Bahamian pound

The pound was the currency of the Bahamas until 1966. It was equivalent to the pound sterling and was divided into 20 shillings, each of 12 pence. Ordinary UK coinage circulated. Apart from an old Bahamas penny coin struck in 1806, there were no special sterling coin issues such as were found in Jamaica.

History

In 1825, an imperial Order-in-Council was passed for the purposes of introducing the British coinage into all the British colonies. It wasn't immediately very effective due to unrealistic ratings, and it required a further Order-in-Council to be passed in 1838. By the middle of the nineteenth century, British coinage had replaced the Spanish dollar throughout all of the British West Indies. But it was only in the Bahamas, Bermuda, and Jamaica that the pound unit of account was used. In the Eastern Caribbean territories and in British Guiana, the dollar unit of account was retained in conjunction with the British coinage at a fixed rate of one dollar equal to four shillings and two pence. Unlike in Bermuda, the US dollar circulated freely alongside the British sterling coinage in the Bahamas.

The pound was replaced by the dollar in 1966, at a rate of 7 shillings = 1 dollar (1 pound = 2.86 dollars). This rate meant that the new Bahamas dollar was at a slight discount to the US dollar.

For a wider outline of the history of currency in the region, see currencies of the British West Indies.

Coins

The only coin issued was a 1 penny coin struck in 1806. British coins circulated on the islands until 1966.

Banknotes

The Bank of Nassau initially issued notes in denominations of 5 and 10 shillings, and 1 pound. 4 shilling notes were introduced in 1906. The bank failed in 1917, and the Bahamas government took over the issuance of banknotes on the islands.^[1]

The Public Treasury issued 1 pound notes in 1868, followed by government notes in 1869 for 1 and 5 pounds. In 1919, a new series of 4 and 10 shillings, and 1 pound notes was introduced, with 5 pound notes reintroduced after 1936.

References

↑ Linzmayer, Owen (2012). "Bahamas". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.

Pick, Albert (1994). Standard Catalog of World Paper Money: General Issues. Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications. ISBN 0-87341-207-9.

External links

Currencies named pound or similar

Current	Pound sterling: (Alderney pound • Falkland Islands pound • Gibraltar pound • Guernsey pound • Jersey pound • Manx pound • Saint Helena pound) Egyptian pound Lebanese pound South Sudanese pound Sudanese pound Syrian pound Turkish lira

Local alternative currency	Bristol Pound Brixton Pound Lewes Pound Stroud Pound Totnes Pound

Defunct	Anglo-Saxon pound Australian pound Bahamian pound Bermudian pound Biafran pound British West African pound Canadian pound Connecticut pound Cypriot pound Delaware pound Fijian pound French livre:(Livre parisis • Livre tournois) French colonial livre: (Guadeloupe livre • Haitian livre • New France livre • Saint Lucia livre) Gambian pound Georgia pound Ghanaian pound Irish pound Israeli pound Italian lira Jamaican pound Japanese government-issued Oceanian Pound Libyan pound Lombardo-Venetian pound Luccan pound Luxembourgish livre Malawian pound Maltese pound Maltese lira Maryland pound Massachusetts pound New Brunswick pound New Guinean pound New Hampshire pound New Jersey pound New York pound New Zealand pound Newfoundland pound Nigerian pound North Carolina pound Nova Scotian pound Oceanian pound Ottoman lira Palestine pound Papal lira Parman lira Pennsylvania pound Pound Scots Prince Edward Island pound Rhode Island pound Rhodesian pound Rhodesia and Nyasaland pound Sammarinese lira Sardinian lira Solomon Islands pound South Carolina pound Southern Rhodesian pound South African pound South African Republic pound South West African pound Tongan pound Tuscan pound Vatican lira Virginia pound West Indian pound Western Samoan pound Zambian pound

See also	Dinar Pound sign Troy pound

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