header Notes Collection

1 Dollar 1998, Cayman Islands

in Krause book Number: 21a
Years of issue: 1998
Edition: 1 700 000
Signatures: Chairman: Mr. George A. McCarthy (in office: March 1992 - 2002)
Serie: The Monetary authority Law 1996, 1998 Issue
Specimen of: 1996
Material: Cotton fiber
Size (mm): 155 х 65
Printer: TDLR (Thomas de la Rue & Company), London

* All pictures marked magnify are increased partially by magnifying glass, the remaining open in full size by clicking on the image.

** The word "Specimen" is present only on some of electronic pictures, in accordance with banknote images publication rules of appropriate banks.

1 Dollar 1998




The green sea turtle (Chelonia mydas), also known as the green turtle, black (sea) turtle, or Pacific green turtle, is a large sea turtle of the family Cheloniidae. It is the only species in the genus Chelonia. Its range extends throughout tropical and subtropical seas around the world, with two distinct populations in the Atlantic and Pacific Oceans. The common name comes from the usually green fat found beneath its carapace.

An abbreviation "CIMA" (Cayman islands Monetary Authority).


1 Dollar 1998

Portrait of the Queen

HM The Queen Elizabeth II. The photograph that was used of the Queen was taken in April 1975 by the late Reading-based photographer Peter Grugeon and later released for official use during the Silver Jubilee in 1977. It is one of the more popular images of The Queen. (Peter Symes).

Her Majesty is depicted wearing Grand Duchess Vladimir's tiara, Queen Victoria's Golden Jubilee necklace, the Royal Family Orders of King George VI and George V and Queen Alexandra's Wedding Earrings.


The Grand Duchess Vladimir Tiara.

No tiara is complete without a fascinating backstory, and this one's even got a daring escape. Made by Bolin, it glittered at the Russian royal court on the head of Grand Duchess Vladimir until the revolution, when it was left behind as the family fled. A British agent and friend smuggled it out of Russia to rejoin the exiled Grand Duchess and her collection. After her death, the tiara was bought from her daughter by Queen Mary. It's worn often today by the Queen with pearl or emerald drops, or occasionally with no drops. The pearl drop option has been the most popular with the Queen in recent years, probably owing to her love of white gowns in the evening and accompanying white jewels.

Queen Victoria’s Golden Jubilee necklace

To mark Queen Victoria’s Golden Jubilee in 1887, a committee of ladies was formed to raise money for a commemorative statue of Victoria’s late husband Prince Albert. The committee’s fundraising was quite successful, and they ended up raising far more than was required for the statue. An agreement was formed with the Queen that the excess should go to the St. Katherine’s Fund for Nurses. At the same time, some members of the committee decided that a portion of the funds should be used to purchase a necklace for the Queen - and this was also approved by Her Majesty.

The trouble was, the committee did not agree on the necklace. Some felt it would be wrong to spend the funds which had been previously devoted to charity on something else. Much discussion and debate ensued, as is described in depth in Hugh Roberts’ book The Queen’s Diamonds. (My favorite tidbit: Queen Victoria, angry that she wouldn’t get her promised necklace, shot down the prospect of a diamond badge commemorating the nursing fund by declaring she would “at once exchange it for another jewel”.

In the end, a compromise was reached and this necklace, made for £5000 (far less than the necklace originally proposed) from gold, diamonds, and pearls by Carrington & Co. was presented to Queen Victoria in 1888. It features a central quatrefoil diamond motif with a large pearl in the middle, topped by a crown and underlined with a drop pearl. The next four links in either direction are graduated trefoil motifs; the central piece and the six largest trefoils can also be worn as brooches.

Queen Alexandra’s Cluster Earrings

She is also wearing Queen Alexandra’s Cluster Earrings. The wedding gift from the future King Edward VII to his bride, Alexandra of Denmark. Also known as Queen Alexandra's Cluster Earrings, these two button earrings have large pearls surrounded by diamonds - 10 larger stones each plus smaller filler stones to create a full diamond ring. Like the brooch, these passed to the Queen via Queen Mary. They're now worn primarily at evening functions. "From her Majesty's Jewel vault".

Royal Family Orders.

