The pound was the currency of Bermuda until 1970. It was equivalent to the British pound, alongside which it circulated, and was similarly divided into 20 shillings each of 12 pence. For details of notes and coins, see British coinage and British banknotes. ... The shilling (or informally: bob) was an English coin first issued in 1548 for Henry VIII, although arguably the testoon issued about 1487 for Henry VII was the first English shilling. ... A variety of coins considered to be lower-value, including an Irish 2p piece and many US pennies. ...

The first Bermudan currency issue was the so-called "hogge money", twopence, threepence, sixpence and shilling coins issued between 1612 and 1624. Their name derives from the appearance of a pig on the obverse. At this time, Bermuda was known as Somers Island and this name appears on the coins.

The next coins to be issued were pennies in 1793. However, no further currency issues were made for the island until 1914, when the government issued one pound notes, with other denominations appearing from 1920. In 1959 and 1964, one crown (five shillings) coins were issued for circulation. Crown names several entities associated with monarchy: A crown (headgear), the headgear worn by a monarch, other high dignitaries, divinities etcetera. ...

Bermuda decimalized in 1970, replacing the pound with the dollar at a rate of 1 dollar = 8 shillings 4 pence, equal to the US dollar. In the management of currencies, decimalisation (or decimalization) is the process of converting from traditional denominations to a decimal system, usually with two units differing by a factor of one hundred. ... Bermudian Pound and Dollar Bank Notes. ... The United States dollar is the official currency of the United States. ...