h y b r i d - b a n k n o t e s


view all my other world banknotes alphabetically

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below are countries that have issued hybrid banknotes since 1995

| 1995 | canada | 2005 | bulgaria | 2006 | kazakhstan | 2007 | fiji | latvia | qatar | 2008 | swaziland | mauritania | tonga | samoa | bermuda | 2009 | papua new guinea | jamaica | 2010 | mongolia | tajikistan | oman | sudan | 2011 | gibraltar | united arab emirates | 2012 | morocco | suriname | 2013 | bhutan | solomon islands | iceland | russia | 2014 | scotland - the royal bank of scotland | madagascar | iraq | 2015 | central african states | burundi | european union | lesotho | 2016 | switzerland | seychelles | lebanon | 2017 | the bahamas | 2018 | malaysia | south africa | armenia | 2019 | poland | cambodia | zimbabwe | comoros | 2020 | ???? | 2021 | ???? | 2022 | algeria | 2023 | ???? | 2024 | ???? | 2025 | namibia | 2026 | ???? | ????
...As the heading goes, this site is dedicated to Hybrid banknotes only. This is a very specialised area of collections and in general, Hybrid banknotes are usually printed on high denominations or the top end of currency of a country. However despite saying this, there are few exceptions where Hybrid banknotes are printed on an entire series. I believe there are less than 300 pieces of Hybrid banknotes issued so far (including reprints), and apart from one or two pieces, the rest are still obtainable to collectors.


"there are no borrowed scans used here. all notes displaying here are mine"

any comments are always welcome and all comments are subject to approval, usually within 24/48 hours

01 January, 2026

...Poland - 20 Zlotych 2025 Commemorative 1000th Year Coronation of Boleslaw I First King of Poland Hybrid

Rzeczpospolita Polska
(Republic of Poland)

Naradowy Bank Polski
(National Bank of Poland, Est.1945)
Currency - Zloty (PLN)

 

Here is another commemorative note of 20 zlotych (hybrid) officially released on 05.11.2025. Like all previous commemorative notes issued, this one is also released in a simple folder and is not intended for general circulation, as this note is sold at a premium. In addition to these banknotes, commemorative coins minted in gold and silver were also released in April 2025 honoring the reign and coronation of Boleslaw the Brave. 

This is the 17th commemorative banknote issued by the National Bank of Poland since 2006. The bank has the ability to issue commemorative banknotes as the country has not adopted the Euro Currency system yet. The country has not set a target to do so, and as long as they have their own currency, we may see more commemorative notes coming out of the central bank. 

At the moment, the only country that has issued more commemorative banknotes than Poland is Transnistria. However, Transnistria is not a recognised nation, so technically, Poland is the only country in Europe that has released the most commemorative banknotes so far. 

I must say that I was a bit surprised when I received this note as to me, this is a large size note for a face value of 20 zlotych. I am just wondering why they decided to print this commemorative note in such a large size as all previous commemorative notes issued since 2006 are all much smaller. 

 

Twenty Zlotych (Hybrid)

Front - This note commemorates the 1000th year of the Coronation of Boleslaw I, King of Poland. According to legend, he died two months after his coronation on 17.06.1025. At the time of this death, he was 58 years old. The front of the note depicts the portrait of Boleslaw I the Brave (b.967-1025) with his right hand clutching a sword. I believe this image is derived from a portrait painting by Marcello Baciarelli completed in c.1770. Boleslaw I is also known as Boleslaw the Great and was the first King of Poland. The current 20 zlotych circulating note is also printed with his image on the front. Boleslaw was the son of Poland's first Christian ruler Duke Mieszko. Boleslaw inherited his father's realm in 992. 

Whilst to me it is a bit strange to see a country which is now a Republic, yet celebrating a past Monarch figure on a banknote. However, this is not the first time that this is happening as many previous issues were the same including many commemorative coins issued too.

Signatures
President (Prezes) - Adam Glapinski (since 2016)
Chief Treasurer (Główny Skarbnik) - Barbara Jaroszek (since 2017)

Sizes - 171mm x 85mm

Watermarks - im­age of a fragment of the bordure of the Gniezno Doors and the notation of the coronation year of Boleslaus the Brave (electrotype 1025)

Quantity - 70,000 sets

Issue price - 160 zlotych

Period of sale - until 05.11.2028 unless all sold out prior

Hybrid

Back - To the left is an image of a silver coin struct under Boleslaw I the Brave. The design of this coin depicts the silhouette of a crowned eagle bird and the inscription Prince Polonie. To the right it features the Lance of Saint Maurice. In the middle it depicts a section of the Gniezno doors, which adorn the entrance to the cathedral in Gniezno.

