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1 Cent / 5 Bit - Christian IX
| Issuer | Royal Danish Mint (Den Kongelige Mønt) |
|---|---|
| Year | 1905 |
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| Composition | Log in to see details |
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| In circulation to | 1917 |
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|---|---|
| Obverse script | Latin |
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| Reverse lettering | 1 CENT 5 BiT G.I. |
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| Additional information |
This coin exists because of an awkward colonial arithmetic problem. Denmark's Virgin Islands used a dual-currency system — the Danish krone alongside the local bit, at a fixed rate of 5 bits to 1 cent and 100 cents to 1 franc — a legacy of the islands' history under multiple European monetary influences. The 1905 issue was struck in Copenhagen for circulation in the Danish West Indies, a territory Denmark was already quietly trying to sell to the United States. Negotiations had actually produced a draft treaty in 1902, which the U.S. Senate ratified but the Danish Folketing rejected by a single vote.
The sale eventually went through in 1917 for $25 million in gold.