The E-Sylum:  Volume 10, Number 14, April 8, 2007, Article 30

MACQUARIE BANK HOLEY DOLLAR LOGO

While looking for other things this week I came across this note about 
Australia's Macquarie Bank. The Bank's logo is a stylized version of 
the 'Holey Dollar', which Lachlan Macquarie introduced as the first 
domestic coinage of the colony.

"Macquarie Bank adopted its name from Governor Lachlan Macquarie, a 
leading pioneer and the man responsible for transforming the early 
settlement in Australia from a penal colony into a dynamic economy." 

"In 1813 Governor Lachlan Macquarie 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 not only doubled the number of coins in 
circulation but increased their total worth by 25 per cent and prevented 
the coins from leaving the colony.

Governor Macquarie's creation of the Holey Dollar was an inspired 
solution to a difficult problem and for this reason it was chosen as 
the symbol of the Macquarie Group. "

To read the complete story, see: Full Story
Full Story 

For more information on Lachlan Macquarie, see: Lachlan Macquarie

[There is also a Macquarie University Museum which "holds a modest coin 
collection used for basic teaching within the undergraduate Ancient 
History programs and for the Education Programs of the Museum. This 
collection has been published and is available for sale. Nixon, C.E.V. 
(1996). Catalogue of the Coins in the Macquarie University Museum of 
Ancient Cultures. Macquarie University: Sydney, Australia. Price $11.00 
plus postage and handling. For orders, contact Karl Van Dyke on (02) 
9850 9263 or email: karl.vandyke@mq.edu.au" 

To visit the Australian Centre for Ancient Numismatic Studies, see: 
Australian Centre for Ancient Numismatic Studies

  Wayne Homren, Editor

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