Australia New South Wales Sydney
Holey Dollar, 1813 Five Shillings
Struck from an 8 Real piece from the mint at Seville of 1798 with the counterstamp dies combination I/B
Previous Collections: George McArthur
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.
A ring shaped silver coin (40 mm diameter) manufactured by cutting a circular 'dump' from the centre of a Seville mint 8 real piece of 1798 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 . IIII . DEI . G . 1798. ; the host coin featured a laureate bust of Charles IIII (mostly removed with the central 'dump') facing right. Around the rim of the reverse of the original coin HISPANIARUM . REX . ; and featuring a crowned shield with the denominations R 8 and the initials  N on either side. Most of the shield and part of the letters originally on the right side have been removed by the holing for the 'dump' and the counterstamping.
Overstruck around a circular hole cut from a Seville Mint 8 Real coin, NEW SOUTH WALES 1813, around the rim of the original coin CAROLUS . IIII . DEI . G . 1798. This was the obverse of the host coin and featured a laureate bust of Charles IIII (mostly removed with the central dump) facing right.
Overstruck around a circular hole cut from a Seville Mint 8 Real coin, FIVE SHILLINGS; at the bottom of the overstrike is a spray of olive leaves with the artist's initial H at its centre. Around the rim of the original coin HISPANIARUM . REX . This was the reverse of the original coin and featured a crowned shield with the denominations R 8 and the initials  N on either side. Most of the shield and part of the letters originally on the right side have been removed by the holing for the 'dump' and the counterstamping.
Transfer from National Gallery of Victoria (NGV), George McArthur, 15 Mar 1976
Obverse: CAROLUS . IIII . DEI . G . 1798. Reverse: HISPANIARUM . REX . R 8 N
Type of item
39 mm (Outside Diameter), 20.551 g (Weight)
Mira Noble No. 1798/10 Dies I/B Spalding 65
[Thesis] Lugton, Mary E. 1989. George McArthur of Maldon: his Life and his Book Collection.
[Catalogue] Morrison, Ian. 2003. The Baker of Maldon.
[Book] Mira, William J. & Noble, W J. 1988. The Holey Dollars of New South Wales.