1 Cent – Zanzibar

In 1908, Zanzibar's currency situation was a complex tapestry reflecting its history as a commercial hub and its status as a British Protectorate. The official currency was the Indian Rupee, subdivided into 64 Pysa, a system inherited from the island's deep economic ties with the Indian subcontinent and its former role within the Omani Sultanate. This rupee was fixed to the British pound sterling at a rate of 1 rupee = 1 shilling 4 pence (or 15 rupees to the pound), formally anchoring Zanzibar's economy to the broader British imperial system.

However, the reality in the bustling markets of Stone Town and the clove plantations was one of concurrent circulation. Alongside the official rupee, the Maria Theresa Thaler (MT$), a large silver coin minted in Austria, remained a trusted and popular medium for high-value transactions and regional trade, particularly along the East African coast and with the Arabian Peninsula. Additionally, a variety of other silver coins, including British rupees and French 5-franc pieces, circulated freely, their value determined by their weight and silver content rather than a fixed face value.

This monetary plurality created practical challenges for administration and commerce, leading to periodic shortages of small change and reliance on informal exchange. The British authorities, seeking to streamline the economy, viewed this situation as inefficient. Consequently, 1908 fell within a period of gradual transition, as the Protectorate government actively worked to phase out the older silver currencies and solidify the exclusive use of the Indian rupee, a policy that would ultimately lead to the establishment of the East African Currency Board and a unified shilling system for the region a few years later.