50000 Bank of Uganda shillings named the best banknote of year

The International Bank Note Society IBNS) announced the results of the competition “Banknotes 2010”, which became Uganda`s 50,000 shillings note. This year, for the first time, the award was decided by a popular vote by members of the IBNS, rather than by a committee.

The award shows a strong appreciation of the 50,000-shilling note among a large community of banknote enthusiasts. The highest denomination in a series of six notes introduced in May 2010, the 50,000-shilling note has strong design elements consistent with the series. These elements include the watermark of the head of a crested crane, an outline of a map of Uganda (highlighting the equator), the profile of man wearing Karimojong head dress, patterns based on indigenous basket work and, at the far right on the back, the Independence Monument. Erected to celebrate Ugandan independence in October 1962, the statue is of a woman wrapped in bonds lifting a child above her head, celebrating the birth of the nation.

On the front of the award-winning note the ‘Stride Monument’ is at the left, the Bwindi tropical rain forest is illustrated at the centre left, a foil strip with the denomination and images of shields at centre right and an area for the watermark at the far right. The Stride Monument was erected to celebrate the Commonwealth Heads of Government Meeting held in Kampala in 2007. Depicting a husband, wife and son stepping forward, the monument symbolizes the countries of the Commonwealth progressing as a family.

The back of the note is dominated by illustrations of silver back mountain gorillas and undoubtedly these amazing animals attract people to the notes and their depiction is one of the reasons the 50,000-shilling note was so popular amongst the IBNS members voting for the award.

Apart from the gorillas, there is much which is attractive about the note, such as the good use of colour — particularly the brown, which might have made the note appear dull if used inappropriately, and the golden highlights which capture attention. Strong images, well depicted, add to the quality design of the note and good use of security features for a high-denomination note enhances the overall effect.

Printed by British security printers De La Rue, the note was designed in cooperation with the Bank of Uganda. This successful collaboration has seen an impressive series of banknotes introduced to Uganda and it has produced the award-winning note in the competition for the IBNS Banknote of 2010.

The second and the third places in the ‘Best banknote of the world’ won 50 pounds of Gibraltar, and 10,000 vatu of Vanuatu accordingly. Each voting member IBNS selected the three notes from 13 nominations. The best banknote was given 3 points, for the second — 2, and for the third — 1. Points for the first three places were as follows: 50 000 Ugandan shillings — 256, 50 pounds of Gibraltar — 247 and 10 000 vatu of Vanuatu — 188 points.

At the same time along with the competition for the best banknote the vote for the best book on paper money took place. This year the best was the study ‘Paper Money of Ireland’ by Bob Blake and Jonathan Callaway.