PERTH MINT ISSUES HOLEY DOLLAR AND DUMP

As the first coins struck in New South Wales, the Holey Dollar and Dump hold an unequalled place in Australian numismatic history. In the early 1800s the colony had moved on from being a mere penal outpost and was fast developing into a well-established settlement, however, there was still no local currency.

Coinage was in such short supply that barter, particularly rum, and promissory notes had become the principal means of exchange. Promissory notes were privately issued by colonists on specially printed forms, but all too often were used fraudulently. Seeking an immediate remedy to the situation, Governor Macquarie authorised the issue of the colony’s own currency.

In 1813, he had the centres punched out from 40,000 Spanish dollars that the British Government had purchased in Madras through the East India Company. The outer ring (Holey Dollar) and centre (Dump) were counter-stamped with the name of the colony and their new monetary values, five shillings and fifteen pence, respectively.

The coins provided a vital short-term solution to the colony’s currency crisis and remained in official circulation until 1829 when they were demonetised.

NEW PRODUCT RELEASE
JANUARY 2013

To celebrate the 200th anniversary of the Australian Holey Dollar and Dump, The Perth Mint is releasing a commemorative two-coin set, struck from 99.9% pure silver in proof quality and issued as legal tender under the Australian Currency Act 1965. No more than 4,000 sets will be released worldwide.

The reverse of the Holey Dollar replicates the original dollar, including the outer inscription, DEI GRATIA 1788 CAROLUS III, with the inner rim inscription reading NEW SOUTH WALES 1813.

The reverse of the Dump replicates the original dump, depicting a crown and the inscription NSW 1813.

Each coin’s obverse depicts the Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, the year-date and monetary denomination.

For more information, or to order, see: 200TH ANNIVERSARY OF THE AUSTRALIAN HOLEY DOLLAR AND DUMP 2013 SILVER PROOF COIN SET (www.perthmint.com.au/catalogue/200th-anniversary-of-the-holey-dollar
-and-dump-2013-silver-proof-coin-set.aspx)

Wayne Homren, Editor

	NBS (coinbooks.org) Web