Gambia; a short numismatic history

Started by Figleaf, December 17, 2008, 11:31:13 AM

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Figleaf

Gambia: The Development of Currency in the Gambia
Post Barter to Dalasi
16 December 2008
   
Until the middle of the nineteenth century the recognised method of payment in The Gambia was by Cowrie Shells.

The earliest forms of "coin" were brass or copper rods and sometimes metal tokens. By 1880 silver coins, mainly in the form of French 5 Franc pieces, were in general use. In 1892 the African Banking Corporation was established in Lagos and one of the Bank's function was to supply West African countries with new British coin and repatriate redundant silver coin to London.

Two years later in 1894 these responsibilities passed to the Bank of British West Africa. In 1912 a Committee, a brain child of the then Currency Board was set up to look into means and ways of establishing a more uniform currency and to decide on future policy.

Although a one-penny and one-tenth of a penny coin had been issued from 1907, and a half-penny from 1911, the French 5 Franc silver pieces still dominated in The Gambia. In 1913 a three-penny, six-penny, one shilling and florin coin were issued. By the end of 1915 the Committee that had now become the West African Currency Board (WACB), revised and enlarged its constitution to provide for a note issue.

Why should we be pessimists and doubters and a bunch of doom prayer seekers when we make mention of the WAMI which is presently formulating strategies to get one currency for West Africa. This was possible when the colonial master rule over us and why should it be a problem or impossibility when we are now in charge? We owe it to generations yet born and we owe it to our people as united we are a power house but divided as we are presently will render us too minute to move or shake any substantial economic valve.

Our situation will also be compounded by our exposure to the economic cyclones that comes with currency trading, printing, minting, and regulations. The WAMI is on track and it is a noble mission which should be supported by all and sundry as we owe it to Mama Africa. Then the proposal was put forward that currency notes be issued to each colony but that these should be under the authority of the Currency Board in London.

The notes were to be a uniform design but bearing the distinguishing mark of each issuing office. This constitution was to remain unchanged until 1949. An order was thus placed with the London printers, Waterlow & Sons Ltd., for 2 shilling, 10 shilling and £1 banknotes. These entered circulation in The Gambia towards the end of 1917. With the exception of the 2 shilling note, the reception was generally favourable.

The following year when a 1 shilling note was printed by the Bank of England it was also found to be as unpopular as the 2 shilling.1919 marked the issue of a £5 note that was withdrawn only four years later through lack of popularity. It was not until 1954 that this note was reissued in The Gambia.

Internal self-government came to The Gambia in October 1963 and on the initiative of the West African Currency Board an order for notes was placed with Bradbury Wilkinson & Co. Ltd. For 10 shilling, £1 and £5 notes. These were put into issue only four days after the new currency ordinance, that formed The Gambia Currency Board, came into force 1st. October 1964. Then came 18th. February 1965 when The Gambia attained Independence,

The Gambia Currency Board issued its own coinage, produced by Royal Mint, to replace the West African Currency Board coin, on 21st. November 1966. The values remained the same although the one-tenth and half-penny coins were not issued, whilst a 4 shilling piece went into circulation. An 8 shilling coin was subsequently struck in 1970.

The assets and liabilities of The Gambia Currency Board were vested in 1971, in the Central Bank of The Gambia. That same year the currency was decimalised on the basis of 1 Dalasi, 100 Bututs. The coins were minted by the Royal Mint. The notes of 1, 5, 10 and 25 Dalasi denominated were printed by Bradbury Wilkinson & Co. Ltd. With the royal effigy being replaced by the portrait of H. E.

The President of the Republic of The Gambia Sir Dawda Jawara on both the notes and the coin. To commemorate the tenth anniversary of Independence in The Gambia a new 10 Dalasi coin was produced in 1975.

Source: The Daily Observer (Banjul)
An unidentified coin is a piece of metal. An identified coin is a piece of history.

Harald

An interesting detail of Gambia's numismatic history is that not all coins of the monetary board were monetised immediately in 1913, the 1/10 penny was introduced only in 1937. Maybe the small change was still covered by French coins or traditional money like cauri shells.

The Manding word "dalasi" is already used on the 4 and 8 shilling coins issued after independence. Its origin is not completely clear, probably a simple adaptation of "dollar".

cheers
--
Harald
http://www.liganda.ch (monetary history & numismatic linguistics)

BC Numismatics

Harald,
  Do you know where the word 'Butut' originates from?

Aidan.

Harald

Quote from: BC Numismatics on February 27, 2009, 12:36:51 PM
Harald,
  Do you know where the word 'Butut' originates from?

Aidan.

unfortunately not.
It seems to be wolof, and I haven't been able to get hold of a dictionary so far.

BTW, there is another linguistic mystery connected to Gambia. On the 4 shilling coins the denomination "dërëm" is used in wolof. In Senegal the word was used for the piece of 5 francs (in silver). Commonly, the word is explained as an adaptation of "dirham", but this seems doubtful to me and I'd rather vote for an adaptation of "dollar", even if you need more handwaving to explain the phonetical drift. I tried once to contact a university in Dakar about this (and the butut) but the internet in Africa is a particular story.

cheers
--
Harald
http://www.liganda.ch (monetary history & numismatic linguistics)

Figleaf

An unidentified coin is a piece of metal. An identified coin is a piece of history.

translateltd

Quote from: BC Numismatics on February 28, 2009, 12:32:56 AM
Harald & Peter,
  I wouldn't be too surprised if the word 'Butut' was the Wolof word for 'Peanut',as Gambia is very well known for its cultivation of peanuts in the same way that Ghana is very well known for the cultivation of cocoa beans.

Aidan.

I seem to recall reading somewhere (COIN Monthly??) that it does indeed refer to the peanut, though in which language I wouldn't be sure.


africancoins

When in The Gambia a friend of mine was told that "Butut" means "the small". Surely it would be of ittle mystery to Harald if this had been the word for peanut/groundnut.

Thanks Mr Paul Baker

Harald

Quote from: Figleaf on February 28, 2009, 12:29:04 AM
Why would dirham be doubtful?

Peter
the dirham was a small silver coin, also the Arabs never called the Spanish dollar like this (and who else than the Arabs would have told the Wolof an Arabic monetary term). furthermore there is no evidence that Arabic dirham ever circulated in the region. but, I know that no real hard evidence, more of a gut feeling (plus experience that in etymology obvious similarities are often wrong).

cheers
--
Harald
http://www.liganda.ch (monetary history & numismatic linguistics)

Harald

Quote from: africancoins on February 28, 2009, 10:24:32 AM
When in The Gambia a friend of mine was told that "Butut" means "the small". Surely it would be of ittle mystery to Harald if this had been the word for peanut/groundnut.

Thanks Mr Paul Baker

great, I found the same translation on the Web.
I'll add this to my references (as unconfirmed until I get hold of a printed dictionary).

one etymological mystery less  :)

cheers
--
Harald
http://www.liganda.ch (monetary history & numismatic linguistics)