Grenadan dollar
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The dollar was the currency of Grenada until 1840 and again from 1909. The East Caribbean dollar currently circulates.
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[edit] First dollar
The currency comprised various cut Spanish dollars and other Spanish colonial coins. The dollar was subdivided into bits (worth 9 pence). Before 1814, there were 11 bits to the dollar, with the issue of 1787 consisting of Spanish dollars cut into 11 segments and stamped with a "G". After 1814, there were 12 bits to the dollar. 1 bit pieces were made from 2 reales coins cut into thirds, whilst 2 and 4 bit pieces were made from 4 reales coins cut into sixths and third, respectively, and 6 bit pieces were produced from 8 reales coins cut in half. All were stamped with a "G", their value in bits and either "TR" or "GS". In 1840, sterling was established as the official currency of the island.
[edit] Second dollar
In 1909, the first private banknotes were issued, denominated in dollars. These circulated alongside sterling and government paper money (denominated in sterling) issued in 1920. From 1920, some of the private banknotes 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 Grenadan 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 1909, 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 (1978). Standard Catalog of World Coins: 1979 Edition, Colin R. Bruce II (senior editor), 5th ed., Krause Publications. ISBN 0-87341-020-3.
- 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 - Grenada
- Global Financial Data currency histories table (
Microsoft Excel format)
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