Bermuda - 5 Shillings - P-18a - 1952 dated Foreign Paper Money

5 Shillings. P-18a. Available VF-EF for $100, VF+ for $75, and F-VF for $50. Please specify condition. The Bermudian dollar (symbol: $; code: BMD; also abbreviated BD$; informally called the Bermuda dollar) is the official currency of the British Overseas Territory of Bermuda. It is subdivided into 100 cents. The Bermudian dollar is not normally traded outside Bermuda, and is pegged to the United States dollar at a one-to-one ratio. Both currencies circulate in Bermuda on an equal basis.

For nearly four hundred years Spanish dollars, known as "pieces of eight" were in widespread use on the world's trading routes, including the Caribbean region. However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up. The United Kingdom had adopted a very successful gold standard in 1821, and so the year 1825 was an opportune time to introduce the British sterling coinage into all the British colonies. An imperial Order in Council was passed in that year for the purposes of facilitating this aim by making sterling coinage legal tender in the colonies at the specified rate of 1 Spanish dollar to 4 shillings, 4 pence sterling. As the sterling silver coins were attached to a gold standard, this exchange rate did not realistically represent the value of the silver in the Spanish dollars as compared to the value of the gold in the British gold sovereign. Because of this, the order had the effect in many colonies of driving sterling coinage out of circulation, rather than encouraging its use. Read more at https://en.wikipedia.org/wiki/Bermudian_dollar