The Republic of Liberia is a West African country that is bordered by Sierra Leone to the northwest, Guinea to the north, the Ivory Coast to the east, and the Atlantic Ocean to the south and southwest. Liberia started as a project of the American Colonization Society in the early 19th century. Many freed and free-born African Americans and Afro-Caribbeans relocated to Liberia between 1822 and 1861, developing an Americo-Liberian identity. Liberia declared independence in 1847. However, the US did not recognize this independence until 1862.
Liberia was the first African republic to proclaim its independence. It is also the first and oldest modern republic in Africa. Liberia is one of the two African countries that maintained its sovereignty and independence during the “Scramble for Africa”.
The Liberian dollar is the official currency of Liberia since 1943. It was also the currency between 1847 and 1907. It is divided into 100 cents.
The first Liberian dollar was issued in 1847. It was pegged to the US dollar at par and circulated with the US dollar until 1907, when Liberia replaced the dollar with the British West African pound. Copper 1- and 2-cent coins were the only coins that circulated in Liberia until 1896. A new set of coins were introduced in 1896. The denominations that circulated were 1 cent, 2 cents, 10 cents, 25 cents, and 50 cents.
After Liberia readopted the dollar, it issued its own coins that circulated alongside US currency. In 1937, coins were issued in denominations of ½ cent, 1 cent, and 2 cents. In 1960, more denominations were introduced. These denominations were 5 cents, 10 cents, 25 cents, and 50 cents. The 1-dollar coin was introduced a year after.
Following a currency shortage in 1980, Liberia minted 5-dollar coins that had seven sides and weighed the same as the one-dollar coin. The 5-dollar coin was replaced by a banknote in the late 1980s.
Liberia started issuing commemorative coins in 1970s. These coins came in denominations ranging from 1 to 2,500 dollars.
