EAST CARIBBEAN STATES $100 BANKNOTES

The first $100 type issued by the East Caribbean Currency Authority

East Caribbean States: An Introduction
Starting in the early 17th century, the British claimed several islands in the Caribbean, competing directly with Dutch, French and Spanish interests in the region. Known as the British West Indies, early claims included St. Kitts (the first British settlement in the region, in 1624 by Thomas Warner), Antigua and Montserrat (both in 1632). With possessions in both the leeward and windward islands of the Caribbean, British control stretched over a large area, and the region was collectively known as the British West Indies. The economy of the region primarily focused on sugarcane, which flourished in the tropical climates. Initially the islands were divided between the leeward and windward islands, but in 1962 most were combined into the short-lived West Indies Federation. When this was dissolved some countries became independent, while others became colonies controlled directly by London, later gaining independence. It was these colonies that would introduce the East Caribbean Dollar, in 1965, and most continue to do so to this day, even after independence, although some changes among the members have been made over the years.

The East Caribbean Dollar
The East Caribbean Currency Union was founded in 1965, and that same year the East Caribbean Dollar was introduced. The islands that used the currency were Anguilla, Antigua and Barbuda, Barbados, Dominica, Montserrat, Saint Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines. Grenada joined in 1968 and Barbados withdrew in 1972, deciding to issue its own currency instead. This initial series included four denominations: $1, $5, $20 and $100. The initial three denominations are primarily a single color (red, green and purple respectively), while the $100 is more colorful, with green, blue, red and black colors seen. The design on all denominations is the same, featuring the striking portrait of Queen Elizabeth II by Pietro Annigoni. The back features a tropical scene, depicting St. George Harbor in Grenada.

Type C Back design of the first issue $100

During its initial issuance period the notes were no different, regardless of the location they were issued. The only changes made during this period were the signatures on the front of the note and the aforementioned list of countries that were part of the Currency Union. Starting in 1983 after the East Caribbean Central Bank was founded, a circled letter was overprinted in black on the left side of the note, which signified on what island the notes were initially issued. Regardless of letter all notes were valid for circulation on each of the various islands.

All varieties of the first issue $100 (Pick-16) are very scarce to rare. Population figures are low and offerings of any variety is relatively uncommon. Some of the scarcer varieties only come up for sale when major collections are sold. For example, a survey of auction records show that in the past decade Pick-16g, the variety with "A" overprint (for Antigua) has only been offered twice at public auction in uncirculated condition, and only three times in circulated grades.

Collecting the $100 Denomination The entire East Caribbean Series is highly collectible, and the series includes some very underrated varieties that have proven to be very difficult to find. As a general rule, the $100 denomination is the scarcest denomination, although there are some exceptions, depending on the series and island of issue.

Putting together a complete variety set of $100 notes from the East Caribbean States is a very challenging goal. Some varieties, particularly in the first few series are very difficult to find in any grade, and some early signature varieties of Pick-16 may be unreported to this day. More modern issues, while generally available at a more reasonable price point have continued to be scooped up by eager collectors, and certain varieties issued in the late 1990s and early 2000s have started to become very difficult to find. With the paper $100 now out of circulation supply of older varieties is limited, and with many of these islands being popular tourist destinations we can see demand to increase in future years. A good opportunity is to put together a type set, which while challenging, is not impossible. The four issues prior to 1994 will be the most challenging, particularly in higher grades.

To view various examples of the $100 from the East Caribbean States presently listed in our auction, please check our website: www.worldbanknoteauctions.com.

To read the complete article, see:
World Banknote Auctions Blog: East Caribbean States (https://us8.campaign-archive.com/?u=c039ea4babc5772fe79b66ca2&id=a7b63fc695)

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