Colored $1 coin coming

The $1 coin as it looks at present
What the $1 coin presently looks like

The Eastern Caribbean Central Bank (ECCB) has announced that within four months there will be a colored $1 coin.

While remaining tight-lipped on the exact color the new coin will be or the reason (s) for the change, Deputy Governor of the bank, Trevor Brathwaite said it will be the first in the region.

“Coming in October there will be a colored EC$ 1 coin,” he said. “It’s a surprise.”

The introduction of the colored $1 coin is one of two major changes in coins being introduced by the ECCB.

The bank has announced that come July 1, 2015, it will begin phasing out the one-cent and two-cent coins out of circulation.

The phasing out process will take place over a five-year period.

The East Caribbean dollar is the currency used in eight of the nine nations in the Organization of Eastern Caribbean States: Antigua and Barbuda, Dominica, Grenada, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Anguilla (UK Territory), and Montserrat (UK Territory).

The British Virgin Islands is the only member of the OECS that uses its own currency.

Copyright 2012 Dominica News Online, DURAVISION INC. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

Disclaimer: The comments posted do not necessarily reflect the views of DominicaNewsOnline.com and its parent company or any individual staff member. All comments are posted subject to approval by DominicaNewsOnline.com. We never censor based on political or ideological points of view, but we do try to maintain a sensible balance between free speech and responsible moderating.

We will delete comments that:

  • contain any material which violates or infringes the rights of any person, are defamatory or harassing or are purely ad hominem attacks
  • a reasonable person would consider abusive or profane
  • contain material which violates or encourages others to violate any applicable law
  • promote prejudice or prejudicial hatred of any kind
  • refer to people arrested or charged with a crime as though they had been found guilty
  • contain links to "chain letters", pornographic or obscene movies or graphic images
  • are off-topic and/or excessively long

See our full comment/user policy/agreement.

19 Comments

  1. April 29, 2015

    Pretty soon they’ll play with the money until it has NO VALUE. $1 US will no longer be $2.66/$2.67 it might be $100 to $1 US just like Jamaica. NO VALUE.

  2. Thorbjørn Jagland
    April 27, 2015

    Funny money is not sound money :lol: :lol: :lol:

  3. April 26, 2015

    It shouldn’t be “a surprise”, and they should share their reasons for what they do. They work for the people, not the other way around.

  4. The Facts
    April 25, 2015

    Some of you dwell on color, etc. A colored coin for colored people. I wonder what color will it be? :lol:

  5. The Facts
    April 24, 2015

    This new colored coin would be interesting. Rest assured that the material used to produce it will not be expensive.
    Every country should have either a paper or coin $1.00. The only thing is that one cent headache. :lol: Nothing will cost 0.99 cents anymore. It will be a $1 or more.

  6. Preserved
    April 24, 2015

    The ECCB needs to stop these regular changes to the identity of the various denominations. They have created a problem for the banks since the new silver $1 and $0.25 coins went into circulation. You see, the banks weigh the coins to count the value. The new coins have a low metallic content and are lighter than their predecessors. The banks now can’t tell the value of a bag of mixed $1 or $0.25 coins (old and new) by weighing. They now have to manually count or acquire new counters.

    It will be interesting to see if this new coloured coin has yet a different weight, and shape and size!!!. Funny this new coloured coin is coming in shortly after removing the brass coloured ones from circulations.

    And yes,, those changes are messing up businesses with machinery that use those denominations.

    Come on guys lets get our act together. The US denominations have not changed in recent history.

    Too many changes in a relatively short period!!!

  7. BEB
    April 24, 2015

    The British Virgin Island is not using the own currency, they are using American currencies. I might stand to be corrected

    • April 29, 2015

      Guess they don’t know the difference. Tortola do use US currency. Tortola DO NOT have its own money. Educate yourselves.

  8. Dora
    April 24, 2015

    To the individual who wrote this article, the British Virgin Island does not have or use it’s own currency it uses US Dollars

  9. eheh
    April 24, 2015

    They phsaing out the one cent and two cents becuase it is too costly but right away I bet it will be more costly to make the coloured coins. Smh

    • Thorbjørn Jagland
      April 27, 2015

      U are correct it is called seigniorage a sure sign of the economic decline of the OECS

      • April 28, 2015

        You realise the E.C. dollar has been pegged to the U.S. dollar for decades, right? Therefore it’s U.S. monetary policy that’s led to the uselessness of the one and two cent pieces, it’s not a local policy. Anyway, thank God we don’t actually use the Sucre!

  10. derp
    April 24, 2015

    thats the old 1 dollar coin just saying…

    ADMIN: Caption for photo reads “What the $1 coin presently looks like”

    • derp
      April 24, 2015

      exactly ,which it isn’t, the current dollar ,which is the present dollar that is currently being minted is the shinny more rounded dollar with an older image of the Queen

  11. Correction
    April 24, 2015

    Martinique is part of the OECS. It’s now 10 nations.

    • Titiwi
      April 24, 2015

      Carcon, sorry but you are wrong. Martinique is only an associate member of the OECS.

    • The Facts
      April 24, 2015

      Martinique falls under France. Does Martinique not have its own money? Being French, I doubt it will make changes to its coins.

  12. Titiwi
    April 24, 2015

    The alloy of our dollar today , cupro-nickel, is too expensive. The bank wants to have a cheaper coin. Bet the new colour will be brown so we wont notice when it starts rusting! Everything downgraded these days, except politicians perks and their egos.

    • fantastic4
      April 24, 2015

      if it is going to be brown to hide the rust then I WANT TO BET A DOLLAR IS THE CHINESE THAT MAKING IT FOR THEM hahaha – just check the stadium ooops!!

Post a Comment

Your email address will not be published. Required fields are marked *

:) :-D :wink: :( 8-O :lol: :-| :cry: 8) :-? :-P :-x :?: :oops: :twisted: :mrgreen: more »

 characters available