Full list of all commemorative note folder issues since 2006

2006 - 50zl Pope John Paul ll First Death Anniv : qty 2.0M (i/p 90zl)

2008 - 10zl Regaining Independence 90th Anniv : qty 80,000 (i/p 15zl)

2009 - 20zl Poet Julius Slowacki 200th Anniversary : qty 80,000 (i/p 80zl)

2009 - 20zl Frederic Francois Chopin 200th Birth Anniv : qty 120,000 (i/p 50zl)

2011 - 20zl Marie Sklodowska Curie Nobel Price 100th Anniv : qty 60,000 (i/p 60zl)

2014 - 20zl Polish Legions 100th Anniv [polymer] : qty 60,000 (i/p 50zl)

2015 - 20zl Jan Dlugosz 600th Birth Anniv : qty 30,000 (i/p 72zl)

2016 - 20zl Baptism of Poland 1050th Anniv : qty 35,000 (i/p 75zl)

2017 - 20zl Mother of God 300th Coronation Anniv : qty 55,000 (i/p 60zl)

2018 - 20zl 100th Year of Independence : qty 50,000 (i/p 75zl)

2019 - 19zl Polska Wytwornia Papierow Wartosciowych 100th Anniv [hybrid] : qty 55,000 (i/p 80zl)

2020 - 20zl Battle of Warsaw 100th Anniv : qty 60,000 (i/p 80zl)

2021 - 20zl It's Worth Being A Pole : qty 80,000 (i/p 100zl)

2022 - 20zl Protection of the Eastern Front : qty 80,000 (i/p 50zl)

2023 - 20zl Nicolaus Copernicus 550th Birth Anniv [polymer]: qty 100,000 (i/p 160zl) 

2024 - 20zl 80th Anniversary of the Warsaw Uprising 1944: qty 80,000 (i/p 140zl)

2025 - 20zl 1000th Anni. [hybrid] of the Coronation of Boleslaus the Brave: qty 70,000 (i/p 160zl)


05 December, 2025

...Namibia - 2025 Series Full Set (Hybrid for $10 and $20)

Republic of Namibia

Bank of Namibia (Est.1990)
Currency : Dollar (NAD)

 

Here, I have posted a full for five notes all reportedly released on 30.09.2025. The themes for this series are the same as those previously issued but with modified designs and additional security features added to the notes. On the front, the notes depict two Namibia national heroes and on the back it features all four-legged wild animals.

The two lower denominations of $10 and $20 are printed on Hybrid substrate materials and both have a transparent square window in the center right. The transparent window is measured 10 x 10mm. The remaining three notes are all printed on paper materials.

 

All notes are printed with the year date of 2025 on the back. The signature on each note is printed on the front and the serial number is also printed on the back.


Ten Dollars (Hybrid)


Front - On the front, the note depicts the portrait of Samuel Shafiishuna Daniel Nujoma (b.1929-2025). Samuel Nujoma was a Namibian revolutionary, anti-apartheid activist and served three terms as the first president of Namibia from 1990 to 2005. Namibia was once known as South West Africa, and was occupied by the Germans from 1884 to 1915. The South African forces (British) defeated the Germans occupier in 1915 during the First World War and in 1920, the League of Nations (similar to today's United Nations) granted the territory to South African rule. Fighting for independence started in 1966 between People's Liberation Army of Namibia and South African Defence Force and the war was called the South African Border War and this war was closely intertwined with the Angola Civil War (1975-2002). The war ended when the Tripartite Accord was signed by Angola, Cuba and South Africa and Namibia gained independence on 21.03.1993. In Namibia, Samuel Nujoma is known as the Founding Father of the Namibia Nation. To the center left is the Parliament building located in Windhoek, the capital city of Namibia. 

Governor - Johannes !Gawaxab (tenure since 2020)

Date - 2025

Watermark - Springbok and electrotype 10

Sizes - 130mm x 70mm 

Back - Two Springbok (or Speingbuck) looking out for predators. The Springbok is an antelope and mainly found in south and southwest Africa (Namibia).


