193)
East Caribbean Currency and Coinage: East Caribbean Dollar and Cents:
For some other interesting posts on currencies of the Caribbean Sea and Atlantic Ocean, please visit the following links:
For some other interesting posts on currencies of the Caribbean Sea and Atlantic Ocean, please visit the following links:
The East Caribbean Dollar
(EC$) is the currency of 8 of the 9 members of the Organisation of Eastern
Caribbean States, sub-divided into 100 cents.
History
of the Islands:
Although, Columbus, during
his voyages, claimed some of the islands of the Eastern Caribbean and they were
originally colonised by Spain, France and Britain fought them over their
possession in the 17th and 18th Centuries, till
ultimately, they came to be occupied/controlled by Britain and became a part of
British Overseas Territories, which were otherwise, known as “Crown Colonies”.
Until 1955, these
islands used British Currency, whereafter, the “Currency/Coinage of the “British East Caribbean Territories”
was introduced.
The standard issues of the
British East Caribbean Territories had a crowned portrait of Queen Elizabeth II
on the Obverse faces and
numerals on 1,2, 5 and 10 cents denomination coins, and Columbus’ Flagship, the
Santa Maria along with the numeral (on 10 cent coins) on the Reverse of these denominations.
The 50 cents coin had Neptune driving a sea chariot on the Reverse.
In 1958, these
Crown Colonies of the Eastern Caribbean, joined together to form the “West Indies Federation” (formerly
referred to as the “British West
Indies” or the “Beewee”
– a nickname given to the British West Indies), but when the Federation broke up, these islands were granted Associate
Statehood with local self-government, as a preliminary step towards their
achieving full independence within the British Commonwealth.
Historical
Evolution of the East Caribbean Currency & Coinage:
In 1704, Queen Anne’s Proclamation
introduced the Gold Standard
to the group of Islands referred to as the British West Indies.
In 1822, the
British Government introduced ¼, 1/8 and 1/16 fractional “Anchor dollars” for circulation in Mauritius and the British
West Indies.
In 1825, there was
an attempt to introduce British sterling silver coinage to the Colonies through
an Imperial Order-in Council.
This was inspired by the fact that Mexico
(where the most popular Spanish Gold and silver coins were minted), was in
upheaval, with the Spanish occupiers having been overthrown by an Armed
Insurgency by the Mexicans, who had gained complete Independence from Spain in
1821. The War had led to the looting of Mexican silver by the fleeing Spaniards,
as such, the output of silver coins from the Mint of Mexico/Insurgent Mints had
drastically reduced. It is believed
that the last of the Spanish dollars was minted at Potosi Mint in 1825.
Nevertheless, until the late
1870s, Spanish silver pieces of
eight minted in the Mint of Mexico, which circulated along with British
coinage, continued to be the most popular coin in circulation all over the
islands.
As a result, the 1825 British Order –in-
Council proved to be a non-starter/failure, primarily, due to an unrealistic
exchange rate of one Spanish dollar ($1) being placed at an exchange value of 4
shillings and 4 pence.
The
reality of the rating between the dollar and the pound was based on the silver
content of the Spanish pieces of eight as compared to the gold content of the
British Gold Sovereign. In Jamaica, Bermuda and British Honduras, the exchange
rate of 1 Spanish dollar to 4 British shillings was found to be more popular
with the users in view of the more reasonable exchange rate.
In 1838, a second Imperial Order-in–Council
was passed in which the Exchange rate of one Spanish dollar was placed at 4
shillings 2 pence, which was a more
reasonable exchange rate of exchange than before. Nevertheless, once again,
the Spanish/Mexican dollar still
remained the most popular coin in circulation.
In keeping with the Second
Order-in-Council, the British West Indian territories began to enact
legislation for the purpose of aligning the local currencies in line with the
values of the British Pound defined in the Second Order-in-Council.
Meanwhile, in 1851
gold was discovered in Australia in huge amounts and silver began to lose its
“attraction” as a favoured precious metal coin, in favour of gold coins.
In 1873,
legislation was passed in individual territories to demonetise the
Spanish/Mexican silver dollars. Even
though the British coinage was also silver, it was based on fractions of the
Gold Sovereign, therefore, its value was based on the Gold Standard.
Gradually, the British Pound gained substantial acceptance all over the West
Indies and by the beginning of 1880s had been accepted as a medium of exchange
in place of the Spanish dollar.
