1813 Dump, struck with the Type A/1 dies, the Fifteen Pence-side showing extensive design elements of the original Spanish Dollar from which it was created
Macquarie had high hopes for the Holey Dollar and Dump, and in particular the Dump. He stated that the Dump would fill the role of small change and would remove much of the need for promissory notes of low denominations. This coin certainly lived up to Macquarie’s expectations for it is well used. At the same time it is a very pleasant and collectable example of the nation’s first coin. A well centred strike, the crown prominent, extensive under-type on the reverse. And well-priced.
The Holey Dollar, and the Dump, are the nation’s first coins, minted in 1813 by order of Governor Lachlan Macquarie.
The issuing of Australia’s first coinage symbolised the changing dynamics of the penal colony of New South Wales. The colony had started out in 1788 as a jail, a repository for convicts, under the governorship of Captain Arthur Phillip. It had emerged some twenty-five years later as a thriving economy requiring a formal medium of exchange to support a burgeoning commercial hub.
As Macquarie had no access to metal blanks to create his currency, he improvised and acquired 40,000 Spanish Silver Dollars as a substitute.
To make his new coinage unique to the colony, and to inhibit their export, he employed emancipated convict William Henshall to cut a hole in each silver dollar.
Each holed silver dollar was then counterstamped on both sides, around the edge of the hole. On one side, the date 1813 and the issuing authority of New South Wales. And on the other side, the value 'Five Shillings' with some decorative embellishments. It became the Holey Dollar.
The silver disc that fell out of the hole was also overstamped with a crown, the issuing authority of New South Wales. And on the other side the value of Fifteen Pence. It became the Dump.
1813 Dump Type A/1
1813 Dump Type A/1
1. A coin to enjoy and show around
Struck with the A/1 dies, the crown is classically well-centred. The design details, the crown with its fleur-de-lis and pearls, the legend New South Wales, the date 1813 and on the reverse, the value Fifteen Pence are all legible.
2. Evidence of the original Spanish Dollar design
The design detail of the original Spanish Dollar from which this Dump was created is evident on the fifteen pence side of the Dump. We refer to it as the under-type and it is not always present. Its existence re-affirms the origins of the Dump and is highly prized.
3. Henshall's claim to fame - the elusive 'H' on the reverse
William Henshall declared his involvement in the creation of the Dump by inserting an 'H' into some (but not all) of the dies used during its striking. And on a well circulated Dump, the 'H' will not generally be prominent. But, using an eye-glass on this coin, you can see where the 'H' was located between the 'FIFTEEN' and the 'PENCE' on the reverse.
4. Oblique milling
There is evidence of the oblique milling. It was used as deterrent against clipping whereby the unscrupulous shaved off slivers of silver, reducing the silver content of the Dump. And making a small profit on the side.
© Copyright: Coinworks