A Rarity from the Turks and Caicos

In a recent blog post, we covered an amazing group of notes from British Guiana, which will be offered in our Summer 2025 Global Showcase Auction. In this blog post, we look at another British Commonwealth rarity offered in the sale, this time from the Turks and Caicos Islands.

The Turks and Caicos Islands are in the Caribbean, south of the Bahamas, with which they are geographically contiguous. A British Overseas Territory that has been a part of the United Kingdom since the 18th century, today it’s a popular tourist destination and an offshore financial center. Before tourism came to the islands, however, salt exports were the primary industry. There are eight main islands, along with numerous smaller islands, separated into two distinct island groups. Despite a fairly large population for a British Overseas Territory, the islands were traditionally governed from elsewhere, including the Bahamas, Bermuda, and Jamaica, through various political constructs. While the islands have sought their independence, or even a joint federation with the Bahamas, they remain politically associated with Great Britain to this day. 

The islands welcomed nearly two million tourists in 2024, with more than 1.2 million of those arriving by cruise ship. Those tourists used U.S. dollars, which has been legal tender since 1973, when it replaced the Jamaican dollar. From time-to-time the islands have also issued coins denominated in Crowns, but those don’t circulate and are properly classified as “NLCT,” or non-circulating legal tender coins (equal to the US dollar and minted for the collector market). However, in the early 20^th century, a group of notes denominated in Shillings and Pounds was issued by the Government of the Turks & Caicos Islands. These are the only pieces of paper money ever issued specifically for the islands, and they are rare in any format.

The Pick catalog lists four issues, consisting of three denominations (5/- Shillings, 10/- Shillings, and 1 Pound), but the Banknote Book further divides it into seven different issues. Due to the rarity of these notes it is possible that more varieties exist. The design is fairly simplistic and is similar to notes from other regions of the British Empire, including the Falkland Islands and Fiji. The notes were printed by Thomas de la Rue in England. The earliest varieties were shipped undated and unsigned, while sometime around 1913, a change was made and the date and signature were preprinted. Depending on the issue, some notes feature a blank back while others show the coat of arms flanked by engraved guilloches. Before issuance, most notes (if not all) featured a counterfoil at left that was separated from the note upon issue and retained by the government.

As previously mentioned, surviving examples are rare in any format. We have previously offered fewer than a handful of notes from the Turks and Caicos in our auctions. Just a few issued notes are known of all three denominations, and the print totals were minuscule, based on the serial numbers that have been observed. The sole hand-signed / hand-dated example that we are aware of is the note recently consigned to us. This 1 Pound note is dated December 3rd, 1903, and is one of the earliest notes issued of the highest denomination, with a fairly low 3-digit serial number. The signatures observed are those of Alexis Wynns Harriott, a well-known businessman from Salt Cay who had served as the island’s commissioner from 1888 to 1891, and his son, Edmund Cowles Harriott. Both were Directors of Currency at the time of issue, although little else is known of their tenure and role in the currency issuance.

Collectors may be familiar with another 1 Pound note that appeared at public auction elsewhere in 2020 and 2024. That note, dated 1918, is the only other issued example from the Turks and Caicos Islands that has been offered at public auction in recent history. However, we must note that it has been severely discolored, with the red faded to orange. By comparison, the note that will be offered in our Summer 2025 Global Showcase Auction is an original note graded Choice Fine 15 by PMG. While some rust damage is observed and mentioned by the grading service, it does not feature any repairs, and the eye appeal is excellent with a bold date and signatures. With the discolored note selling twice for nearly $30,000, we would not be surprised if this superior example, with a much earlier (handwritten) date, brings a new record for any note from the Turks and Caicos.

In the coming weeks, we will feature several other highlights from the Summer 2025 Global Showcase Auction in this blog. Additional highlights that have already been consigned include notes from Chile, Danish West Indies, Islas Malvinas, Leeward Islands, and Mexico, among others. We are still accepting consignments from the Americas for the Summer 2025 Global Showcase auction, but the deadline is rapidly approaching. To take advantage of the strong market and to see your items offered in an auction catalog full of star power, contact Dennis Hengeveld at [email protected] or call 800-458-4646.