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Bahamas / 4 Products

The Commonwealth of the Bahamas is an island country in the Lucayan Archipelago of the West Indies. The Bahamas became a British crown colony in 1718. American loyalists settled in the Bahamas after the American Revolutionary War. Due to the establishment of plantations, enslaved Africans and their descendants inhabited the islands. Slavery in the Bahamas was abolished in 1834 and the islands became a haven for freed African slaves. The country gained independence in 1973. 

The Bahamas used the pound sterling until 1966. The pound was replaced by the dollar at a rate of 1 dollar to 7 shillings. The Bahamian dollar is pegged to the US dollar on a one-to-one basis. 

Coins were introduced in denominations of 1 cent, 5 cents, 10 cents, 15 cents, 25 cents, 50 cents, 1 dollar, and 2 dollars. The coins featured the coat of arms of the Bahamas in front and different animals and artifacts at the back. The 1 cent was demonetized in 2020. The Bahamas also introduced a legal digital currency, the sand dollar, in the same year as an alternative.

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