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1957 Bermuda 5 Shillings Replacement Banknote

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Hi everyone out there! I am quite confused with the Bermuda 5 shilling replacement note. As I was told that the Z/1 series is the replacement type, but after searching on the internet, I could not confirm that the Z/1 is truly a replacement note.

 

Could anyone out there who are more familiar with this particular series enlighten me ?

 

Thank you in advance.

 

 

 

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