BOJ releases more durable money, commemorative notes
Published:Wednesday | July 25, 2012 | 12:00 AM
The Bank of Jamaica began releasing a new type of banknotes on Monday, printed on more durable paper, or substrate, to lengthen their period in circulation as a cost-saving measure.
Also available as of Monday are commemorative banknotes in the five denominations, released through all the commercial banks and acceptable as legal tender.
The new substrates affect four of five denominations. The J$5,000, which was introduced into circulation last year, will continue to be printed on regular cotton substrate. The central bank said the note's security feature, known as 'optiks', is only compatible with the cotton-based material.
Meantime, the J$100 note is now being printed on a material called hybrid substrate, which gives the same touch and feel as notes printed on only cotton, but has a protective polyester film layered around a cotton-fibre core.
"The cotton core will continue to be embedded with the usual security features, such as the watermark and security thread, to ensure that the banknote remains secure against counterfeiting," said the central bank. The notes' size and weight will not change.
The polyester film in hybrid is said to be more resistant to soiling.
The J$1,000, J$500 and J$50 notes will be printed on 'varnished cotton'. BOJ said varnishing creates a moisture-proof layer to protect the banknotes against surface soiling and contaminants.
Meantime, the security features for the commemorative notes will remain unchanged but the bills will bear the national logo for the 50th Anniversary of Independence superimposed on the watermark, as well as a common vignette - the photograph of a group of children from Central Branch Primary School (c. 1962), depicting the National Motto, 'Out of Many, One People'. This photograph previously appeared on the reverse of the J$2 banknote, which was in circulation between 1969 and 1994, said the BOJ.
The notes will be dated 06.08.2012 (August 6) and will bear the signature of the current central bank governor, Brian Wynter.
Jamaica's banknotes are printed by De La Rue Currency in the United Kingdom.