Belize is a coastal Central American nation on the Caribbean Sea, bordered to the north by the Yucatan area of Mexico and to the west and south by Guatemala. Belize was the only British colony in Central America, when it was known as British Honduras. It was initially settled by the Mayans in 1500 BC, and a Mayan minority still exists.
The Belizean currency since 1873 has been the dollar, and even as a British colony it pegged its currency to the U.S. dollar more often than the British pound. The first silver coins for Belize were minted by the Royal Mint of Britain in 1894. Prior to this time, silver Spanish, British and Guatemalan coins had been used in trade. The last silver Belizean coin in circulation was the 10 cent piece in 1956. Since then, all Belizean silver coins have been commemorative mintages. Some coins minted by the Franklin Mint had the Belize coat of arms on obverse, while those minted by the Royal Mint had the image of Queen Elizabeth II.