In 1946, based on a
decision taken in a West Indies
Currency Conference, Barbados, British Guiana, the Leeward Islands,
Trinidad and Tobago and the Windward Islands resolved to establish a Unified Decimal Currency System
based on a West Indian dollar (BWI$),
which would replace the current arrangement
of having three different Boards of Commissioners of Currency – established
for Barbados & Leeward and Windward Islands, British Guiana and Trinidad
and Tobago.
In 1949, the dollar
system of accounts was formalised for British Guiana and the Eastern Caribbean
territories, by introducing the “British West Indies dollar” (BWI$) – nicknamed
as the “Beewee dollar” – at
the prevailing exchange rate of BWI$ 4.80 to a Pound Sterling.
In 1950, the British Caribbean Currency Board (BCCB)
was set up in Trinidad which was tasked with issuing Banknotes and coins under
the Unified Decimal Currency System
for the member countries.
In 1951, the
British Virgin Islands joined the arrangement, but withdrew in 1961,
adopting the US dollar instead.
By 1955, decimal
coins denominated in cents, replaced the Pound Sterling coins.
In 1958, the West Indies Federation came into
existence with the BWI$ as its currency. However, Jamaica, although a member of
the Federation, retained the Jamaican Pound, although it had adopted the BWI$
formally in 1954 as legal tender.
In 1964, Jamaica
did away with the legal tender status of the BWI$, while Trinidad and Tobago
withdrew from the Currency Union. In the same year the BCCB was shifted to Barbados for operational convenience.
In 1965, as the West Indies Federation for all practical
purposes stood dissolved/defunct, the BWI$ was replaced at par with the
East Caribbean dollar, while the BCCB was replaced by the Eastern Caribbean Currency Authority (ECCA).
In 1966, British
Guiana withdrew from this arrangement while in 1968, Grenada joined the
Union.
In 1972, Barbados
left the Currency Union. In the same year, the
ECCA Headquarters were shifted to St Kitts from Barbados, as Barbados had left
the arrangement.
Between 1965 and 1983,
the Eastern Caribbean Currency Authority issued EC$, with Banknotes being
issued from 1965 onwards and Coins from 1981.
On 05.07.1983,
through an agreement signed at Port of Spain, the Eastern Caribbean Currency Authority
was replaced by the Eastern Caribbean
Central Bank (ECCB) which still supervises the issue of EC$ currency from its Headquarters based at Basseterre in
Saint Kitts and Nevis.
The
Front of all the Banknotes has a portrait of Queen Elizabeth II, as do the
Obverses of all coins issued for circulation among the members of the OEC. This
is because, she is still the Head of all the States and Territories using the
EC$ except for Dominica which is a member of the Commonwealth of Nations which
recognises the Queen as the Head of the Commonwealth.
In 1980, the
appellation “British” was dropped and the currency/coinage came to be called “East Caribbean Territories”
currency/coinage.
The Coins
of the East Caribbean Territories
have a bust of Queen Elizabeth II on the Obverse
and numerals 1, 2 and 5 on the smaller denomination coins flanked by a laurel
branch on either side while the higher denomination coins had a depiction of
the Santa Maria (10 and 25 cents and $1 coins) on the Reverse faces. Similarly, on Banknotes, Queen Elizabeth’s effigy appears on the
Banknotes, in her capacity as the Head of the Commonwealth of Nations which
recognises the Queen as the Head of the Commonwealth.
The
Eastern Caribbean Central Bank (ECCB):
The Eastern Caribbean Central Bank (ECCB) was established in October
1983.
It is the Monetary Authority to the Eastern Caribbean Currency Union
which is also a part of the Organisation
of Eastern Caribbean States (OEC) of which – Antigua and Barbuda,
Dominica, Grenada, St. Kitts and Nevis, St. Lucia and St. Vincent and the
Grenadines (all six are independent
states) and Anguilla and Montserrat (both are British Overseas
Territories (BOTs) are
all members of. The ninth OEC member is
the British Virgin Islands, which is the only exception, which uses the US
Dollar).
The
Currency Union is supervised by the Eastern Caribbean Central Bank (ECCB) and
has a common currency – the East Caribbean Dollar.
The ECCB was established
with the primary objective to maintain stability of the East Caribbean dollar
(EC$) and the integrity of the Banking system so as to act as a facilitator for
balanced growth and development of member countries.
