$1 banknote commemorates first written Constitution

Premier Hon. Alden McLaughlin was pleased on Monday to announce the issuance of the new $1 banknote that commemorates the 60th anniversary of the first written Constitution of the Cayman Islands.

“We set out on a journey in 2018 to Celebrate Cayman in observance of the 60th anniversaries of our Coat of Arms and our Constitution,” said Mr. McLaughlin. “On Monday we honoured our heroes and the men who saw the need for Cayman’s own written Constitution and took the necessary steps to get that document approved by the Queen. I think it is fitting that we have a banknote that commemorates their work and the Constitution, which is the foundation upon which our democracy is built and the ultimate embodiment of the rule of law in the Cayman Islands.”

The commemorative note, issued by the Cayman Islands Monetary Authority (CIMA), is a modified version of the current “D” series $1 banknote.

The note is the same colour and design as its existing counterpart, with four differences.

The first is that the new note bears the Celebrate Cayman – 60 Years – Our First Constitution logo, which is located to the left of the Coat of Arms. The second change is that the signatures of Minister of Finance the Hon. Roy McTaggart and CIMA’s Managing Director Mrs. Cindy Scotland have been relocated to the right of the Queen’s effigy. The third change is that the magnetic thread running from the top to the bottom of each note has been replaced with a new security feature, a 4 mm wide RAPID micro-optic purple security thread demonstrating a dynamic wave effect when the note is tilted. The fourth change is a distinctive serial number that incorporates the "Q/2" series banknotes and is only used for special occasions such as this.

The other security features of the existing “D” series banknote will continue on the new note. These include our turtle watermark, a unique serial number on each note and florescent images.

The commemorative banknote can be acquired from CIMA’s Currency Division on the Ground Floor of the Government Administration Building. The note is sold at face value ($1.00) and goes into circulation via the retail banks this week.

CIMA reminds the public that it is illegal to print or publish anything in the likeness or appearance of all or part of a banknote. It is also illegal to mutilate, deface or perforate any currency note or coin that is legal tender in the Cayman Islands.