Catalog
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| Issuer | Bermuda Monetary Authority |
|---|---|
| Year | 2006 |
| Type | Non-circulating coin |
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| Currency | Log in to see details |
| Composition | Log in to see details |
| Weight | Log in to see details |
| Diameter | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Latin |
| Obverse lettering | BERMUDA ELIZABETH II IRB 2006 |
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| Additional information |
The Bermuda Monetary Authority has issued commemorative gold proofs since the 1970s, operating as a currency board rather than a central bank — meaning every Bermudian dollar in circulation is fully backed by a corresponding US dollar reserve. The $3 denomination exists purely as a collectible face value with no practical monetary function, a common device among small-territory issuers to create numismatically attractive denominations that would never survive in pocket change.
The Constellation reference almost certainly nods to the 1943 wreck of the SS Constellation off Bermuda's north shore, which deposited a cargo of contraband and general goods now embedded in the island's dive tourism identity.