Previous
members:
Till 1966 and 1972,
British Guiana and Barbados were both members of the OEC respectively, whereafter, they have their own
independent currencies.
Trinidad and Tobago was a
member of the predecessor Union to the OEC, the British West Indies Currency
Union (BWICU) but withdrew from it in 1964.
On 29.01.2009, the
ECCB issued a new one dollar commemorative
coin to celebrate the Bank’s 25th anniversary on 01.10.2008.
The coin was round with a ribbed edge and depicted Queen Elizabeth II’s effigy
on the Obverse and the
Central Bank’s motto “TOGETHER WE STAND” on the Reverse.
Evolution
of the Eastern Caribbean Central Bank issued Banknotes:
Between 1950 and 1965,
Banknotes were issued by the British
Caribbean Currency Board (BCCB).
In 1965,
the East Caribbean Dollar replaced the British West Indies Dollar.
The Eastern Caribbean Currency Authority circulated East
Caribbean Banknotes in the denominations of 1, 5, 20 and 100 dollars. These
Banknotes on the front depicted the
1956 portrait of Queen Elizabeth II in the regalia of the Order of the Garter,
which was designed by Pietro Annigoni.
On 15.11.1984, the first
issues of the Eastern
Caribbean Central Bank in the denominations of 1, 5, 10, 20 and 100
dollars to commemorate the ECCB’s first
Anniversary were circulated. These Banknotes contained a bar code and country coded letterings
(which formed a part of the serial numbers on the Banknotes), of the country
they were issued for.
In 1989, the last of the 1 dollar Banknotes
were issued.
In October 1993, 50
dollar denomination Banknotes were issued to mark the Bank’s 10th
Anniversary celebrations.
On 01.04.2008, a
new series of Banknotes was issued but
without having separate country code letterings and the bar code.
In 2012, another new Series of Banknotes
was issued which had Braille features, so as to assist the visually challenged
persons/visually impaired persons to easily identify the higher denomination
Banknotes – 10, 20, 50 and 100 dollars. The
raised Braille characters on these Banknotes depicted a Cricket theme in the
form of cricket balls and stumps.
Banknote
Issues Series I (1984):
The
Eastern Caribbean Banknotes depicted the same themes as the ECCA Banknotes.
These were assigned the country codes – U
for Anguilla, A for Antigua and Barbuda, D for Commonwealth of Dominica, G for
Grenada, M for Montserrat, K for St. Kitts and Nevis, L for Saint Lucia and V
for St. Vincent and the Grenadines.
The Chief Security Features of this Series were the embedded thread on the right
side of the Banknote and the profile
watermark of the Queen along with the lithographic and intaglio print.
Banknote
Issues Series II (1993):
Notable
Features of the Banknotes of Series II:
- The
$ 50 Banknote was issued in October
1993 to mark the Bank’s 10th Anniversary celebrations.
- The
Front of the Banknote was
redesigned to feature the new ECCB
Headquarters along with the Queen’s
effigy. On the Back were
depicted wildlife and cultural icons
or National landmarks of each Island.
- Interestingly,
the see-through element of the larger
fish at the bottom left hand corner of the Front of the Banknotes was realigned so that the fish on the
Back fitted exactly within
the outline of the fish on the Front.
- Also,
a compass rose in silver metallic ink
was embedded on the Back and
second and third intaglio colours were incorporated into the main colour
scheme.
- In
addition, a barcode unique to each
ECCB member country was added at the bottom left hand side of the Front
of the Banknotes. This machine readable element facilitated easy identification
of the original country to which the Banknotes were issued.
Individual
Banknote Descriptions:
The Front of a Five Dollar
Banknote, showing an effigy of Queen Elizabeth II, a turtle, a bird and the
see-through fish element. This Series exhibits the Bar Code of the country for
which it was issued and the Serial number ends in “A” indicating that this
Banknote was issued on behalf of Antigua and Barbuda.
The Back of the above
Banknote showing the Admiral’s house in Antigua & Barbuda and the Trafalgar
falls in Dominica. In the centre is a map of the participating countries –
Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat, St.
Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB issues
common Banknotes.
On the Back of the 5 Dollar Banknote are two
themes, one is the Admiral’s
House in Antigua and Barbuda and the other is, Trafalgar Falls in Dominica.
