Goods and services may still be priced in cents, but cash transactions are now rounded to the nearest dollar.

The history of currency in Jamaica should not be considered in isolation of the wider picture in the British West Indies as a whole.

This relates to the fact that for nearly four hundred years Spanish dollars, known as pieces of eight were in widespread use on the world's trading routes, including the Caribbean Sea region.

However, following the revolutionary wars in Latin America, the source of these silver trade coins dried up.

These in particular were used in church collections due to a feeling by the black population that copper coins were inappropriate for that purpose.

In 1839, an act was passed by Parliament declaring that as of 31 December 1840, only British coinage would be legal tender in Jamaica, demonetizing all of the Spanish coins, with the exception of the gold doubloon which was valued at £3 4s.

The emancipation of the slaves in 1838 increased the need for coinage in Jamaica, particularly low-denomination coins, but the blacks were still reluctant to use copper.

From its introduction, as a result of elevated levels of inflation during the 1980s and especially the early 1990s, the Jamaican dollar has fallen from a peak of J$0.77 to US$1 in its first few years of circulation to around J$131 to US$1 as of July 2018.

With the exception of a smaller bronze 1 cent, the compositions, sizes, and shapes of the coins were identical to those they replaced.

[7] It bears the portrait of former Prime Minister of Jamaica, The Honourable Hugh Lawson Shearer.

The back of the commemorative note features the Bank of Jamaica headquarters building in Nethersole Place set against a background of morning glory blossoms.

[8] In 2012, the Bank of Jamaica introduced a new family of banknotes commemorating the country's Golden Jubilee.

The unique image, which is normally on the reverse side of each note, has been replaced by a photograph of a group of children from Central Branch Primary School, from 1962.

Currently, the Jamaican banknotes are printed on a cotton material which has a relatively short life in the country's tropical climate and other circulation conditions, but the new notes will come on enhanced substrates.

The $100 note is printed on a material called "hybrid", a combination of a protected polyester film layered on a cotton fiber core.

Varnishing creates a moisture-proof layer to protect the banknotes against surface soiling and reduces the extent to which they will absorb moisture, contaminant particles and microorganisms.

[11] The $1000 note features an image of the Jamaican Swallowtail, the largest butterfly in the western hemisphere which is also endemic to Jamaica.

At the 2022/23 Jamaican Budget Debate, the Minister of Finance and the Public Service, Dr. the Honorable Nigel Clarke, revealed the new banknote series commemorating the 60th anniversary of Jamaica.