$70 banknote to commemorate Queen’s platinum jubilee

Cabinet has approved a one-time printing of a $70 banknote to commemorate the platinum jubilee of the late Queen Elizabeth II.

The queen marked her 70th year on the throne in February last year, seven months before she passed away.

The last Cabinet meeting to be chaired by former Governor Martyn Roper, on 28 March, approved the decision to create the new note.

The issuance of the note is being overseen by the Currency Division of the Cayman Islands Monetary Authority.

In response to a query from the Compass on when the commemorative note would be printed, Deborah Ebanks, the head of the Currency Division, did not give a specific date, but said, “The production of a banknote is an extensive process.”

She added that her division could not provide any further details relating to the $70 note at this time, but that a press release would be issued at a later date.

While the commemorate $70 note will be a one-off, CIMA is also looking to redesign all of Cayman’s monetary notes following the death of Queen Elizabeth II and the ascension to the throne of her son, King Charles III.

Notes currently in circulation, which feature the image of the late queen, will eventually be phased out, and replaced with notes featuring King Charles, CIMA stated in an announcement in January this year.

It said it was working with government on a “complete redesign of the current banknotes”, which is expected to be completed next year.

CIMA ran an online survey earlier this year to seek the public’s input on the redesign of the notes, which also currently feature images of national symbols and marine life.

As well as redesigning how the notes look, CIMA is also considering changing how the notes feel, and is aiming to change from using paper to polymer, which, it says, is “more durable and cost effective”.

Apart from swapping out the silhouette of the queen’s head for the new king’s head, the design of Cayman’s coins will remain the same, CIMA has said.