Twenty Dollars (Hybrid)


Governor - Johannes !Gawaxab (tenure since 2020)

Date - 2025

Watermark - Red hartebeest and electrotype 20

Sizes - 135mm x 70mm  

Back - Two Red hartebeest looking out for predators. The Red hartebeest is also known as Cape hartebeest or Caama. There are approximately 130,000 of these animals living in the wild. The Red hartebeest, is also an antelope, and can be found mainly in the southern part of Africa, like in countries of Angola (southern part), Namibia, Botswana and South Africa.



Fifty Dollars (Paper)


Front - The portrait of Captain Hendrik Witbooi (b.1830-1905) who was a chief of the Ikowesin people and he led revolts against the German occupation in present-day Namibia. He was killed in action in 1905, and in Namibia, he is one of the national heroes of Namibia. His image has appeared on Namibia banknotes since the first series issued in 1993.

Governor - Johannes !Gawaxab (tenure since 2020)

Date - 2025

Watermark - Kudo and electrotype 50

Sizes - 140mm x 70.5mm  

Back - Five kudus (males and females) in an open field. The kudu also belongs to the antelope species.


One Hundred Dollars (Paper)


Governor - Johannes !Gawaxab (tenure since 2020)

Date - 2025

Watermark - Oryx and electrotype 100

Sizes - 148mm x 70mm  

Back - Three oryx from southern Africa. The oryx species in southern Africa is called the gemsbok and they can be found in the arid regions of the Kalahari and Namib deserts. These are large antelopes which are well adapted to servive with very little water in the wild. The gemsbok can be found in South Africa, Namibia, Botswana and part of Zimbabwe.

 

Two Hundred Dollars (Paper) 

Governor - Johannes !Gawaxab (tenure since 2020)

Date - 2025

Watermark - Roan antelope and electrotype 200 

Sizes - 152mm x 70mm  

Back - Three roan antelope standing in the open field. The Roan antelopes are savanna-dwelling antelope and can be found in central and southern Africa.  


13 November, 2025

...The Bahamas - $1 Series 2024 Reprint Hybrid

Commonwealth of The Bahamas

Central Bank of The Bahamas (Est.1974)
Currency : Dollar (BSD)
 
This is a reprint of the $1 Hybrid note first introduced on 27.09.2017. This note was printed by Giesecke & Devrient and was part of the CRISP Evolution (CE) family of notes.
 
Posted here is a reprint and was introduced on 03.02.2025. This note is printed with the year date of Series 2024. The design for this note is that same as the initial series but with the following improvements: -
 
1) The colours are more vibrant to avoid the confusion with the current $10 series; and
2) It has a wider security thread on the back of the note; and
 
Like the previous issue, this note is also printed by Giesecke+Devrient on Hybrid Green Banknote substrate. It is claimed that this banknote is a more environmentally friendly version of its legacy Hybrid technology boasting more sustainable components that would last longer, with an overall lower carbon footprint.
 
One Dollar Hybrid
 
Front - The note is predominantly green, with shades of lilac, grey, burnt orange, and yellow. The map of The Bahamas islands is printed on the center left and the Lignum Vitae flower in the center. To the right is the portrait of Sir Lynden Oscar Pindling (b.1930-2000). Sir Lynden Pindling was the first black premier of the Colony of the Bahamas Islands from 1967 to 1969 and then as Prime Minister of the Bahamas from 1969 to 1992. In the Bahamas, he is considered as the 'Father of the Nation'.
 
Governor - John A Rolle (since January 2016)
Date - Series 2024
Watermark - Sir Lynden Oscar Pindling and numeral $1

Dimensions - 157mm x 68mm
 
Back - Drum Major in full regalia marching, leading the Royal Bahamas Police Force marching band with the trailing with band members adjacent. It is not sure if this Drum Major
 

 

25 September, 2025

...eSwatini - 10 and 20 Emalangeni 1.4.2024 Hybrid

Umbuso weSwatini
(Kingdom of eSwatini)
 
Central Bank of eSwatini (Est.1974)
Currency - Lilangeni (SZL)
 
Here are the two notes of 10 and 20 emalangeni both printed with the date of 1.4.2024. These are the first denominations of 10 and 20 emalangeni printed with the new name of the country, eSwatini since the name was adopted on 19.04.2018. Since the name changed, the central bank has printed/issued all denominations from 10 to 200 emalangeni. However, the 100 emalangeni has not been sighted, but is believed that this denomination has been printed. In addition, the bank has also issued a 50 emalangeni dated 1.4.2024 commemorative note celebrating the country's 50th Year Central Bank. 

