022 polymer $100 in 2023 & that's about when I started my search for P-74. As I got going though I found it a bit too easy & shifted my focus on a full set (50 Cents to $100) as described above.

So I ended up picking up P-80d (2004) $100 which was quite easy:

P-90, the 50 Year commemorative (with the design from the reverse of the $2.00 on the back):

And the last note was the P-95 “green leaf” version with the serial number in the green leaf zone, also the last of the paper (2021):

All of these notes were fairly easy to pick up with the oldest (P-74) a minor challenge.  Nice to see the design changes (how they evolve over the years) & I may pick up the other 3 versions I'm missing some day.

Over the past 3 years, while acquiring the Central Bank of Jamaica Decimal series (1970 onward), I also won 3 "pre-decimal" notes with the QEII portrait.  It took me a while to get these b/c I soon realized that they weren't going to come cheap! In fact, I discovered that many low denominations that featured her father (King George VI) were available for a better price than some of the QEII varieties! Anyway, I finally did get lucky & won the 3 UNC GEM examples (below).

P-49 Five Shillings (signed Stanley Waldon Payton & Latin Motto):

The reverse features Dunn's River Falls (a bit more of a close up view than the $100). This is the first & one of the toughest versions of the 5/- to find in UNC (besides some of the 1964 varieties). They printed the 1961 Latin Motto variety for the 10/- & 1 Pound note as well.  There is also a large formatted “Government of Jamaica” 1960 Five Pounds which is rarely offered at auction (P-48a & b).  I wanted to continue on this 1st edition line but bidding got far too intense (for me) so I lost out on the early P-50 Ten Shilling variety & had to settle for a 1964 “B” revised version.

P-51Be Ten Shillings (Signed by George Arthur Brown):

The reverse features “men with bananas on a boat, with palm trees in the background.” Again, this variety is probably one of the easiest to attain but I was happy to have won it since it completed my set. I tried to win other notes on this auction but only wound up winning the above 2 notes. I had to wait another 6 months before I won the One Pound note below.

P-51Ce One Pound (signed by George Arthur Brown):

The reverse features “harvesting sugarcane, legend above, denomination in corners.” The English motto ‘Out of Many, One People’ can be found beneath the Coat of Arms (whereas in the 5/- example the motto is in Latin). Although I did bid on earlier (tougher) varieties I lost out & had to settle for this easier type. 

I have not bid on the smaller 1967 FIVE Pound & I am doubtful that I will because an UNC example is quite dear. I will not bid on a non-TPG example as I have seen far too many with tiny bits of toning & other issues far too often!

Jamaica got its independence in 1962 so I don't know how popular these QEII notes were. Jamaicans I talked to (while working there in 1995-1996) were either vigorously pro-independence or lamented the “divorce” from England.  I am sure that Nole “Owl” Nethersol was trying his best to organize the Central Bank & order up the first Jamaican Dollars (printed in 1969 but not released until 1970). 

That's it for my collection from Jamaica. Hope you enjoyed the “show!”

Beautiful notes and this image of the Queen is only on these Jamaican notes (P49-52).

ThePoet

Beautiful notes and this image of the Queen is only on these Jamaican notes (P49-52).

Thanks @ThePoet  (it was fun putting both sets together).  I won the 5 /- & 10 /- from the same World Banknote Auction (it was a special Jamaican note offering that day). I believe it was either his last or 2nd last auction that I won the One Pound note. Unfortunately, he sold out his Auction app & moved to Stacks so we no longer have his low buying premiums (& must deal with the red tape/surcharges you get with the big auction houses).  

It would be nice to pick up the 5 Pound & missing no-dates for the early decimal series some day.  

Your posts are always so interesting to read @Serial_Number_8, and you're very knowledgeable on what you collect.

I just recently picked up N#218674 in XF for US $1.60. Other than a corner crease a couple millimeters in, it's flawless to the naked eye. I got it with the same logic @ThePoet had in mind with his purchase of the 50. Its serial is BU858505, so not anything terribly special from what I can tell, but it's still nice to have.

Hmm. I do recall that there is a specimen set of the original design of these (first post) which included the 100, a scarce note. Produced by the issuing authority, the set was the only way to cheaply acquire an  UNC example of the 100 dollar note. I had a pair of these sets at one stage (1990s) - can't remember what became of them. I haven't seen them in years, swapped for something I guess! Still, I will have a look and see if I kept one.

Voided_Username01

Your posts are always so interesting to read @Serial_Number_8, and you're very knowledgeable on what you collect.

 

I just recently picked up N#218674 in XF for US $1.60. Other than a corner crease a couple millimeters in, it's flawless to the naked eye. I got it with the same logic @ThePoet had in mind with his purchase of the 50. Its serial is BU858505, so not anything terribly special from what I can tell, but it's still nice to have.

Thank you! Excellent pick up (& incredible score for the $)!  

do recall that there is a specimen set of the original design of these (first post) which included the 100, a scarce note. Produced by the issuing authority, the set was the only way to cheaply acquire an  UNC example of the 100 dollar note. I had a pair of these sets at one stage (1990s) - can't remember what became of them. I haven't seen them in years, swapped for something I guess! Still, I will have a look and see if I kept one.

I am unclear what $100 note you are referring to @Hibernia . There were Collector series  (stars before the serial number) issued from 1976-1978. I don't believe these were expensive (not common b/c they were a limited edition made for collectors) but not specimens & only $1 to $10 denominations.  Maybe you could clarify or share a link?

Serial_Number_8

Maybe you could clarify or share a link?

The 100 was in the set, which is what made it interesting! I'll have to see if I can find the set, if I still have it.