Trafalgar
Falls: Located about 1.5 miles North-East of the village of
Trafalgar, Trafalgar Falls are two tropical twin waterfalls which empty out
into a large fresh-water lake below. The Falls are located on the West side of
the Island about three and a half miles from Roseau. The scenery is still lush
green and tourists are treated to a Freshwater Hiking trail which is quite long
and adventurous, Waitukubuli Trail, Middleham Falls Hiking trail, Rainforest
Aerial Tram, Papillote Tropical Gardens, Valley of Desolation etc. as the other
attractions.
The Back of a 10 Dollar Banknote. In the centre is a map of the participating countries – Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat, St. Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB issues common Banknotes.
The Back of a 10 Dollar Banknote. In the centre is a map of the participating countries – Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat, St. Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB issues common Banknotes.
On the Back
of the 10 Dollar Banknote are
two themes, one is the Warspite in Anguilla and the
other is the Admiralty Bay in St.
Vincent and the Grenadines.
The
Warspite: Boat races, the Rules of boat racing and
the boats themselves are unique to the Island of Anguilla. Traditional
schooners participate in these races, having “oversized” sails like giant
wings. The Boat races have been a part of Anguilla’s tradition ever since the
early 1900s. The Races are a hangover from a tradition which began a couple of
centuries ago, when Anguilla’s Plantations suffered a failure, leading to the
people taking to the Seas for employment on neighbouring Islands, particularly
in the cane plantations of the Dominican Republic. The return trips to Anguilla
became fiercely competed “unofficial” races in speed.
Several schooners would
vie with one another, even across rough Seas for the “glory” of who got home
first to Road Bay.
In 1918, the first
organised Boat race was held as part of the celebrations to mark the end of
World War I. This race consisting of fishing boats was held in Crocus Bay and
was won by “Repel”. Boat Races are a kind of festival in Anguilla and are held
throughout the spring and summer accompanied by barbecues, music and dancing
with spectators and participants coming out in traditional Island attire.
In 1930, a race of
historic proportions was held, in which two of Anguilla’s most famous schooners
the “Warspite” and the “Ismay” were on return from the
Dominican Republic, along with several other boats coming back home.
On Sunday morning, after
five days of hard sailing, the schooners were sighted west of Dog Island, full
sail ahead towards Road Bay. All the while, the church was in session at Bethel
Methodist on top of the hill surrounding Road Bay. The excitement of the
parishioners on sighting the racing boats was so unbearable, that the church
emptied out within minutes, with everyone, including the Minister who was giving
the sermon, running out to cheer their favourite boat to “win”.
A $10 Anguilla Post stamp
showing the schooner “Warspite” at full sail in their Stamp Series titled “Past
Sailing Vessels of Anguilla”.
“Spite”
is a common name for the green woodpecker, thereby the name suggests that the
ship named Warspite would “poke holes” in the enemy’s “wooden” ship’s hulls.
Also, for several years a woodpecker was used as the ship’s crest.
Interestingly, eight
Warships of the Royal Navy of the UK have been named Warspite – the 29-gun
“English galleon Warspite” (1596), the 70 Gun “HMS Warspite”, (1666), the 74
Gun “HMS Warspite” (1758), the 76 Gun “HMS Warspite” (1807), the 120 Gun “HMS
Warspite” (1833), the Astraea-class Cruiser “HMS Warspite” (1893), the
battleship “HMS Warspite” (1913) and a nuclear powered submarine “HMS Warspite
(1965) .
The Back of a 20 dollar Banknote.In the centre is a map of the participating countries – Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat, St. Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB issues common Banknotes.
The Back of a 20 dollar Banknote.In the centre is a map of the participating countries – Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat, St. Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB issues common Banknotes.
On the Back of the 20 Dollar Banknote are two
themes, one is the Government
House in Montserrat and the other is the Nutmeg in Grenada.
The
Back of a 50 dollar Banknote issued in 2012, which has remained the same
since the 1993 issues, placed here for illustration purposes. In the centre is a map of the participating
countries – Anguilla, Antigua & Barbuda, St. Christopher & Nevis, Montserrat,
St. Lucia, St. Vincent & the Grenadines and Grenada – for which the ECCB
issues common Banknotes.
On the Back of the 50 Dollar Banknote are two
themes, one is Les Pitons in
St. Lucia and the other is the Brimstone
Hill in St. Kitts and Nevis.
