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Australian Coins From the 1800s

The Australian colony of New South Wales found itself in dire need of coinage by the 1800s. At this time, the colony was beginning to establish itself as economically viable. At first, imported coins provided a basis for currency, but as the colony gained independence, minting coins became feasible. By 1852, two mints were producing coins in Australia. These coins are much sought-after today by historians and collectors.

Proclamation Coins
- Before Australia began minting its own coins, the colony of New South Wales issued a proclamation in 1800 establishing a strict value for various imported coins. The value of these coins in Australia was slightly higher than the value of the coins outside of Australia, convincing traders to spend coins in the colony instead of exporting them when they traveled. These coins came from India, Spain, Portugal, Britain and the Netherlands.
Holey Dollar
- The Holey Dollar was one of Australia's first formal coins. These coins were used to relieve tensions concerning the lack of coinage in the colony and were first produced in 1813. The coin was made by punching the center our of a Spanish dollar, leading to the name "Holey Dollar." By punching out the center of the coin, the coin was made worthless if exported. The worth of these coins in Australia was five shillings sterling.
The Dump
- The Dump was a coin worth 15 pence sterling. These coins were also created by punching out the interior of Spanish dollars. While the outside of the Spanish coin became the Holey Dollar, the interior of the Spanish coin became the Dump. In 1813, the Dump was declared legal tender by Governor Macquarie and began to be imprinted with a stamp that displayed its worth.
Gold Sovereign
- First issued in 1852, Australian gold sovereigns were the equivalent of one British pound. The coin featured the profile of the British sovereign Victoria with the words "Victoria D: G: Brittaniar: Regina F. D." The reverse side features a wreath and crown design with the words "Australia One Sovereign" and the name of the mint that produced the coin. The Sydney and Melbourne mints were the first to produce these coins.

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