Bermuda coin

Bermuda is a British island territory in the North Atlantic Ocean known for its pink-sand beaches such as Elbow Beach and Horseshoe Bay. Its massive Royal Naval Dockyard complex combines modern attractions like the interactive Dolphin Quest with maritime history at the National Museum of Bermuda. The island has a distinctive blend of British and American culture, which can be found in the capital, Hamilton. The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$) is the official currency of the British Overseas Territory ofBermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside of Bermuda, and is pegged to theUnited States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis. In 1970, the Bermuda Monetary Authority introduced coinage with denominations of 1, 5, 10, 25, and 50 cents. From its inception, the 1-cent coin was struck out of bronze until 1988, when it was replaced with copper-plated steel. The composition of the 1-cent coin was changed to copper-plated zinc in 1991.[9] All other denominations, at the time, were minted from cupronickel. Nickel-brass 1-dollar and 5-dollar coins were issued in 1983; neither were very popular, with the 5-dollar coin eventually being withdrawn from circulation on 1 January 1990.[11] New 1-dollar coins that were thinner and one-third lighter than the 1983 issue were produced in 1988.[12] The 50-cent denomination was also phased out, with the coins being called in on 1 May 1990.[13] All denominations of Bermuda coinage depict the monarch of the United Kingdom on the obverse, currently Queen Elizabeth II. From 1970 through 1985, the royal effigy by Arnold Machin was used, followed by an effigy by Raphael Maklouf from 1986 through 1998.[9] The current obverse, introduced in 1999, is the royal effigy sculpted by Ian Rank-Broadley. Track Page Views With Auctiva's FREE Counter