Like all notes previously issued since 2018, these two notes are also printed on hybrid materials and are both printed by Giesecke+Devrient Germany.
 
Ten Emalangeni
Minister For Finance - Neal K. Rykenberg (tenure 2018-)
Governor - Dr Philemon F. Mnisi (tenure 2022-)
Date - 1.4.2024
Watermark - Portrait of King Mswati III
Dimensions - 144mm x 70mm

Front - Portrait of King Mswati III. King Mswati was crowned King of Swaziland on 25.04.1986 at the age of 18. The Kingdom of eSwatini is ruled by an absolute monarch/subnational monarchs and is one of the only 12 remaining nations in the world that is ruled by an absolute monarch. In the center is the country's Coat or Arms and below that are the signatures of the Minister of Finance and the Bank Governor.

Back - Image of nine princesses each holding a weapon in one hand and a ceremony shield in the other performing the kingship ceremony (Incwala) dance. The Incwala is a national event that takes part during the summer solstice. This is a six-day festival event celebrating the harvest season and the kingship. The ceremony is attended by the King of eSwatini. Who are all these princesses? The current king has 45 children from 16 wives, but not sure how many are girls.

Twenty Emalangeni
Minister For Finance - Neal K. Rykenberg (tenure 2018-)
Governor - Dr Philemon F. Mnisi (tenure 2022-)
Date - 1.4.2024
Watermark - Portrait of King Mswati III
Dimensions - 148.5mm x 70mm

Back - The theme on the back is related to agricultural products of the country. The images printed on the back are corn, pineapple, a zebu (cattle), and refinery industry. Presumably, this is related to sugar and ethanol production. The sugar production is a significant contributor to the country's economy, with two sugar mills operated by the Royal Eswatini Sugar Corporation. 

19 July, 2025

...Bhutan - 1 and 10 Ngultrum Series 2019 Hybrid Notes

འབྲུག་རྒྱལ་ཁབ
Kingdom of Bhutan
 
Royal Monetary Authority of Bhutan, Est.1982
Currency - Ngultrum (BTN)
 
Below are the two notes of 1 and 10 ngultrum both issued as part of the 2019 series. It is believed that these are the two notes released with the year date of 2019. I believe both notes are printed on hybrid materials, just like those first released in 2013 (Series 2013). Nothing has changed on the design except the year date and signature on the two notes.
 
One Ngultrum (Replacement Prefix Z)
 
Signature - Dasho Penjore (tenure 2015-)
Issue - Series 2019
Dimensions - 121mm x 60mm
 
Front - Image of Dharmachakra surrounded by two mythical dragons. A Dharmachakra is a circular symbol used mainly in the Dharmic religions of Buddhism, Hinduism and Jainism. The Dharmachakra resembles a ship's helm wheel.This note that I have posted here has a Z replacement prefix.
 
Back - Simtokha Dzong (castle-monastery). This monastery was built in 1628 by Zhabdrung Ngawang Namgyal. This is one of its kind built in Bhutan. This Dzong is located approximately 5 kilometers south of Thimphu, the capital of Bhutan.

 
Ten Ngultrum 
 
Signature - Dasho Penjore (tenure 2015-)
Issue - Series 2019
Watermark - Jigme Singye Wangchuk
Dimensions - 126mm x 65mm
 
Front - Portrait of King Jigme Singye Wangchuk (b.1955-). Jigme Singye Wangchuk was the King of Bhutan from 1972 to 2006 when he abdicated in favor of his son, Jigme Khesar Namgyel Wangchuck. Jigme Singye Wangchuk is married with four wives. His second and third wives are sisters. In Bhutan, the law allows for both polyandry and polygamy.
 
Back - The building of Paro Rinpung Dzong. This is a large dzong (Buddhist monastery) and was constructed in 1646. This dzong is located in the town of Paro. Paro is situated south-west of the capital Thimphu and is about 50 kilometers drive by car.