Saint Vincent Dollar - Early History

Early History

In 1797, coins were produced for 1 black dog, 1 stampee and ¼ and ½ dollar. The black dog and stampee were made by counterstamping an "SV" monogram on French colonial coins, whilst the ¼ and ½ dollar were made by cutting 8 reales coins (Spanish dollars) into four or two and stamping them with the "SV" monogram.

Between 1811 and 1814 currency consisted of various counterstamped Spanish and Spanish colonial coins, some of which were cut or holed. The Spanish dollar was subdivided into bits, each worth 9 pence, 6 black dogs or 4 stampees. Before 1811, 1 dollar = 11 bits and the dollar equalled 8 Spanish reales. After 1811, 1 dollar = 12 bits and 1½ dollars equalled 8 reales. 4½, 6, 9 and 12 bits coins were produced. The 4½ and 9 bits were made from 2 and 4 reales coins. The 4½ bits was counterstamped with "S", "IV½" and "B", whilst the 9 bits was counterstamped with "S" and "IX". To produce the 6 and 12 bits, 8 reales coins were holed. The central plug was stamped with "S" and "VI" to produce the 6 bits, whilst the ring (or holey dollar) was stamped with "S" and "XII" to make the 12 bits.

The revolutions in Spanish America cut off the supply of the Spanish Dollars at a time when Britain had recently introduced a successful gold standard. As such, it became expedient to introduce British sterling coinage to all the colonies. Sterling coinage was introduced following an imperial order-in-council of 1825 which set ratings for sterling in relation to the Spanish dollar and some other major coinages which were in circulation at the time.