Les
Pitons: The Pitons (meaning “Peaks” in French) are two
mountainous volcanic spires, located near the towns of Soufriere and Choiseul
on the South-western coast, in St. Lucia. The “Gros Piton”
(meaning “Large Piton”) is about 771 metres (or 2530 feet) high and the “Petit
Piton” (meaning “Small Piton”) is about 743 metres (or 2438 feet) high.
They are linked by the “Piton Mitan” ridge.
The Pitons are part of a
volcanic complex, known to geologists as the Soufriere Volcanic Centre, which
is the remnant of one or more huge collapsed stratovolcanos. The Marine
Management Area is a coastal strip 11 km long and about 1 km wide.
The coral reefs, which
cover almost 60% of the marine Area, are healthy and diverse.
The area is a multiple-use
management system where Agriculture, Artisan fishing, human settlement of about
1500 residents and tourism all flourish together. At least 148 plant species have been recorded
on Gros Piton and 97 on Petit Piton. Among these are several endemic or rare
plants, including 8 rare species of trees. Some bird species, including five
endemics, are known from Gros Pitons, along with indigenous rodents, opossum,
bats, reptiles and amphibians.
St Lucia’s local beer
brand is named after the Pitons.
In 2004, the Pitons Management
Area was declared a World Heritage Site and span a total area of 2909 ha (or
7190 acres) in size
Brimstone
Hill in Saint Kitts: The word Brimstone means “Sulphur”.
It is a well preserved
fortress on a hill on the Island of St. Kitts and is a well-preserved example
of 17th and 18th century military architecture in
the Caribbean and the Americas. Designed by the British and built intermittently
by African slave labour over about 100 years, the fortress is a testimony to
the European expansion, the African slave trade and the emergence of new
societies in the Caribbean. The main area of the Park contains Fort George, a
massive masonry structure on one of the twin peaks that dominate the complex
and is in excellent condition. It is the earliest surviving example of the type
of fortification termed as the “polygonal system”.
In 1690, cannon
were first mounted on Brimstone hill when the British used them to recapture
Fort Charles from the French.
In 1782, the French
Admiral Comte Francois Joseph Paul de Grasse laid siege to the Fort and guns
were brought from Fort Charles and several other fortifications around St.
Kitts. The adjacent Island of Nevis surrendered to the French easily, while the
British garrison surrendered after a month-long siege.
In 1783, the treaty
of Paris saw St. Kitts and Brimstone hill being returned to the British, who
held it continuously thereafter.
In 1853, the fortress was abandoned as
a result of British Defence cuts. The wooden buildings were auctioned and
dismantled and masonry buildings were plundered for their cut stone.
Since 1999, Brimstone
Hill Fortress National Park is a UNESCO World Heritage Site.
On the Back of the 100 Dollar Banknote are two
themes, one is the ECCB
Headquarters and the other is Sir
William Arthur Lewis.
Sir
William Arthur Lewis (23.01.1915 – 15.06.1991):
He was a St. Lucian economist widely acclaimed for his contributions in the
field of Economics.
His Article titled
“Economic Development with unlimited Supplies of Labour” which was published in
1954 was his most influential development economics article in which he
introduced the “Dual Sector Model” or the “Lewis Model”. His theories have been
credited with the economic development in China over the past few decades.
In 1955, he
published “The Theory of Economic Growth” in which he put forth a concept of
providing an appropriate framework for studying economic development driven by
a combination of “curiosity and practical need”.
In 1979, he was awarded
the Nobel Prize in Economics.
In 1985, Sir Arthur
Lewis Community College named in his honour, was set up and is the only
Community College in Saint Lucia.
Banknote
Issues Series III (1995):
In
this Series, the wordings and numerals of the various denominations were made
clearer against the background and further enhanced with minor colour changes.
The
colour of the $50 Banknote was changed to Brown Orange to differentiate it from
the $10 Banknote.
Banknote
Issues Series IV (2000):
This
Series introduced a full-faced
image watermark of Queen Elizabeth II. This series also displayed a new Electrotype feature which
read “ECCB” to the left hand
side of the watermark.
In addition, a golden iridescent image of fishes
was embedded on the Back of the Banknotes.
