The Kalākaua coinage is a set of silver coins of the Kingdom of Hawaii dated 1883. They were designed by Charles E. Barber, Chief Engraver of the United States Bureau of the Mint, and struck at the San Francisco Mint. The coins met a hostile reception from the business community in Honolulu, who feared inflation of the currency in a time of recession.
About Kalākaua coinage in brief
The Kalākaua coinage is a set of silver coins of the Kingdom of Hawaii dated 1883. They were designed by Charles E. Barber, Chief Engraver of the United States Bureau of the Mint, and were struck at the San Francisco Mint. The coins met a hostile reception from the business community in Honolulu, who feared inflation of the currency in a time of recession. After legal maneuvering, the government agreed to use over half of the coinage as backing for paper currency, and this continued until better economic times began in 1885. They remained in the flow of commerce on the islands until withdrawn in 1903, after Hawaii had become a US territory. In 1847, King Kamehameha III issued a one-cent coin, most likely struck by a firm in New England. It was unpopular with merchants, who preferred not to deal with such small amounts. Some were issued in change in government transactions, but only about 12,000 ever circulated. The government hoped to improve Native Hawaiian morale as their numbers and influence had both been declining over the previous few decades. Having the kingdom issue its own coins was one means by which the government could improve their morale. The king became more interested in coinage bearing his likeness during his tour of the world in 1881, and five pieces were sent to a company to use in his coinage, which was later sold to a mining company in New Caledonia. In the 1880s, the kingdom issued its first currency notes, technically certificates of deposit, redeemable in silver coin and with denominations ranging from USD 10 to USD 500. At that time in Hawaii, gold coins brought a premium over their face value if purchased with silver; only gold could be used for certain transactions, such as paying customs duties.
The laws of Hawaii reflected this, making gold American coins legal tender for an unlimited amount and American silver coins legal tender to USD 50. By 1883, most coins on the Islands were American, due to the close economic integration between islands and mainland. This was necessary because such coins, brought to the islands by foreign trade, circulated as a means of exchange alongside American silver and gold pieces. The Hawaiian royal government periodically published tables of the value of non-US coins in terms of the dollar. All of the coins were struck in 1883 and 1884, though all bear the earlier date. The failure caused the government to reconsider plans to issue more denominations of coins, and they were not issued until 1885, when they were finally issued in denominations of $1, $2, $3, $4, $5, $6, $7, $8, $9, $10, $11, $12, $13, $14, $15, $16, $18, $20, $21, $22, $23, $24, $25, $26, $27, $28, $29, $30, $31, $32, $33, $34, $36, $38, $39, $40, $41, $42, $43, $44, $45, $46, $47, $48, $50, $51, $52, $53, $54, $55, $56, $57, $58, $59, $60, $61, $62, $63, $64, $73, $74, $75, $78, $79, $80, $81, $82, $83, $84, $85, $86, $87, $88, $89, $90, $91, $92, $93, $94, $95, $102, $103, $104, $99, $100, $101, $106, $105, $110, $111, $108, $107, $112, $109, $113, $114, #1, #2, #3, #4, #5, #6, #7, #8, #9, #10, #11, #12, #13, #14, #15, #19, #16, #17, #18, #20, #21, and #7 was struck at San Francisco in 1884.
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