The dollar was the currency of Tobago

Tobago

Tobago is the smaller of the two main islands that make up the Republic of Trinidad and Tobago. It is located in the southern Caribbean, northeast of the island of Trinidad and southeast of Grenada. The island lies outside the hurricane belt...

 until 1814. The currency comprised various cut Spanish dollar

Spanish dollar

The Spanish dollar is a silver coin, of approximately 38 mm diameter, worth eight reales, that was minted in the Spanish Empire after a Spanish currency reform in 1497. Its purpose was to correspond to the German thaler...

s and countermarked French colonial coins. The dollar was subdivided into 11 bits, each of 9 pence

Penny

A penny is a coin or a type of currency used in several English-speaking countries. It is often the smallest denomination within a currency system.-Etymology:...

. In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar

Trinidad and Tobago dollar

The dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents...

, then the British West Indies dollar, before the Trinidad and Tobago dollar

Trinidad and Tobago dollar

The dollar is the currency of Trinidad and Tobago. It is normally abbreviated with the dollar sign $, or alternatively TT$ to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents...

was reintroduced.

Coins

In 1798, 8 reales coins were holed, with the plug countermarked with a script letter "T" to make 1½ bits coins and the holed dollar issued as 11 bits pieces. Some French colonial coins were countermarked with "TB" to produce 1½ and 2¼ pence pieces.