Bermuda is a British island territory in the North Atlantic Ocean known for its pink-sand beaches such as Elbow Beach and Horseshoe Bay. Its massive Royal Naval Dockyard complex combines modern attractions like the interactive Dolphin Quest with maritime history at the National Museum of Bermuda. The island has a distinctive blend of British and American culture, which can be found in the capital, Hamilton.

Bermuda is self-governing, with its own constitution and its own government, which enacts local laws, while the United Kingdom retains responsibility for defence and foreign relations. Bermuda had one of the world's highest GDP per capita for most of the 20th century.

In 1970 the country switched its currency from the Bermudian pound to the Bermudian dollar, which is pegged at par with the US dollar. US notes and coins are used interchangeably with Bermudian notes and coins within the islands for most practical purposes. Bermudian notes carry the image of Queen Elizabeth II. The Bermuda Monetary Authority is the issuing authority for all banknotes and coins and regulates financial institutions. The Royal Naval Dockyard Museum holds a permanent exhibition of Bermuda notes and coins.

The note depicted besides is a unique vertical series banknote from 2002. This beautiful light blue coloured note has Eastern Bluebird (Sialia sialis); Bust of Queen Elizabeth II wearing a crown; Stylised sailing boats or yachts; Butterfly as registration device; and Hibiscus flowers on its obverse. The reverse depicts a sunset or sunrise; Butterflies; Compass rose; a view from King's Wharf at the Cruise Ship Terminal; Dockyard Clock Tower and a Statue of Neptune in Bermuda Maritime Museum. This note sports various Watermarks: Hibiscus flower; Electrotype sailboat; Reinforced cornerstones.

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