Bermuda Bermuda Government 10 Pounds 28.7.1964 Pick 22 PMG Superb Gem Unc 67 EPQ. Colorful, beautifully designed, and seldom seen today; this highest denomination type is widely sought after, especially in such an impressive state of preservation. At the time of cataloging, only one example grades finer in the PMG Population Report. This denomination was initially conceived due to inflation and the depreciation of the Pound against the U.S. Dollar. Bradbury, Wilkinson & Company prepared 300,000 banknotes, but release was slightly delayed due to a technical issue with the security strip. Finally issued in November of 1964, this denomination was initially unpopular, but gained usefulness when the pound was devalued in 1967. However, in 1969, Bermuda announced the change from Pounds to Dollars in decimalized form, which would void the older banknotes. Serial numbers 000,001 to 250,000 were issued, with the final 50,000 supposedly destroyed. This example, with utterly impressive pack fresh original quality, bears a serial number from the supposedly unissued stock. A forward thinking person with access to banknotes in Hamilton must have saved this beautiful example as a souvenir, and thankfully so. An important Queen Elizabeth II offering and desirable in this lofty grade.

HID09801242017

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