5 Shillings – Turks and Caicos Islands

In 1969, the Turks and Caicos Islands were a British Crown Colony operating under a currency board system, with their monetary affairs deeply integrated with those of Jamaica. The official currency was the Jamaican pound (£), a legacy of the islands' historical administrative links to Jamaica, which had ended in 1962. This arrangement meant the local economy was directly subject to Jamaica's monetary policy and the stability of its currency.

However, this dependency was becoming increasingly problematic. Jamaica had introduced its own decimal currency, the Jamaican dollar, in 1969, moving away from the pound sterling system. This shift created practical and symbolic complications for the Turks and Caicos, which had a much smaller and tourism-dependent economy. Local authorities and businesses recognized the need for a more stable and independent monetary identity, one not tied to Jamaica's evolving financial landscape.

Consequently, 1969 marked a pivotal year of transition. The colonial government passed the Currency Ordinance in preparation to introduce a new, distinct currency pegged directly to the British pound sterling. This set the stage for the 1970 introduction of the Turks and Caicos Islands crown, which was subdivided into 100 pence and fixed at a rate of one crown to one US dollar, providing the stability sought for the burgeoning tourism and financial sectors.