St Helena-Ascension issued its first modern coinage in 1984. The coinage and banknotes of the UK remain legal tender on the islands.
The territory's coins were minted to the same specifications of size, shape, colour and weight as their UK counterparts. They were produced by the Royal Mint (UK). The UK removed any reference to "NEW" pence from its coinage in 1982, and because St Helena-Ascension's coins were not minted until 1984, they also omit that reference.
The UK itself introduced a circulation 20 pence coin in 1982 and a circulation pound coin in 1983. Surprisingly, the 1984 coinage of St Helena-Ascension did not include a 20 pence coin. The obverse of St Helena-Ascension's coins carried
Arnold Machin's effigy of Elizabeth II, and 1984 was also the last year that the UK's coinage used that effigy. The Saint Helena 50 pence and 1 pound notes were withdrawn after the issue of the corresponding coins.
The reverses of the coins of St Helena-Ascension carried some superb wildlife designs by Englishman
Michael Hibbit, who has produced various designs for the Royal Mint, UK:
NOTE: Tristan da Cunha has never used the coinage of St Helena-Ascension. Only UK currency is legal tender on TDC. However, currencies such as the Rand, the US dollar and the euro are accepted from tourists. TDC produces its own collector coin sets, but these are not intended for circulation. However, the TDC Post Office notes that there are a few TDC 5 pound coins in circulation. Given that the population of TDC is only 267, this is presumably known about by all and tolerated as a novelty for tourists.