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Royal Yacht Britannia on Reverse of 1994 Bahamas Silver Proof 2 Dollars
Reverse of 1994 Bahamas Silver Proof 2 Dollars

Obverse of 1994 Bahamas Silver Proof 2 Dollars
Obverse of 1994 Bahamas Silver Proof 2 Dollars

A Brief History of Bahamas

Pre-Colonial History
The Bahamas were originally inhabited by Lucayan Indians (an Arawak speaking people), who managed to avoid conquest by the Caribs, unlike most of the Arawak natives of other Caribbean Islands. The arrival of the Spanish in the late 15th Century heralded the doom of the native population. Over the next couple of decades, a combination of smallpox and enslavement saw the native population crash from 40,000 to 0 by 1526. The depopulated islands attracted little interest until English colonists from Bermuda arrived in 1648 to colonise and settle the area.

A Notorious Den of Pirates
For much of the 17th Century, the colonists made their living in agriculture and fishing, although salvaging wrecks (particularly Spanish wrecks), also became an important ‘industry’, much to the ire of the Spanish, who often found themselves attacked by the colonists when trying to salvage their own wrecked ships. The colonists for their part, found themselves subject to punitive raids by the Spanish and many of their settlements were burned to the ground.
The War of Spanish Succession from 1701 – 1714 proved a boom time for the English Colonists, and Nassau, the capital of the Bahamas, became a base for Privateers raiding French and Spanish vessels. This was a very lucrative enterprise, and many privateers carried on with their trade despite the end of the war in 1714. Such were the numbers of Privateers based in Nassau, that they effectively controlled the Bahamas, and British governance of the ‘Pirates Republic’ was practically non-existent.
British governance was not effectively restored until 1718 with the arrival at Nassau of a fleet of ships commanded by Woodes Rogers, who arrived with the authority to pardon any pirates who submitted to him. Most pirates did submit, but a few, including Charles Vane and ‘Calico Jack’ Rackham continued with their trade. However, large-scale piracy was effectively crushed by 1726.
Apart from a brief period of Spanish occupation during the American War of Independence, Britain remained firmly in control of the Bahamas until the late 20th Century.

Slavery and Emancipation
Following the American War of Independence, many American Loyalists and their slaves were resettled in the Bahamas, where they grew cotton and other plantation crops. Many other slaves where imported, prior to the abolition of the slave trade, in order to provide labour for the plantations. When the slave trade was abolished, many of the liberated slaves were resettled in the Bahamas. All slaves were emancipated in 1834. The descendants of former slaves constitute the majority of the population of the Bahamas today.

Modern History
During the American Civil War, The Bahamas revisited part of its notorious maritime history by being a haven for blockade runners shipping cotton to Europe in return for much-needed supplies and money for the Confederacy.
During the American Prohibition Ear, the Bahamas once again became an outlaw haven when rum smugglers began to use it as a base for shipping their illicit goods into the US. Even today, the Bahamas is a centre for the illegal drug trade, largely due to its close proximity to the US. Its status as an offshore tax-haven is also a source of aggravation for many larger countries, including Britain and the US. Black Markets aside, the Bahaman economy also enjoys a booming tourist sector, which, with the exception of the financial services sector, is probably one of the most important sectors of the Bahamian economy today. The Bahamas became independent of Britain in 1973.

Bahamian Coins
Prior to 1966, the currency of the Bahamas was the Pound, which was equivalent to the Pound Sterling. The Bahaman Dollar was introduced at the rate of 7 Shillings = 1 Dollar, reflecting the exchange rate between the US Dollar and the Pound at the time.
The Bahaman Dollar is pegged to the US Dollar at par.
Bahaman coins in circulation include the 1, 5, 10 and 25 cent coins. Also struck are the 15, 50 cent and 1 dollar coins, although, like the US Half-Dollar and the British £5 coin, they are rarely seen in circulation. Although the Queen is the Head of State in the Bahamas, her portrait does not usually adorn Bahaman coins. Instead, the Bahaman coat of arms graces the obverse of this nation’s coins.

For Sale and Wanted
If you are interested in coins from Bahamas please see our product index:-
Bahamian Coins

Gold Coins
We also have gold coins from Bahamas on our taxfreegold website:-
Bahamian Gold Coins



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