Summary

Australia New South Wales Sydney
175th Anniversary of the issue of the Holey Dollar 1988 (AD)
Mint: not recorded
Other Details: A silver-plated medal issued by M.R. Roberts to mark the 175th anniversay of the issue of the Holey Dollar, Australia's first coinage. Governor Lachlan Macquarie was responsible for introducing the 'Holey Dollar'. In 1813 he overcame an acute currency shortage by purchasing Spanish silver dollars (then worth five shillings), punching out the centres and creating two new coins - the 'Holey Dollar' (valued at five shillings) and the Dump (valued at one shilling and three pence). This single move doubled the number of coins in circulation, as well as increasing their total worth by 25 per cent. It also prevented the coins from leaving the colony.

Physical Description

A silver plated medal issued by M.R. Roberts Within central line circle, a crown, above, NEW . SOUTH . WALES; around within broad rim, 175TH ANNIVERSARY OF THE HOLEY DOLLAR . 1813 - 1988 . Within denticled central circle, 1813 / 1988 around in small letters, FIVE SHILLINGS. Imitating the Holey Dollar, this appears as if stamped over an inverted Arms of Spain, with top of crown pillars and base of shield shown; around, HISPAN . ET . IND . REX . M . 8R . F. F.

Obverse Description

Within central line circle, a crown, above, NEW . SOUTH . WALES; around within broad rim, 175TH ANNIVERSARY OF THE HOLEY DOLLAR . 1813 - 1988 .

Reverse Description

Within denticled central circle, 1813 / 1988 around in small letters, FIVE SHILLINGS. Imitating the Holey Dollar, this appears as if stamped over an inverted Arms of Spain, with top of crown pillars and base of shield shown; around, HISPAN . ET . IND . REX . M . 8R . F. F. Note: The M has a small o above it - the mint mark of the Mexican Mint

Edge Description

Plain

Significance

Governor Lachlan Macquarie (1761 - 1824) was responsible for introducing Australia's first coinage, the 'Holey Dollar'. In 1813 he overcame an acute currency shortage by purchasing Spanish silver dollars (then worth five shillings), punching out the centres and creating two new coins - the 'Holey Dollar' (valued at five shillings) and the Dump (valued at one shilling and three pence). This single move doubled the number of coins in circulation, as well as increasing their total worth by 25 per cent. It also prevented the coins from leaving the colony. -Macquarie Bank web site http://www.macquarie.com.au. -D. Tout-Smith 7/10/2003.

More Information