Convict Counterfeiter Mints Australia's First Coins
The Royal Australian Mint has revealed that its first official coins were manufactured by a convict counterfeiter in 1812. William Henshall, who was serving a sentence for forging Bank of England dollars, was tasked with producing Australia's first legal tender due to a severe shortage of currency in the young colony.
According to Royal Australian Mint CEO Emily Martin, Governor Macquarie had a 'creative solution' to the problem. He imported 40,000 silver coins from Mexico and entrusted Henshall with hole-punching them to create two denominations: the Holey Dollar (worth five shillings) and the Dump (worth fifteen pence).
The original Holey Dollars are highly valuable today, with one selling at auction for $160,000 in 2020. The Mint now owns three of these coins and is releasing a limited edition 'Origins of Australian Coins' uncirculated coin, featuring a hole in the centre.