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[1] [2] When Jamaica went decimal in 1969, the new Jamaican dollar was in effect a half-pound. Jamaica and the Cayman Islands were therefore the only territories in the British West Indies to continue with a descendent unit of the pound sterling. (See the main article at Jamaican pound.)
Coins were introduced in 1955 in denominations of 1 ⁄ 2, 1, 2, 5, 10, 25 and 50 cents, minted under the name of "British Caribbean Territories, Eastern Group". The 1 ⁄ 2, 1, and 2 cent coins were bronze and of the same weight and diameter as British farthing, halfpenny, and one penny coins. The 5 cents coin was brass while the 10, 25, and ...
The history of currency in Jamaica should be considered in the wider picture of the currencies of the British West Indies. Jamaica was the only British West Indies territory to use special regional issues of the sterling coinage. [a] The earliest money used in Jamaica was the Spanish copper maravedí.
On 8 September 1969, banknotes of 50 cents (5 shillings), $1 (10 shillings), $2 (£1), and $10 (£5) were introduced. The $5 note was introduced on 20 October 1970, followed by the $20 in June 1976, when the 50 cent note was replaced by a coin. $100 notes were added on 2 December 1986, followed by $50 notes on 27 July 1988.
Prior to decimalisation in 1971, there were 12 pence (written as 12d) in a shilling (written as 1s or 1/-) and 20 shillings in a pound, written as £1 (occasionally "L" was used instead of the pound sign, £). There were therefore 240 pence in a pound. For example, 2 pounds 14 shillings and 5 pence could have been written as £2 14s 5d or £2/14/5
The Crown Colony of Jamaica and Dependencies was a British colony from 1655, when it was captured by the English Protectorate from the Spanish Empire. Jamaica became a British colony from 1707 and a Crown colony in 1866. The Colony was primarily used for sugarcane production, and experienced many slave rebellions over the course of British rule ...
The British three halfpence coin was a denomination of sterling coinage worth 1 / 160 of one pound or 1 / 8 of one shilling. It was produced for circulation in the British colonies, mainly in Ceylon and the West Indies in each year between 1834 and 1843, and also in 1860 and 1862. Proof coins were also produced in 1870.
The British halfpenny coin was worth 1/480th of a pound sterling. At first in its 700-year history it was made from silver, but as the value of silver increased the coin was made from base metals . It was finally abandoned in 1969 as part of the process of decimalising the British currency.