1 Black Dog

The Black Dog was a desperately improvised solution to chronic small-change shortages across the British Caribbean. Nevis, like many Leeward Islands, had virtually no official coinage infrastructure, and by 1801 the island's economy ran largely on cut and countermarked Spanish silver, warehouse receipts, and outright barter for minor transactions. Billon — that low-grade silver-copper alloy — was the currency of last resort, chosen precisely because it could be produced cheaply enough to make fractional coinage economically viable.

The name "Black Dog" almost certainly derives from the coin's dark, tarnished appearance: billon oxidizes quickly in tropical humidity.