New South Wales ‘Holey dollar’ in National Museum of Australia
Holey dollar and dump, 1813 State Library of New South Wales. Image credit: National Museum of Australia, Canberra
The National Museum of Australia in Canberra has acquired an 1813 New South Wales ‘Holey dollar’ – the first currency minted in Australia.
In the early days of New South Wales the colony faced a shortage of currency and in1812 Governor Lachlan Macquarie imported 40,000 Spanish dollars, called ‘pieces of eight’, and had William Hensell, a convicted forger, cut the centre out of each coin.
The outer ring became known as a holey dollar and the centre was called a dump. Governor
Macquarie set their value at five shillings for the holey dollar and 15 pence for the dump, the coins went into circulation in 1814. In doing so, Macquarie created the first currency minted in Australia.
The coins were recalled from 1822 and replaced with sterling coinage. Experts estimate around 300 Holey dollars remain in circulation today. The National Museum of Australia acquired the Holey dollar at auction for a total price, including auction house commission and GST, of $129,315.
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Source: National Museum of Australia, Canberra
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