Saint Vincent and the Grenadines is a sovereign island country in the Caribbean which uses the Eastern Caribbean Dollar (EC$) as its currency; it is the common currency of six independent states and two British Overseas Territories. The EC$ has both common and national issues. All common circulating coins are issued under the authority of the Eastern Caribbean Central Bank and have no issuing country specified on them. Separately, each member country can also strike coins bearing its national symbols; these coins are legal tender in all members states, and are usually commemorative or bullion not intended for general circulation. Most of the member states share the same monarch with the United Kingdom, so that the effigy of the monarch is displayed on the coins and banknotes of the currency.
Saint Vincent and the Grenadines has authorised some foreign mints to strike coins under its issuing authority for collector's purposes. Some of these are in popular bullion formats, such as one troy ounce (1 oz) of silver.