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1813 Holey Dollar created from a Spanish Silver Dollar that was minted in 1800 at the Lima Mint


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1813 Holey Dollar created from a Spanish Silver Dollar that was minted in 1800 at the Lima Mint
COIN
1813 Holey Dollar created from a Spanish Silver Dollar that was minted in 1800 at the Lima Mint
PRICE
$295,000
STATUS
Available now
QUALITY
Original coin: A supreme quality Good Very Fine with superb design detail, the surfaces highly reflective enhanced by handsome light grey toning. Counter-stamps: Nearly Extremely Fine
PROVENANCE
Edward Wills Collection, Syd Hagley Collection, Nobles Auction November 2005 lot 1220
COMMENTS
This 1813 Holey Dollar was created from a Spanish Silver Dollar that had been minted in 1800 at the Lima Mint, Peru. The coin has a distinctive edge. Most Holey Dollars were created from silver dollars produced at the Mexico Mint. This coin, however, was created from a Spanish Silver Dollar that was struck at the LIMA MINT. And that makes it one of the rarest Holey Dollars. One hundred and ninety-three Holey Dollars are held by private collectors and of those twenty were created from Lima Mint Silver Dollars. And this coin is one of the twenty. In a career that has reached the half-century mark, this is only the FIFTH Holey Dollar we have offered that has ties to the Lima Mint in Peru. The ‘edge’ that this coin possesses extends well beyond a ‘rare mint’. The original silver dollar, a supreme quality Good Very Fine, resisted the force applied by William Henshall in cutting out the hole. The result is a Holey Dollar that has retained a circular, even shape and that displays the design details to the max giving it fabulous eye appeal. The coin also comes with a celebrated former owner. Syd Hagley was famous for his ownership of the Proof 1930 Penny and, history contends, created and drove the Australian rare coin industry. While the Syd Hagley Proof 1930 Penny may be an impossible dream for many collectors, the Hagley Holey Dollar is available now.
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A Holey Dollar defined by the rare Lima Mint.

Governor Lachlan Macquarie imported 40,000 Spanish Silver Dollars to create the nation's first currency. His order was not date specific. Any year would suffice. Quality was irrelevant. And he didn't care where they were minted, Mexico, Peru, Bolivia or Spain. The reigning monarch at the time was also immaterial, King Charles III, Charles IV, Ferdinand VI or Ferdinand VII.

And it is the interplay of these attributes - date, quality, monarch and mint - that define a Holey Dollar and leads us to say that while all Holey Dollars are rare, some are far rarer than others.

Of the one hundred and ninety privately owned Holey Dollars, about twenty (or ten per cent) were created from silver dollars minted at the Lima Mint in Peru.

By comparison, at least one hundred and fifty (eighty percent) of the privately owned Holey Dollars were created from silver dollars issued at the Mexico Mint.

In a career that has reached the half-century mark, this is only the FIFTH Holey Dollar we have offered that has ties to the Lima Mint in Peru.

A Holey Dollar defined by superb quality.

The fabulous eye appeal of this coin relates to two factors. It is a superior quality Holey Dollar, in the top 15 per cent. And it has an even circular shape.

First up the quality.

The Spanish Silver Dollar was the world’s greatest trading coin and most of the coins in Macquarie's shipment of 40,000 coins would have been well worn. A formal study of the surviving Holey Dollars, undertaken in 1988, confirms the fact.

More than fifty per cent of Holey Dollars are found well circulated, in a quality ranging from Fair through to Good Fine. At Good Very Fine, this coin is a high quality Holey Dollar, in the top fifteen per cent. The design details are crisp and clear, the fields relatively unmarked.

The extent of usage of the Holey Dollar after it was released into circulation is evidenced by the wear to the counter-stamps, the over-stamping around the inner circular edge … New South Wales, 1813 and Five Shillings.

The counter-stamps of this Holey Dollar are graded in the premium quality levels of Nearly Extremely Fine.

A Holey Dollar that fared very well through the production process.

Great force had to be exerted on the Spanish Silver Dollar to punch out the central hole. As a consequence, many Holey Dollars are found slightly dished and distorted. And while the dishing does not impact on the value of the Holey Dollar, it can impact on the coin visually.

This is simply a fabulous Holey Dollar, the even shape allowing the design details to be displayed to the max. You will be proud to show it off to family and friends. And they will be in awe!

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This 1813 Holey Dollar was created from a Spanish Silver Dollar that had been minted in 1800 at the Lima Mint in Peru. The original silver dollar has a grading level of Good Very Fine. The counter-stamps higher again at Nearly Extremely Fine.

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. REX . LMAE . 8R .
 The distinctive mint mark 'LMAE' of the Lima Mint is featured in the legend on the left hand side of this Holey Dollar.

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