Collection Inspiration: Best Designed Notes

Posted on 7/22/2025

The latest IBNS Banknote of the Year was announced recently, so we take a look at it and other winners.

Each year, the International Bank Note Society (IBNS) recognizes an exceptional issued note by awarding it the IBNS Banknote of the Year award. The numismatic group welcomes banknote nominations, which are then voted on by the board of the IBNS before announcing the winner at the organization's first board meeting of the year.

The board takes several factors into consideration when selecting the annual winner. When reviewing each nominated banknote, IBNS board members consider the note's artistic merit, design, use of color, contrast, balance and security features. Some of the current nominees for the 2025 award include banknotes from China, Curacao and Sint Maarten, the Falkland Islands and the United Arab Emirates. As we wait to see who is named the next winner in early 2026, here are 10 banknotes that received the IBNS Notes of the Year award.

Ten Banknotes that Won the IBNS Notes of the Year Award

2024 - Bermuda

The most recent Note of the Year winner comes from the Bermuda Monetary Authority, which won the prestigious award for the second time. The vertical 2024 Bermuda $5 banknote was an overwhelming favorite to win from the onset of voting, according to the IBNS website. The award-winning note stood out because of its predominantly pink coloring with purple highlights that features a blue marlin, dolphins, tuna fish and a small bust of newly crowned King Charles III.



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2023 - East Caribbean

Another island nation took home the top prize with the East Caribbean States (2023) 2 Dollars note. This colorful note features shades of yellow, blue and red throughout, adorned with several images that commemorate the 40th anniversary of the Organisation of Eastern Caribbean States (OECS). The imagery on brightly colored note includes the Central Bank headquarters building, the 40th anniversary logo, turtles, fish and cricket legend Sir Isaac Vivian Alexander Richards.



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2022 - Philippines

The Philippines won its second Note of the Year award in 2022 for its light blue Philippines, Bangko Sentral 1,000 Piso note, which was printed by the Reserve Bank of Australia. This miniature work of art represents several popular themes of its nation, including two Philippines symbols: the critically endangered Philippine eagle and a holographic rendition of the Sampaguita, which is the country's national flower.



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2021 - Mexico

In 2021, the IBNS's vote was a tight one between first and second place notes, with the Mexico, Banco de Mexico 50 Pesos note coming out on top. The vertical polymer note features a rendering of Tenochtitlan in the background, which was the capital of the Aztec empire. Meanwhile, the reverse features a prominent salamander (called an axolotl) that is found in Mexico City’s waterways. The award-winning note's design highlights Mexican cultural and historic characteristics, while also adding significantly improved security features to the notes.



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2019 - Aruba

For the first time in almost three decades, the Central Bank of Aruba completely redesigned its banknote series. What came to be known as the "Stars of Aruba" series was released in 2019 to the small Caribbean island’s 120,000 residents through a campaign that utilized both humor, public interaction and a mobile app. The bright green and blue colors truly pop on the note, which also features artistic elements from Aruban culture, flora and fauna, helping Aruba to earn its first-ever Note of the Year award.



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2017 - Switzerland

After IBNS voting completed in 2017, the Swiss National Bank was once again awarded the note of the year for its Switzerland, National Bank 10 Franc note. As the fourth consecutive hybrid/polymer note to win the coveted IBNS Bank Note of the Year Award, the note was part of the first new design that the bank had released in 20 years. Depicting hands conducting an orchestra with a globe showing time zones and the punctual Swiss rail system, each note from the new 9th series featured national experiences and abstract themes.



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2013 - Kazakhstan

According to the IBNS, voting was closer than ever before when it came to first place for the 2013 award, with Kazakhstan winning an extremely tight race against Canada and Fiji. The winning Kazakhstan, National Bank 1,000 Tenge note was produced in collaboration with the National Bank of Kazakhstan and De La Rue Currency of England. Warm hues of yellow, brown and gold are seen throughout the note, which also features renderings of a monument dedicated to Kul Tigin and a prominent landmark situated in Independence Square named the Kazakh Eli Monument.



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2010 - Uganda

Similar to the previous note on our list, the Uganda, Bank of Uganda 50,000/- Shillings note that won the award in 2010 was also produced in collaboration by British security printers De La Rue. The note has numerous fine details, including the watermark of the head of a crested crane, an outline of a map of Uganda, silverback gorillas and the Independence Monument, which was erected to celebrate Ugandan independence in October 1962.



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2008 - Samoa

For the 2008 award, multiple banknotes from the Pacific region were in contention for the top prize, but the Central Bank of Samoa’s 20 Tala note came out victorious. Once again printed by UK-based De La Rue Currency, the bold yellow and gold note highlights Samoa's tourism with one of the nation’s picturesque waterfalls on the front. Meanwhile, the back design also deserves praise for showcasing Samoa’s national bird, the Manumea, and its national flower, the Teuila, each representing some of the uniqueness of Samoa’s natural environment.



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2004 - Canada

Canada has the distinction of winning the inaugural IBNS Notes of the Year Award in 2004. Becoming a collector favorite upon its release, the Canada, Bank of Canada 20 Dollar note prominently features a portrait of Queen Elizabeth II on the front. The winning note was not only revered for one of the finest portraits of the mature monarch to ever appear on paper money, but it also included the most advanced security features of its time, with a holographic stripe, a high-quality watermark, a color-shifting security thread and highly developed fluorescent features that were ahead of their time.



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If you're interested in more inspiring banknotes, check out our other Collection Inspiration columns for more collecting ideas, including ones centered on tiny notes and unusual denominations. Also, be sure to follow PMG on Facebook, on Instagram and on Twitter for other articles and interesting notes posted daily.

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