Anchor Money

The so-called anchor money refers to a series of silver coins that were minted in 1820 and 1821 specifically for the British colony of Mauritius. These special coins bear a distinctive symbol on their obverse: an anchor, which not only refers to the island’s maritime significance but also represents a powerful symbol of British naval power. Anchor money comes in denominations of 1/2, 1/4, 1/8 and 1/16 dollars, reflecting the strong influence of the Spanish and American dollar standards in international trade at the time.
The minting of the anchor money was part of a strategic attempt to establish a functioning monetary system for Mauritius that would meet both local needs and the requirements of overseas trade. The coins were produced in London and were intended to replace the existing mixture of foreign coins and means of exchange on the island. Their high silver content and distinctive design quickly earned them the trust of the population and regional trade. It is particularly noteworthy that these coins, with their dollar denomination, were an exception in a British colony, as Great Britain preferred the pound sterling system at the time.
After the currency conversion to sterling in 1826, the anchor coins still in circulation were withdrawn from Mauritius. However, they did not disappear completely from circulation, but found their way into the British West Indian colonies, particularly Jamaica and Trinidad, where they continued to be used as a means of payment. This continued use highlights the practical functionality and acceptance of the coins beyond regional borders – an aspect that makes them particularly interesting for colonial numismatics today.
From a numismatic point of view, the anchor coin is a fascinating example of transitional currencies in colonial contexts. It clearly shows how economic necessities, colonial interests and pragmatic monetary policy could lead to the creation of unique coin types. The combination of great rarity, colonial historical significance and symbolic design makes these coins highly sought-after collector’s items today. Particularly well-preserved specimens with a clearly recognisable anchor symbol and complete legend fetch considerable prices at auctions and are an indispensable part of any collection of British colonial coins.