Spanish (holey) dollar

Currency

Coin made by punching out the middle of a Spanish silver dollar, which helped stabilise the early colonial economy.

Spanish (holey) dollar

by Garry Wotherspoon, 2010

 

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Devised in 1810 to prevent the colony's currency from disappearing offshore, the holey dollar was Sydney's first really local coinage, remaining legal tender until 1829.
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