500 Shillings

Uganda's 1986 issue followed the overthrow of Obote's second government by the National Resistance Army in January of that year. Yoweri Museveni's new administration retained the existing Bank of Uganda note series rather than immediately commissioning a replacement currency — a pragmatic decision that meant notes like this 500 Shillings circulated under a government whose name didn't appear on the paper.

Thomas De La Rue had been printing for Uganda since independence. The watermark security on this issue is minimal by the firm's own standards for the period, reflecting the constrained budget of a country emerging from years of severe economic mismanagement.