1 Leone - Elizabeth II Proof Issue

Sierra Leone's Leone currency was introduced at independence in 1964, replacing the British West African pound at a rate of two Leones to one pound. The Bank of Sierra Leone was established that same year specifically to issue the new national coinage, and this proof striking represents the inaugural presentation of the denomination. Proof sets from this first issue were distributed primarily to collectors and foreign dignitaries rather than entering circulation, which is why the circulation strikes — produced in far smaller numbers than one might expect — are actually scarcer in problem-free grades than the proofs.