The Marshall Islands were discovered by the Spanish in the seventeenth century, but were named after the British sea captain, John Marshall, who explored them in 1788. The Marshall Islands were a German protectorate from September 13, 1886 until April 1, 1906 when they became part of German New Guinea. The Japanese occupied the Marshall Islands on October 3, 1914, and Japan received a League of Nations mandate to administer the islands in 1920. The United States occupied the Marshall Islands in 1944, became a UN Trusteeship of the United States between 1951 and 1990. The Marshall Islands became part of the Federated States of Micronesia. The Marshall Islands gained their autonomy on May 1, 1979, signed a free association agreement with the United States on October 21, 1986, and gained their final independence on December 22, 1990.
German Mark (DEP) coins, issued by the New Guinea Company were used in German New Guinea until 1914 when the Japanese introduced the Yen (JPY). After the United States occupied the Marshall Islands, United States Dollars (USD) were introduced. Since gaining its independence, the Marshall Islands has issued over 500 coins for numismatic purposes, but none for local use. |
