The Isle of Man issued a £1 plastic banknote which circulated from 1983 to 1988, although Costa Rica lays claim to the first polymer note, made by Du Pont in 1982.
The embarrassing mix-up came after the Federal Reserve decided to relaunch America's most valuable banknote, which carries a host of new security features to thwart counterfeiters.
The banknote, which includes a number of new security features, will eventually take over from the note carrying Sir John Houblon's portrait.
The redesigned banknote, which features a portrait of US founding father and scientist Benjamin Franklin, also includes raised "intaglio" printing that gives the notes a distinctive feel, and microprinted words that are difficult to read without magnification.
The banknote, which will enter circulation in the next three to five years, currently features the economist Adam Smith.
The memorial is featured on the backside of the Frontier Series Canadian polymer $20 banknote, which was released by the Bank of Canada on 7 November 2012.
The Kombo Moyana series refers to a series of banknotes which carried Kombo Moyana's signature after being appointed governor of the Reserve Bank from 1983 to August 1993.
We waited in breadlines, carrying impossibly large stacks of banknotes, which had become a requirement for even the tiniest transaction.
However, he says that there is a very strong market in English banknotes, which are very popular among collectors.
The markets approve and the people are delighted to see a black man's signature on their banknotes, which are now known as "Titos".
