Dominican dollar
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The dollar was the currency of Dominica until 1862 and again from 1913. The East Caribbean dollar currently circulates.
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[edit] First dollar
The first dollar consisted of various cut or holed Spanish dollars and other Spanish colonial coins. The dollar was subdivided into bits (worth 9 pence). Before 1813, there were 11 bits to the holed dollar (12½ bits to an unholed dollar). After 1813, there were 16 bits to the holed dollar (18 bits to an unholed dollar). In 1862, sterling was established as the official currency of the island.
[edit] Coins
The first series of coins was produced between 1791 and 1798 in denominations of 1½, 5½ and 11 bits, with the 5½ bits holed 4 reales coins, the 11 bits holed 8 reales coins and the 1½ bits the plugs from producing the 11 bits coins.
The second series was issued in 1813 and consisted of 3, 4, 6, 12 and 16 bits. The 12 and 16 bits were holed 8 reales coins, with the plugs from the 12 bits used to make the other coins. Whole plugs made the 6 bits, halved plugs made the 3 bits and the plugs were themselves holed to make the 4 bits.
The third series was issued between 1816 and 1818 and consisted of 2 bits and 2 shillings 6 pence (marked 2/6, equal to 3⅓ bits). The 2 bits were holed 2 reales coins whilst the 2/6 coins were quartered 8 reales coins.
[edit] Second dollar
In 1913, the first private banknotes were issued, denominated in dollars. From 1920, some of these notes were also denominated in sterling, with 1 dollar = 4 shillings 2 pence. In 1935, the British West Indies dollar was introduced, equal in value to the Dominican dollar and other dollars circulating in the British West Indies. Private banks continued to issue notes until 1941. The British West Indies dollar was replaced in 1965 by the East Caribbean dollar.
[edit] Banknotes
The Royal Bank of Canada introduced 5 dollar notes in 1913, continuing to issue them until 1938. The Colonial Bank issued 5 dollars notes until 1926, after which Barclays Bank (which had taken over the Colonial Bank) began issuing 5 dollars notes and continued until 1941.
[edit] References
- Krause, Chester L. and Clifford Mishler (1991). Standard Catalog of World Coins: 1801-1991, 18th ed., Krause Publications. ISBN 0-87341-150-1.
- Pick, Albert (1990). Standard Catalog of World Paper Money: Specialized Issues, Colin R. Bruce II and Neil Shafer (editors), 6th ed., Krause Publications. ISBN 0-87341-149-8.
[edit] External links
- The Global History of Currencies - Dominica
- Global Financial Data currency histories table (
Microsoft Excel format)
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