Unbelievable! This rare Australian coin could make you $120,000 richer!
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Are you a coin collector, or simply someone looking to make an easy $120,000? Get ready to cross your fingers–a rare Australian coin is set to be auctioned off in Sydney in late November.
The coin, known as a 'holey dollar', is one of only about 300 believed to be in existence, 100 of which are in museums.
Coin expert Jim Noble told Yahoo! that he sold the coin to a collector in 1981 for $22,000, or about $100,000 in today’s money–so this could be an excellent investment!
The holey dollar has a fascinating history that centres around a coin shortage in the new British colony of New South Wales (NSW). In 1812, Governor Lachlan Macquarie imported 40,000 Spanish reales and had William Henshall, a convicted forger, cut the centre out of each, to double the number of available coins.
The centre of the coin, known as the dump, was worth 15 pence while the outer ring, which became the holey dollar, was worth five shillings. Both coins circulated in 1814 but were replaced with sterling coinage in 1822.
'Holey dollars speak eloquently of the creative and improvisatory attempts to create an orderly administration in colonial Australia,' said former Australian National Museum Director Andrew Sayers.
In the early years of the NSW colony, overseas coins were common. British coins, Dutch guilders and ducats, Portuguese johannas and Indian mohurs and rupees circulated alongside each other. Due to trade with visiting merchant ships, many of these coins left the colony as a result. Australia had no official currency prior to the adoption of the Australian pound in 1910, which was replaced in 1966 by the decimalised Australian dollar.
In terms of legacy, these humble holey dollars have now become sought-after collector items. Their historical significance, scarcity, and distinctive design make them unique in the numismatic world. No wonder they command bids that would make even modern economists gasp.
Collecting coins is not unlike gambling—your next find could be worth only pennies or potentially make you a hundred thousand dollars richer. But just how is the value of collectible coins determined? It's all down to an incredible mixture of age, rarity, condition, and demand.
Starting with age, older coins are usually more valuable. Think of them as venerable relics: they’ve witnessed the rise and fall of empires, survived historical upheavals, and resisted the cruel hand of time. Yet don’t mistake age for the only hallmark of value. A trove of ancient coins may fetch less than a rarer, younger coin from more recent times.
So, if you're thinking of turning your piggy bank upside down and shaking it vigorously, just remember–all that glitters might not be gold. Or silver. Or particularly valuable at all. But when it is, it can be the beginning of a thrilling ride into the world of numismatics, where the thrilling clang of coin against coin could lead you to a small fortune.
If you love a bit of history, then this is definitely an auction you won’t want to miss. There’s no guarantee that this one-of-a-kind coin will make you $120,000 richer–but it’s worth having! What do you think of this story? Let us know in the comments below!
The coin, known as a 'holey dollar', is one of only about 300 believed to be in existence, 100 of which are in museums.
Coin expert Jim Noble told Yahoo! that he sold the coin to a collector in 1981 for $22,000, or about $100,000 in today’s money–so this could be an excellent investment!
The holey dollar has a fascinating history that centres around a coin shortage in the new British colony of New South Wales (NSW). In 1812, Governor Lachlan Macquarie imported 40,000 Spanish reales and had William Henshall, a convicted forger, cut the centre out of each, to double the number of available coins.
The centre of the coin, known as the dump, was worth 15 pence while the outer ring, which became the holey dollar, was worth five shillings. Both coins circulated in 1814 but were replaced with sterling coinage in 1822.
'Holey dollars speak eloquently of the creative and improvisatory attempts to create an orderly administration in colonial Australia,' said former Australian National Museum Director Andrew Sayers.
The museum has a holey dollar in its collection.. Image: National Museum
In the early years of the NSW colony, overseas coins were common. British coins, Dutch guilders and ducats, Portuguese johannas and Indian mohurs and rupees circulated alongside each other. Due to trade with visiting merchant ships, many of these coins left the colony as a result. Australia had no official currency prior to the adoption of the Australian pound in 1910, which was replaced in 1966 by the decimalised Australian dollar.
In terms of legacy, these humble holey dollars have now become sought-after collector items. Their historical significance, scarcity, and distinctive design make them unique in the numismatic world. No wonder they command bids that would make even modern economists gasp.
Known as ‘the dump’, the centre of the holey dollar coin was worth 15 pence. Image: Noble Numismatics
Collecting coins is not unlike gambling—your next find could be worth only pennies or potentially make you a hundred thousand dollars richer. But just how is the value of collectible coins determined? It's all down to an incredible mixture of age, rarity, condition, and demand.
Starting with age, older coins are usually more valuable. Think of them as venerable relics: they’ve witnessed the rise and fall of empires, survived historical upheavals, and resisted the cruel hand of time. Yet don’t mistake age for the only hallmark of value. A trove of ancient coins may fetch less than a rarer, younger coin from more recent times.
So, if you're thinking of turning your piggy bank upside down and shaking it vigorously, just remember–all that glitters might not be gold. Or silver. Or particularly valuable at all. But when it is, it can be the beginning of a thrilling ride into the world of numismatics, where the thrilling clang of coin against coin could lead you to a small fortune.
If you love a bit of history, then this is definitely an auction you won’t want to miss. There’s no guarantee that this one-of-a-kind coin will make you $120,000 richer–but it’s worth having! What do you think of this story? Let us know in the comments below!
