 In 1842, sterling was established as the official currency of the island.The first series of coins was produced between 1791 and 1798 in denominations of 1½, 5½ and 11 bits, with the 5½ bits holed 4 reales coins, the 11 bits holed 8 reales coins and the 1½ bits the plugs from producing the 11 bits coins.The second series was issued in 1813 and consisted of 3, 4, 6, 12 and 16 bits.