King George IV started a practice in the British royal family which continues today: the awarding of family orders. These are diamond-set portraits of the monarch suspended from a silk bow (the color varying by reign), and they are today given to female royal family members of the sovereign's choosing as a personal gift.

Royal Family Order George V

Queen Elizabeth was first given her grandfather George V's order, set on pale blue silk.

Royal Family Order George VI

Followed by her father George VI's, on pink silk, and she wears them both today. (A royal lady can wear all the family orders she has at once.) The orders are positioned on the left shoulder. They are worn for the most formal events, and can usually be seen on the Queen when she's at a tiara event.

In most renditions of this portrait, the Royal Family Order of King George VI is apparent below the left-hand shoulder of Her Majesty, while the uppermost portion of the Royal Family Order of King George V is apparent in only some renditions of the portrait. (Her majesty's Jewel Vault)

The Coat of arms of Cayman islands is centered.

coat Cayman islands

The Cayman Islands’ coat of arms consists of a shield, a crested helm and the motto. Three green stars, representing each of the three inhabited Islands (Grand Cayman, Little Cayman and Cayman Brac), are set in the lower two-thirds of the shield. The stars rest on blue and white wavy bands representing the sea. In the top third of the shield, against a red background, is a gold lion passant guardant (walking with the further forepaw raised and the body seen from the side), representing Britain. Above the shield is a green turtle on a coil of rope. Behind the turtle is a gold pineapple.

The turtle represents the Caymans seafaring history,

the rope, its traditional thatch-rope industry,

and the pineapple, its ties with Jamaica.

The islands’ motto, “He hath founded it upon the seas”, is printed at the bottom of the shield. This line, a verse from Psalm 24 Verse 2, acknowledges the Caymans’ Christian heritage, as well as its ties to the sea.

The proposal for a coat of arms was approved by the Legislative Assembly in 1957, and public input was sought on its design. The Royal Warrant assigning “Armorial Ensigns for the Cayman Islands” was approved by Her Majesty’s command on 14 May 1958.


A little to left side from center is the sea shell Lobatus gigas, commonly known as the queen conch, is a species of large edible sea snail, a marine gastropod mollusc in the family of true conches, the Strombidae. This species is one of the largest molluscs native to the tropical northwestern Atlantic, from Bermuda to Brazil, reaching up to 35.2 centimeters (13.9 in.) in shell length. L. gigas is closely related to the goliath conch, Lobatus goliath, a species endemic to Brazil, as well as the rooster conch, Lobatus gallus.

The queen conch is herbivorous and lives in seagrass beds, although its exact habitat varies by development stage. The adult animal has a very large, solid and heavy shell, with knob-like spines on the shoulder, a flared thick, outer lip and a characteristic pink-coloured aperture (opening). The flared lip is absent in younger specimens. The external anatomy of the soft parts of L. gigas is similar to that of other snails in its family; it has a long snout, two eyestalks with well-developed eyes, additional sensory tentacles, a strong foot and a corneous, sickle-shaped operculum.

The shell and soft parts of living L. gigas serve as a home to several different kinds of commensal animals, including slipper snails, porcelain crabs and cardinalfish. Its parasites include coccidians. The queen conch is hunted and eaten by several species of large predatory sea snails, and also by starfish, crustaceans and vertebrates (fish, sea turtles and humans). Its shell is sold as a souvenir and used as a decorative object. Historically, Native Americans and indigenous Caribbean peoples used parts of the shell to create various tools.

International trade in queen conch is regulated under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) agreement, in which it is listed as Strombus gigas. This species is not endangered in the Caribbean as a whole, but is commercially threatened in numerous areas, largely due to extreme overfishing.

The fish shapes are in lower left and top right corners.

Denominations are in all corners in numerals. Centered in words.

Nearby denomination, in the middle, is a treasure chest.


1 Dollar 1998

On background is a seascape.

Chaetodipterus faber

In the middle is the Atlantic spadefish (Chaetodipterus faber) is a species of marine fish endemic of Angelfish to the western Atlantic Ocean. They are commonly found in shallow waters off the coast of the southeastern United States and in the Caribbean.

At the top is, again, the sea shell Lobatus gigas.

Millepora alcicornis

On left side is coral Millepora alcicornis (Linnaeus, 1758).

