Jamaican pound

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The Jamaican pound was Jamaica’s money from 1840 to 1969 and was always equal in value to the British pound. It circulated with a mix of sterling coins and Jamaica’s own coins and notes, and it was also used in the Cayman Islands and Turks and Caicos.

Before the pound, Jamaica used Spanish coins. In 1840 sterling coinage became legal tender in Jamaica, though local practices kept some different values. Jamaica later issued its own pennies and copper coins, and cupronickel was used for small coins from 1869.

Banknotes began in 1920, issued under the Commissioners of Currency in small denominations (like 2/6, 5/-, and 10/-). Larger notes (£1 and £5) were issued by banks. In 1960 the Bank of Jamaica gained the right to issue coins and notes, and in 1961 it produced notes of 5/-, 10/-, £1 and £5.

In 1968 Jamaica decided to decimalize. On September 8, 1969, the country switched to the Jamaican dollar, worth 10 shillings, with 100 cents making up each dollar. New coins (1c, 5c, 10c, 20c, 25c and 50c) and banknotes (50c, $1, $2 and $10) entered circulation. The old Jamaican pound was withdrawn on that date, and Jamaica began using the Jamaican dollar.