A gold foil intaglio overprint and a 1.20 mm Windowed Security Thread which
were earlier added to the 100 Dollar denomination in 1998 were
incorporated into the other Banknotes of this Series.
Banknote
Issues Series V (2004):
In
this Series, the Security
thread was increased to a 2 mm Windowed Facet. When the Banknotes are
viewed from the Front under reflected ultraviolet light, the letters “ECCB” and
the denomination are clearly visible.
A reflective silver foil with intanglio overprint framed with the
letters “ECCB” and the denomination replaced the plain gold
filigree.
Banknote
Issues Series VI (2008):
In
this Series, the Country
Codes were removed from the Serial
number which was modified to include a double alpha character prefix.
The Barcodes were also
removed and the Fish on the Front bottom left hand side made more prominent.
All the other existing Security Features remained unchanged.
Banknote
Issues Series VII (2012):
In 2012, another new Series of Banknotes
was issued which had Braille features,
so as to assist the visually challenged persons/visually impaired persons to
easily identify the higher denomination Banknotes – 10, 20, 50 and 100 dollars.
The raised Braille characters on these
Banknotes depicted a Cricket theme in the form of cricket balls and stumps.
The Front of a 10 Dollar banknote.
- On the 10 Dollar Banknote, there is a single upright stump and a single dislodged bail by a bowled ball.
The Front of a 20 dollar Banknote
The Front of a 10 Dollar banknote.
- On the 10 Dollar Banknote, there is a single upright stump and a single dislodged bail by a bowled ball.
The Front of a 20 dollar Banknote
- On
the 20 Dollar Banknote, there
are two upright stumps with one bail and a bowled ball outside the leg-stump to
a right-handed batsman.
The Front of a 50 dollar Banknote
On the 50 Dollar Banknote, there are two visible upright stumps, with the two bails having been dislodged by a bowled cricket ball.
On the 50 Dollar Banknote, there are two visible upright stumps, with the two bails having been dislodged by a bowled cricket ball.
- On
the 100 Dollar Banknote,
there are three upright stumps on which are placed two bails in the normal
manner in which they are placed on a cricket field during play.
In addition, this Series reintroduced a one dollar
Banknote for St. Vincent and the Grenadines in which the Serial number
ends with the country code “V”.
All
the other features of the Banknotes, including the profile watermark of Queen
Elizabeth II, Security features and images have remained the same as in the
earlier Series.
Security
Features incorporated on ECCB Banknote issues:
- See Through Feature:
There is a fish at the bottom left hand corner on the front of the banknotes.
When the banknotes are help up to the light, parts of the fish fill in, as
areas on the back of the banknote line up perfectly with the Front.
- Watermark:
There is a watermark depicting Queen Elizabeth II on each of the Banknotes. The
watermark appears three-dimensional, when the Banknote is held up to light.
Full faced image Watermark of Queen Elizabeth II introduced in the 2000 Banknote series.
Full faced image Watermark of Queen Elizabeth II introduced in the 2000 Banknote series.
- Security thread:
The Security thread has been upgraded. When the Banknote is viewed from the
front under reflected UV light, the letters ECCB and the denominational value
of the Banknote are clearly visible in yellow, against a blue background. A
second Security thread has also been added. This is a narrow, continuous black
line, to the left of the Queen’s portrait.
- Electrotype:
The Electrotype reads “ECCB” and enhances the visibility and security of the
traditional Watermark.
- Intaglio over Foil:
The Banknotes bear a highly reflective Foil which shows the denomination. The
letters ECCB and the denomination can be seen in small print around the Foil.
The presence of Intaglio enhances the Security of the Banknotes.
A reflective silver foil with "ECCB" and the denomination replaced the plain gold filigree - introduced in the 2004 Series of Banknotes.
A reflective silver foil with "ECCB" and the denomination replaced the plain gold filigree - introduced in the 2004 Series of Banknotes.
- Silver Metallic Ink:
A compass rose is printed in silver coloured ink on the Back of the banknotes.
The ink gives a metallic lustre to the image and enhances its appearance.
- Iridescent print:
On the Back of the banknotes, there is an area printed with a special
iridescent ink, which has a golden sheen. If one moves the Banknote around in
the light, one can see the image of several fishes which appear and disappear
as the Banknote is moved.
Golden iridescent images of fishes, introduced in the 2000 Banknote Series.
Golden iridescent images of fishes, introduced in the 2000 Banknote Series.
