500 Mils

This note was issued under British colonial administration, just as Cyprus was entering the most turbulent period of its modern political history — the EOKA campaign for union with Greece began in April 1955, the same year this series entered circulation. The Government of Cyprus, rather than a central bank, remained the issuing authority throughout, a colonial fiscal arrangement that persisted even as the island moved toward independence in 1960.

Bradbury Wilkinson printed the series at their New Malden works in Surrey, not central London despite the "London" credit. A minor distinction, but one that catches out careless catalogers.