An incredibly rare piece of Australian history, the 1813 New South Wales holey dollar, is set to go under the hammer for an estimated $150,000. This unique coin was the first currency minted in Australia and is part of a collection of historic coins and medals, including a Victoria Cross, being auctioned this month.
What Makes the 1813 Holey Dollar So Valuable?
The 1813 holey dollar is a doughnut-shaped coin, one of the rarest in existence, with only around 300 of them left. According to Jim Noble, managing director of Noble Numismatics, these coins were created to address a coin shortage in the early colony of New South Wales.
Governor Lachlan Macquarie imported 40,000 Spanish dollars to convert into local currency, as Britain was facing a severe silver shortage due to the Napoleonic Wars. The Spanish dollars were punched in the centre, with the inner ring stamped as “New South Wales 1813” and marked with “five shillings” on the other side, turning them into a local currency. The middle part of the coin became known as the “dump,” which also holds significant value.
Rarity and Price
Over time, the holey dollars were gradually withdrawn and sent back to England to be melted down, making them even rarer today. Currently, there are only about 1,000 “dumps” still in circulation, with individual pieces fetching up to $12,000 at auction.
According to Noble, the holey dollars can sell for as much as $40,000 to $50,000, depending on their condition, with some rare pieces even reaching $500,000. “The dumps” – the inner rings of the holey dollars – can range in value from $5,000 to $60,000.
A Coin That Could Be Found Today
Though rare, these coins have occasionally been found by lucky Australians, often using metal detectors along riverbanks. One holey dollar was even discovered in Sydney Harbour. Coin expert Matt Thompson mentions that some Aussies have inherited these coins from family members, with some even finding them in their grandparents’ collections.
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Other Historic Medals and Coins at Auction
The 1813 holey dollar is just one of several rare and valuable items featured in the upcoming auction. Another highlight is a Victoria Cross awarded to Afghanistan veteran Corporal Daniel Keighran, which is expected to fetch $1.25 million. The medal, along with a full set of 12 decorations, is being sold to help support his family.
In addition, two of Australia’s rarest circulating pennies from 1930 are set to sell for between $12,000 and $18,000. These pennies were never intended to be issued but were struck by mistake during the Great Depression. Another item in the auction is an 1852 Adelaide pound, one of Australia’s first gold coins, which is expected to sell for $15,000.
This month’s auction is a rare opportunity for collectors to own a piece of Australian history, with valuable coins and medals, including the legendary 1813 New South Wales holey dollar, up for sale. Whether you’re an avid collector or simply fascinated by the history of Australia’s currency, these items are sure to make history in their own right.
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