Holey dollar & dump coins, 1813
On 30 September 1813 the'holey dollar' and 'dump' coins became legal tender in NSW by a proclamation issued by Governor Macquarie (which also made it an offence to melt them down or export them).
To address the acute shortage of coinage in the colony, the British authorities had arranged with the Directors of the East India Company that £10,000 worth of dollars be purchased in India and shipped to NSW ‘on the Government account’, and 40,000 Spanish dollars were received in late 1812.
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To double available coins and ensure they remained in the colony Macquarie commissioned convicted forger William Henshall to cut the centre (the dump) out of each coin and stamp them with NSW. The smaller 'dump' was worth fifteen pence and the larger 'holey dollar' (with a hole in the centre) was worth five shillings.
Although these coins became legal tender on 30 September they were not available for general issue until January 1814.
Related
- National Museum of Australia. (2021). Holey dollar
- The Royal Australian Mint. Australian coins – a fascinating history
In the catalogue
Colonial Secretary's Correspondence
Published on