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Coin - Holey Dollar (5 Shillings), New South Wales, Australia, 1813 Numismatics Reg. No: NU 3264

Summary:
Australia New South Wales Sydney
Holey Dollar, 1813
Struck from an 8 Real piece from the mint at Potosi dated 1783 with the counterstamp dies combination II/B
Spalding 9

In 1813 Governor Lachlan Macquarie overcame an acute shortage of currency by arranging for the purchase of Spanish silver dollars, having the centres punched out and therein creating two new coins - the 'Holey Dollar' (valued at five shillings) and the 'Dump' (valued at one shilling and three pence). This doubled the number of coins in circulation and increased their total worth by 25 per cent. The work was carried out by William Hanshall, a convict transported for forgery.
Description:
A ring shaped silver coin (40 mm diameter) manufactured by cutting a circular 'dump' from the centre of a Potosi mint 8 real piece of 1783 and counterstamping the words NEW SOUTH WALES 1813 around the central hole on one side (the obverse) and the words FIVE SHILLINGS on the other (the reverse) together with a spray of leaves with the engraver's initial H at the centre.
Around the rim of the obverse of the original coin CAROLUS . III . DEI . GRATIA . 1783 . ; the host coin featured a laureate bust of Charles III (mostly removed with the central 'dump') facing right. Around the rim of the reverse of the original coin (monogram) . 8R . P . R. HISPAN . ET IND . REX . ; and featuring a crowned shield between pillars. Most of the shield has been removed by the holing for the 'dump' and the counterstamping.
Acquisition Information:
Transfer from National Gallery of Victoria (NGV), 1976
Discipline: Numismatics
Dimensions: 39 mm (Diameter)
Weight: 20.981 g (Weight)

More information

Tagged with: economics, european settlement of australia, holey dollars
Themes this item is part of: Numismatics & Philately Collection
Primary Classification: COINS
Secondary Classification: Australia - New South Wales
Tertiary Classification: working strikes
Series: Holey Dollar
DateEra: 1813 AD
Denomination: Holey Dollar (5 Shillings)
Obverse Description: A ring shaped silver coin manufactured by cutting a circular 'dump' from the centre of a Potosi mint 8 real piece of 1783 and counterstamping the words, NEW SOUTH WALES 1813 around the central hole. Around the rim of the host coin, CAROLUS . III . DEI . GRATIA . 1783 . ; the host coin featured a laureate bust of Charles III facing right, mostly removed by the holing and counterstamping.
Reverse Description: Around the central hole cut in the host coin, FIVE SHILLINGS together with a spray of leaves without the engraver's initial H at the centre. Around the rim of the host coin, (Potosi monogram) . 8R . P . R. HISPAN . ET IND . REX . and featuring a crowned shield between pillars. Most of the shield has been removed by the holing and counterstamping.
Edge Description: Circle & rectangle pattern
Inscriptions: Obverse: NEW SOUTH WALES 1813 CAROLUS III DEI GRATIA 1783
Reverse: FIVE SHILLINGS 8R . P . R. HISPAN . ET IND . REX .
Shape: round/holed
Material: Silver
Issued By: New South Wales, Australia
Mint: Potosi (Mint), 1783
Artist: William Henshall
References: Mira Noble No. 1783/2 Dies II/B
Spalding 9
Bibliography:
  1. [Book], W Noble - Noble Numismatics, Dr William Mira, The Holey Dollars of New South Wales, Australian Numismatic Society, Sydney, 1988

Comments

Max Purdy Posted on 03 Nov 2010 1:52 PM
I can recall when working in a betting shop prior to decimal currency many punters referred to a five shilling bet as a dollar. Please comment or confirm this as noone believes me. Thanks
Discovery Centre Posted on 05 Nov 2010 3:47 PM
Museum Victoria Comment
Hi Max
You are right and at least one of those who read your comment remembers it too (an older reader!) The term “dollar” was used for “five shillings” (5/-) or the crown coin, the reason being because of its similarity to the American dollar coin. The crown was also called an “oxford” too from rhyming slang for a dollar (“oxford scholar”).

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