New South Wales. British Colony "Holey Dollar" of 5 Shillings 1813 Fine Details (Chopmarked) NGC, KM2.9. 20.93gm. Host: Mexico Charles IV 8 Reales 1798 Mo-FM (KM109); Counterstamp: Denticulated cutout, stamped "NEW SOUTH WALES 1813 (XF Standard). An iconic issue from the earlier years of the British colony and one now synonymous with the Australian state. A pleasing representative on the whole and in a state of preservation typical to the series, featuring a gentle champagne undercurrent and uniformly handled devices. The noted chopmark seems inconsequential when considering the importance of the piece, and only adds to the tale of these storied issues, confirming the host's circulation throughout southeast Asia prior to its utilization as a 5 Shillings. Among Australia's greatest numismatic treasures and one certain to engage any collector. The origin of the "Holey Dollar", as it is now commonly referred to, lies in the chronic coinage shortages faced by the relatively new colony of New South Wales, Australia. As much of the foreign coinage used by the colony had been drained through the effects of trade, the ruling authorities struggled to find a new solution to maintain the viability of any sort of functioning monetary system. Various means were attempted without success, but eventually the solution that was arrived at came in the form of the colony's acquisition of a sizeable quantity of Spanish "Dollars", or 8 Reales. With these they punched the centers out, countermarking both the plug and the remained holed pieces with their own respective denominations, 15 Pence for the plugs and 5 Shillings for the larger pieces. This solution not only provided the colony with its own money, alleviating previous shortages, but assured that this unique type would no longer be exported abroad as easily as before. HID09801242017 © 2023 Heritage Auctions | All Rights Reserved

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