New South Wales Holey Dollar Replica

A historic memento of Australia's early colonial days, this value-for-money issue is an accurate full-size replica of one of Australia's great rarities.

As the colony of New South Wales continued to grapple with the difficulties of economic stability and, in particular, retention of currency, Australia’s fifth Governor, Lachlan Macquarie, had a brilliant idea. Having procured 40,000 SpanishAmerican Silver 8 Reales from India in 1812, Macquarie ordered convicted forger William Henshall to cut the centre from each coin. Henshall then counter-struck new denominations on each, with the centre piece or ‘Dump’ valued at 15 pence, and the outer ring of the Spanish Silver 8 Reales or ‘Holey Dollar’ valued at five shillings. In one fell swoop, Macquarie had not only doubled the number of coins in circulation from 40,000 to 80,000 – he had also increased the circulating value of those coins by 25%.

Australia’s first locally struck coins, the 1813 Silver Holey Dollar and Dump were the lifeblood of the early colonial economy until legal tender status was withdrawn in 1829. With a vast majority swapped for British currency, or melted for the intrinsic value, the number of surviving 1813 Silver Holey Dollars is thought to be in the vicinity of 300.

Beyond its desirability as a crucial piece of early Australiana, and a genuine artefact of the post-Settlement colonial period, the 1813 Holey Dollar is naturally considered one of Australia’s most important coins, and among the nation’s greatest numismatic rarities.

The 1813 replica Holey Dollar presented in this pack forms a fine tribute to this illustrious coin.