Our New Money! On the Anniversary of Changeover Day - The National Library of Jamaica

Our New Money! On the Anniversary of Changeover Day

On Monday September 8, 1969 (known as Changeover Day) Jamaica saw the introduction of five (5) coins that truly marked the beginning of Jamaican currency/coinage. After 149 years (1840) of using the currency of the United Kingdom, the island was finally getting ‘its own money’.   This date also marked the beginning of all banking transactions being conducted be in dollars and cents; replacing the use of pounds, shillings and pence.

When the Bank of Jamaica Act came into force in October 1960, it gave to the Bank the sole right to issue notes and coins in the island. The decision to implement decimal currency in Jamaica came on January 30, 1968, when the House of Representatives unanimously approved the report of the Select Committee of the House, which had been appointed to study and make recommendations on the matter.

 

 

Helping Jamaicans understand the new decimal currency structure were none other than Miss Lou (Louise Bennett), Eric Coverley, and Mass Ran (Ranny Williams). Have a look at this charming documentary, produced by the Jamaica Information Service, titled ‘Our New Money’.