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Banknote Book & CPG® PRICE GUIDE

Catalog & market information for bank notes issued by Royal Government of Bhutan

The first banknotes of Bhutan were issued in 1974 by the Ministry of Finance, with the name of the Royal Government of Bhutan (GOV) appearing in English on the back.

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1 ngultrum
(B101a, P1)

Worth: $1.50 - $24.30
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5 ngultrums
(B102a, P2)

Worth: $20.25 - $325
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10 ngultrums
(B103a, P3)

Worth: $54.00 - $813
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100 ngultrums
(B104a, P4)

Worth: $293 - $25,800
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1 ngultrum
(B105a, P5)

Worth: $1.50 - $4.05
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1 ngultrum
(B105as1, P5)

 
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1 ngultrum
(B105as2, P5)

 
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1 ngultrum
(B105az, P5)

 
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2 ngultrum
(B106a, P6)

Worth: $2.15 - $8.10
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2 ngultrum
(B106as1, P6)

 
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2 ngultrum
(B106as2, P6)

 
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2 ngultrum
(B106as3, P6)

 
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2 ngultrum
(B106az, P6)

 
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5 ngultrum
(B107a, P7)

Worth: $2.15 - $33.75
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5 ngultrum
(B107as1, PNL)

 
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5 ngultrum
(B107as2, PNL)

 
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5 ngultrum
(B107az, P7)

 
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10 ngultrum
(B108a, P8)

Worth: $1.50 - $27.00
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10 ngultrum
(B108as1, PNL)

 
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10 ngultrum
(B108as2, PNL)

 
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10 ngultrum
(B108az, P8)

 
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20 ngultrum
(B109a, P9)

Worth: $2.65 - $47.25
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20 ngultrum
(B109as1, PNL)

 
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20 ngultrum
(B109as2, PNL)

 
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20 ngultrum
(B109as3, P9)

 
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20 ngultrum
(B109az, P9)

 
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50 ngultrum
(B110a, P10)

Worth: $16.20 - $260
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50 ngultrum
(B110as1, PNL)

 
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50 ngultrum
(B110as2, PNL)

 
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50 ngultrum
(B110az, P10)

 
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100 ngultrum
(B111a, P11)

Worth: $33.75 - $520
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100 ngultrum
(B111as1, PNL)

 
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100 ngultrum
(B111as2, PNL)

 
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100 ngultrum
(B111az, P11)

 
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