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Obverse of 1974 Cayman Islands Silver Proof 2 Dollars
Obverse of 1974 Cayman Islands Silver Proof 2 Dollars

Reverse of 1974 Cayman Islands Silver Proof 2 Dollars
Reverse of 1974 Cayman Islands Silver Proof 2 Dollars

A Brief History of The Cayman Islands
Colonisation
Unlike many islands in the Caribbean, the Cayman Islands were uninhabited when they were first discovered by Christopher Columbus in the 1490s. He nicknamed them Las Tortugas after the abundance of sea turtles to be found on and around the islands.
The islands were frequently visited by passing ships in order to resupply their larders with fresh turtle meat, but the islands were not settled permanently until late in the 17th Century.
Originally claimed by the Spanish, Spain ceded the Cayman Islands, along with Jamaica to England in 1670 under the Treaty of Madrid. The Cayman Islands remained attached to the colony Jamaica for administrative purposes until the latter became independent in 1962.

Tax Haven
An old Cayman legend suggests that George III promised never to tax the Islands' as the result of the inhabitants heroic efforts to rescue as many sailors as possible when a convoy was wrecked off the coast in 1794, one of the rescued sailors was rumoured to be Prince William (later William IV) one of George III's sons. However, this story is merely legend and there is no hard evidence to back this up.
Today, Cayman's status as a tax haven has encouraged the development of a massive financial services industry. The administration of the Cayman Islands is funded largely by indirect taxation, such as import duties, flat service fees and a tourist tax.

Caymanian Coins
The Cayman Islands shared its currency with Jamaica until 1972, when it replaced the Jamaican Dollar with the Cayman Islands Dollar at par. Since 1974 it has been pegged with the US Dollar at the rate of one Cayman Islands Dollar to US$1.20.
Coins of 1c, 5c, 10c and 25c are struck for circulation. Queen Elizabeth II is featured of the obverse of all Cayman Islands coins.

For Sale and Wanted
If you are interested in coins from The Cayman Islands please see our product index:-
Caymanian Coins

Gold Coins
We also have gold coins from The Cayman Islands on our taxfreegold website:-
Caymanian Gold Coins



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