1823 Macintosh and Degraves Shilling

1823 Mac & Degraves Shilling dates side
1823 Macintosh and Degraves Shilling
1823 Macintosh and Degraves Shilling
good Extremely Fine
Private Collection Sydney
$ 45,000
That historians have traced a business transaction involving the 1823 Macintosh & Degraves Shilling back to 1848 is testimony to the rarity and importance of this iconic piece of Australiana. The transaction was a purchase for the esteemed London National Collection. The history associated with this piece is absolutely amazing and is a ‘must read’.
Sold November 2016
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This 1823 Macintosh and Degraves Shilling is one of the finest of perhaps fifteen known examples. Fondly referred to as the ‘Smiling Rat’, the design was reputedly based on a drawing that was sent back to London in the late 1780s, said to be the first depiction of an Australian kangaroo.

It is our first Australian token and the only piece to be struck in this denomination.

When Hugh McIntosh and Peter Degraves organised the striking of this token for the Cascade Saw Mills in 1823, they could hardly have foreseen that it would one day become a prized collector piece.

The token is remarkable for a number of reasons, all which adds to its value today.

  • For a start, there’s that creature. Anyone who has taken even a passing interest in our colonial history would have seen it elsewhere: it’s reputedly based on a drawing that was sent back to London in the late 1780s, said to be the first depiction of an Australian kangaroo.
  • Then there’s the ‘Tasmania’ legend on the token. Until 1853 the island colony was known officially as Van Diemen’s Land, although Tasmania was used in print as early as 1824.
  • Messrs McIntosh and Degraves did not arrive in the colony until April 1824 – the year after the token’s ostensible date. What’s more, the Cascade Saw Mills for which it was struck didn’t commence operations until four months later.
  • It’s generally acknowledged that the Macintosh and Degraves token was struck in London in 1824 prior to their departure from England, most likely at the Soho Mint of Matthew Boulton fame. Furthermore, it is believed that it was never issued, the majority melted down following a well-documented custom’s seizure involving the partners’ cargo.

That we don’t know the full story has tantalised numismatists and historians for decades. Does it really matter? Definitely not – after all, it simply adds to the magic of this superb Australian rarity.


PO Box 1060 Hawksburn Victoria Australia 3142

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