...Vanuatu - 1000 Vatu 40th Anniversary of Independence 1980-2020

Ripablik blong Vanuatu

(Republic of Vanuatu / République de Vanuatu)

Reserve Bank of Vanuatu

Currency - Vatu (VUV)

Vanuatu, once known as New Hebrides Condominium (French : Condominium des Nouvelles Hebrides), was colonised by both Great Britain and France from the 18th century. Both Great Britain and France then agreed to make the islands an Anglo-French condominium in 1906 and divided the country into two separate communities; one Anglophone and one Francophone. This division means that schools in the country teach either one of the language or the other i.e. English or French. The condominium ended in 1980 when the country gained its independence and called itself the Republic of Vanuatu. To the locals, the word Vanuatu means "Our Land Forever".

Independence day was granted on 30/07/1980. Fast forward 40 years, and in 2020 the country celebrates the 40th Anniversary of Independence.

To celebrate the country's independence anniversary, the bank issued a 1000 vatu polymer note to commemorate this special occasion. This note was released on 23/07/2020 with the 40 years Independence logo overprint on the current 1000 vatu polymer note. In addition to this, it also celebrates the successful implementation of Vanuatu's new family of banknotes and coins from the vatu currency reform. Vanuatu adopted the vatu currency in 1981 and in 1982 issued its own first currency of 100, 500 and 1000 vatu. These three paper banknotes were also sold in a simple brown album souvenir set all with matching serial numbers. Prior to this, the country's currency was called New Hebrides franc. The vatu is a single unit of currency with no subdivision i.e only dollars but no cents.  However I am not sure as to why the currency unit did not start with one vatu and have subdivisions like many other countries do. This would definitely eliminate at least three zeros on the currency value. It would be interesting to know why. Perhaps this was not to confuse the locals as they were already used to the previous currency system of the New Hebrides franc which were also with values from 100, 500 and 1000 francs.

The design of this note is the same as the current 1000 vatu polymer note first issued in 2014. However to commemorate this special occasion, it added the anniversary logo onto the note. The anniversary logo consists of the nation flag, the numeral 40, the year 1980-2020 and a single word in English 'Independence'.

Vanuatu has in the past issued banknotes to celebrate its independence anniversary;

200 Vatu nd1995 - 15th Anniversary of Independence (1980-1995);

1000 Vatu nd2005 - 25th Anniversary of Independence (1980-2005);

10000 Vatu nd2010 - 30th Anniversary of Independence (1980-2010). 

Governor - Mr. Simeon Malachi Athy
Minister of Finance - Maki Standley Simelum
Size - 140mm x 65mm

All notes are printed with the prefix of VU40. Judging by the prefix and serial numbers, it is believed that the maximum notes printed was one million pieces. It is not sure if any replacement prefix is printed for this series.

One Thousand Vatu

Dated 2020, Melanesian chief standing with spear

Reverse - agricultural, cows, farming

Footnote:
I am a bit confused here with the signature for the Minister of Finance. It appears that this note has the two signatures of Mr. Simeon Malachi Athy (Governor) and Maki Standley Simelum (Minister of Finance between 01/05/2013 - 11/06/2015). This is the same note as the 1000 vatu first issued in 2014. According to the Vanuatu Parliament website, the current Minister of Finance is Johnny Koanapo Rasou who was appointed on 20/04/2020 following the last general election. Prior to that this position was occupied by Gaetan Pikioune (Minister of Finance 11/02/2016 - 20/04/2020). The last known note issued prior to this was the 500 vatu nd2017 commemorating the Pacific Mini games with the signature of Gaetan Pikioune. This new 1000 vatu note and the one previously issued (500 vatu nd2017 commemorative) do not share the same signature for the Minister of Finance. So, how does this work? It is very unlikely that this new 1000 vatu commemorative note was ordered and printed after the appointment of Johnny Koanapo in April 2020 as it would not have sufficient time to have them ready by July 2020. Below I have also posted the 2014 first issue of the 1000 vatu for comparison.

One Thousand Vatu (nd2014 normal circulating issue)

nd2014 issue

So what are the possibilities here?
1) Could it be that this note was planned way ahead during the tenure of Maki Simelum as the Minister of Finance between 10.05.2013 to 11.06.2015? If not, then it should have the signature of Gaetan Pikioune instead as he was the Minister from February 2016 to April 2020; or
2) Could it be that the bank used the current stock and only added the commemorative logo and the new prefix on it. Do they just print banknotes without the serial number for future use? Is this possible? 

My conclusion on this is that this commemorative note was printed between 2014 to 2015 when Maki Simelum was still the Minister of Finance or it was printed together with the 2014 prints in readiness for this 40th year independence celebration.

If anyone out there has an explanation to this mystery, I would like to hear from you.