Millepora alcicornis, or sea ginger, is a species of colonial fire coral with a calcareous skeleton. It is found on shallow water coral reefs in the tropical west Atlantic Ocean. It shows a variety of different morphologies depending on its location. It feeds on plankton and derives part of its energy requirements from microalgae found within its tissues. It is an important member of the reef building community and subject to the same threats as other corals. It can cause painful stings to unwary divers.

The morphology of Millepora alcicornis is very variable. Most colonies probably start as encrusting forms and adopt a branching structure as they grow. The encrustations can become established on a variety of structures, not only on coral reefs and rocks but also on dead corals and the hulls of wrecked ships. Later development is in the form of plates or blades in habitats with much water movement such as the surf-pounded outer edges of reefs. In calmer waters, such as in deep lagoons or more sheltered parts of the reef, a more upright, leafy or branched structure develops which can grow to 50 centimeters (20 in.) tall. The habit of growth is also influenced by the inclination of the surface on which the fire coral grows. On vertical surfaces, the encrusting bases are larger with longer perimeters and the density of branching is lower than it is on horizontal surfaces. The cylindrical branches usually grow in a single plane and span a range of hues from brown to pale, cream-like yellow, while branch tips are white.

Embedded in the calcareous skeleton are numerous microscopic polyps. They are connected internally by a system of canals and are concealed behind pores in the skeleton, the surface of which is smooth and lacks the corallites of true stony corals. The polyps have specialist functions, the gastrozooids processing and digesting the food caught by the dactylzooids which are grouped around them. The gastrozooids are small and plump and extend four to six tentacle stubs through their pores but are otherwise invisible. The dactylzooids have hairlike tentacles covered in cnidoblasts. Stings from the cnidocysts immobilize an item of prey and the tentacles thrust it through the mouth of an adjacent gastrozooid, from where it passes into the stomach for digestion. The polyps also extrude the coenosteum, the calcareous material of which the skeleton is composed. The coenosteum contains certain symbiotic microalgae called zooxanthellae. These are photosynthetic organisms which provide their hosts with energy and in return benefit from a protective environment in a well lit position. About 75% of the fire coral's energy requirements are provided by the zooxanthellae.

Millepora alcicornis is found in the Caribbean Sea, the Gulf of Mexico, Florida, the Cape Verde Islands and along the coast of Central and South America as far south as Brazil. It has also been found in Bermuda, but the morphology at that location is so different from that in the rest of its range that it may be a distinct species. It grows at depths of up to 40 meters (130 ft.) and is the only fire coral that often grows at depths greater than 10 meters (33 ft.).

Denominations in numerals are in three corners. Lower, centered, in words.


The signature on banknote belongs to:

Mr. George A. McCarthy

Mr. George McCarthy.

George McCarthy, OBE is the former Chief Secretary of the Cayman Islands. He served as Financial Secretary for twelve years (from 1992-2004) prior to assuming the post of Chief Secretary in November 2004 until retirement in 2009. The post of Chief Secretary is the second-highest post in the Cayman Islands government and is subordinate only to the governor. He served as the acting Governor of the Cayman Islands from October to November, 2005.

His career as a civil servant started in the Internal Audit Department in 1974. He was promoted several times, moving on to become Deputy Financial Secretary in 1985. Mr. McCarthy qualified as a CPA in 1987 and then spent a few years on secondment to Ernst and Young.

McCarthy was appointed Chairman of the Cayman Islands Monetary Authority in 2009.

TDLR Portrait Bradbury Wilkinson Portrait The De La Rue engraving, as well as reflecting the differences mentioned in Portrait 17a, also represents The Queen with a more cheerful aspect, achieving this through slight differences around Her eyes and lips.

Bradbury Wilkinson's version of this portrait has less shading on The Queen's neck just above Her necklace, than is apparent on the De La Rue engravings (Portrait 17b). There are other subtle variations to the second version, noticeably in the patterns on Her Majesty's dress.

The Cayman Islands dollar was introduced in 1972, replacing the Jamaican dollar at par. Jamaican currency and Cayman Islands then remained both legal tender until 1 August 1972, when Jamaican currency ceased to be legal tender. The Cayman Islands dollar has been pegged to the United States dollar at 1 Cayman Islands dollar = 1.2 U.S. dollars since 1 April 1974.