9 Dollars - Elizabeth II San Pedro

Bermuda's nine-dollar denomination exists for one reason: the island's historic currency peg. Before decimalization in 1970, the Bermudian pound divided into 240 pence, and nine dollars converted cleanly to the old £2/3/- — a figure with nostalgic resonance for collectors but no practical monetary function. The denomination was never intended for circulation.

KM#A168 is a proof issue produced for the collector market, part of Bermuda's ongoing practice of issuing non-circulating legal tender in unusual face values. The .925 silver specification places it firmly in the commemorative rather than bullion category.