- Novel Numbering:
Each Banknote bears a unique serial number, which is printed vertically on the
left hand side of the Banknote and horizontally in a “novel” numbering style on
the right hand side.
All
Series of Banknotes issued by the ECCB are legal tender:
All
Series of Banknotes issued from 1984 onwards are legal tender and still in
circulation and are replaced in the normal course through wear and tear over
time, with use.
Coins
issued by the East Caribbean Central Bank:
Until 1981,
the Coins of the British West Indies dollar (BWI$) were circulating.
In 1981, a new
Series of coins was circulated in the denominations of 1, 2, 5, 10 and 25 Cents
and one Dollar (Aluminium Bronze).
In 1989, the one
dollar Aluminium Bronze coin which was round in shape was replaced by a
decagonal (ten-sided) cupro-nickel coin.
The Reverses of the
various denominations of coins issued from 1981 to 1989.
In 2002, a new
Series of Coins having the same denominations as before was introduced referred
to as the 2002 Series:
Similarities
and distinctive features on the coins of various denominations of the 2002
Series:
- The
Obverses of all these coins
depicts a recent portrait of Queen
Elizabeth II designed by Ian-Rank Broadley.
- The
one cent and ten cent coins are
similar in size, but can be
easily distinguished since the weight of the ten cent coin is about two
and a half times the weight of the one cent coin.
Also,
the one cent coin has a smooth edge while the ten cent coin has a ribbed edge.
The numeral “1” on the one cent coin is raised and can be easily felt in the
centre between the crossed palm design while the ten cent coin has the numeral
“10” on either side of the ship.
- Similarly,
the five cent and twenty-five cent
coins are about the same size, but the twenty-five cent coin is almost
four times heavier than the five cent coin.
The
five-cent coin has a smooth edge and the numeral “5” is raised between the
crossed palms, while the twenty-five cent coin has a ribbed edge and the
numeral “25” on either side of the ship.
- Also,
the features on the one, two and five cent coins are similar, but have
different weights and sizes.
- The
one dollar coin is the largest and heaviest of all the rest, and has a
distinctive edge which has alternate smooth and ribbed sections.
- The
Reverses of all these coins
depicted the denomination/value
of the coin together with the inscription “East
Caribbean States” and the year
of minting.
Other
features of individual coin denominations:
In addition, on the Reverse, the one cent coin is depicted two crossed Palm Branches on either side of the numeral “1”.
The specifications of this coin are as under:
Diameter/Size:
18.42 mm; Shape: Round; Metal Composition: Aluminium; Weight:
1.03 gms; Edge: Plain.
In addition, on the Reverse, of the two cent coin is depicted a two crossed Palm Branches on either side of the numeral “2”.
The specifications of this coin are as under:
Diameter/Size:
21.46 mm; Shape: Round; Metal Composition: Aluminium; Weight:
1.42 gms; Edge: Plain.
In addition, on the Reverse, of the five cent coin is depicted a two crossed Palm Branches on either side of the numeral “5”.
The specifications of this coin are as under:
Diameter/Size:
23.11 mm; Shape: Round; Metal Composition: Aluminium; Weight:
1.74 gms; Edge: Plain.
In addition, on the Reverse, of the ten cent coin is depicted Francis Drake’s ship, the Golden Hind.
The number “10” is on either
side of the ship.
The specifications of this coin are as under:
Diameter/Size:
18.06 mm; Shape: Round; Metal Composition: Cupro-nickel; Weight:
2.59 gms; Edge: Ribbed.
In addition, on the Reverse, of the twenty-five cent coin is
depicted Francis Drake’s ship, the
Golden Hind.
The specifications of this coin are as under:
Diameter/Size:
23.98 mm; Shape: Round; Metal Composition: Cupro-nickel; Weight:
6.48 gms; Edge: Ribbed.
In addition, on the Reverse, of the one dollar coin is depicted Francis Drake’s ship, the Golden Hind.
The specifications of this coin are as under:
Diameter/Size:
26.50 mm; Shape: Round; Metal Composition: Cupro-nickel; Weight:
7.98 gms; Edge: Alternate Smooth and Ribbed.
(The Banknotes shown here
for illustration purposes are from the collection of Jayant Biswas. Post
researched and written and Banknotes scanned by Rajeev Prasad).
No comments:
Post a Comment