The invention of rum and the subsequent demand for this cheaper and abundant libation turned sugar cane into the island's staple crop nearly overnight. Rum became so profitable that other cash crops like tobacco, indigo, and ginger were replaced with sugar; the new economic backbone of the islands.
The Caribbean island governors concocted a plan to offer discount pricing on rum to the Royal Navy in hopes of gaining protection from the pirates of the Caribbean. As it were, pirates were making a killing - literally and figuratively - by capturing the prized cargo of lesser vessels and running the spoils (rum) to the heavily taxed colonies in North America and West Indies. Limited Mintage of only 2,500 coins worldwide.
EC8 is short for Eastern Caribbean 8 and is a coin series that will features coins in both gold and silver from the 8 islands that are part of the Eastern Caribbean Central Bank, which is the issuing monetary authority for the coin program minted by Scottsdale Mint. The most distinguished name in bullion. Keen on the tropical climate and virgin soil, he decided it was the perfect place to offload his cargo of sugar cane trimmings from the Canary Islands. For nearly 150 years' locals cultivated the plant for molasses, honey, and sugarcane juice. This item is in the category "Coins & Paper Money\Bullion\Silver\Coins".
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