Forming part of British America, Bermuda was governed under royal charter by the Somers Isles Company until 1684, when it became a crown colony. The first African slaves were taken to Bermuda in 1616, but a full plantation economy did not develop, and the slave trade largely ceased by the end of the 17th century. Bermuda’s first postage stamps were produced locally in 1848 by Hamilton postmaster William B. Perot, consisting of the words “HAMILTON BERMUDA” in a circle, with the year and Perot’s signature in the middle. Known as the Perot provisionals, they are among the great rarities of philately with a CV between 75.000 and 275.000 £.