2013 AUSTRALIAN HOLEY DOLLAR & DUMP 1 OZ. SILVER PROOF SET - 200TH ANNIVERSARY

Description

!!
CELEBRATES A PIECE OF AUSTRALIAN HISTORY !!
HOLEY DOLLAR & DUMP
200
TH
ANNIVERSARY
1 OZ. PROOF SILVER 2-COIN SET
!! SOLD OUT AT MINT !!
IN STOCK - READY TO SHIP
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 authorized the issue of the colony’s own currency.
In 1813, he had the centers 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 center (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 demonetized.
!! SOLD OUT AT MINT !!
DON’T MISS OUT ON THIS VERY LIMITED SET
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Authorized Distributor for Perth Mint, Australia.