HOLEY DOLLARS - The STATISTICS

1. Mintage

The production facility is believed to have been located in the Factory located between George Street and the Tank Stream, on the southern side of Bridge Street. This was the only place in the colony at the time with the technology, equipment and craftsmen necessary to heat, cut and counterstamp the coins. The picture at right shows a view of Sydney looking east along Bridge Street. The long building in the right centre is the Factory with the Tank Stream flowing along its eastern boundary. The 4-story building on the left is Simeon Lord's house with Government House at the top of Bridge Street. (From View of a Part of the River of Sydney 1813).

The new colonial coins were placed into circulation and served the flourishing colony for nearly 15 years, their final recall being in 1829. The demise to the estimated 350 still in existence today is a long and complex story. Some were withdrawn after having been found to be clipped. Others were illegally melted down for jewellery or for their silver content (particularly after Governor Brisbane's revaluation). Many were simply lost - the occassional recent 'find' attests to this.

In 1822 the coins were recalled by the Commissary to make way for an influx of uncut Spanish Dollars, as part of an ultimately unsuccessful attempt to make the dollar the colony's standard currency. A total of 34,058 holey dollars were accounted for. The coins were re-issued in 1823 after Governor Sir Thomas Brisbane revalued the holey dollar and dump at 40 cents and 10 cents respectively.

In 1829, a final recall took place. Documentation shows that 27,161 'Ring Dollars' and 10,103 Dumps were deposited in the Military Chest on 24th September, 1829. A few hundred more were recovered in the ensuing year and a half before they were all returned to the London Mint (historians estimate the numbers at approximately 28,500 Holey Dollars and 10,500 Dumps). The coins were melted down and the silver was sold to the Bank of England with nett proceeds of £5,044.9.2.

2. Counterstamp Dies

The obverse counterstamp has the words NEW SOUTH WALES above and 1813 below with denticles around the inner rim. The reverse has the words FIVE SHILLINGS above and a double twig of leaves below, again with denticles around the inner rim. A tiny H was placed above the junction of the two twigs.

As the dies wore out or fractured, Henshall replaced them. This resulted in a number of die varieties as follows:

 

	Obverse Counterstamp Die I (Found on 182 Surviving Coins) U of SOUTH is upright, rounded base just touches denticles. Top of T in SOUTH is level with top of H. 2 denticles between NEW and SOUTH.
	Obverse Counterstamp Die II (Found on 79 Surviving Coins) U of SOUTH is tilted left, rounded base extends into denticles. Top of T in SOUTH is slightly lower than top of H. 4 denticles between NEW and SOUTH.
	Obverse Counterstamp Die III (Found on 5 Surviving Coins) U of SOUTH is upright, flat base just touches denticles. Top of T in SOUTH is clearly (0.5mm) lower than top of H. 2 denticles between NEW and SOUTH.
	Reverse Counterstamp Die A (Found on 98 Surviving Coins) Fleur de lis (+) between FIVE and SHILLINGS Each twig has 6 leaves. 20 denticles between FIVE and SHILLINGS.
	Reverse Counterstamp Die B (Found on 152 Surviving Coins) No fleur de lis (+) between FIVE and SHILLINGS Each twig has 6 leaves. 10 denticles between FIVE and SHILLINGS.
	Reverse Counterstamp Die C (Found on 3 Surviving Coins) First I missing in SHILLINGS No fleur de lis (+) between FIVE and SHLLINGS Left twig has 4 leaves while right has 5. 4 denticles between FIVE and SHILLINGS.
	Reverse Counterstamp Die D (Found on 2 Surviving Coins) No fleur de lis (+) between FIVE and SHILLINGS Left twig has 4 leaves while right has 6. 7 denticles between FIVE and SHILLINGS.

 

The frequency of obverse and reverse die combinations is shown at right: The rare obverse type III has been found only in combination with reverse types C and D. The combination II / A is thought to be non-existent as it is not found in any of the 276 known, surviving examples. An analysis of the surviving examples by Mint and bust of the Spanish King on the host coin (matrix) is shown below (one of the examples is unattributable):

Type Known Est. Mintage I / A 100 15,900 I / B 68 10,750 II / B 79 12,500 III / C 3 460 III / D 2 300 Unattributable 24

Ruler	Mexico	Lima	Potosi	Guatemala	Madrid	Seville	Total
Ferdinand VI	1						1
Charles III	25	5	2				32
Charles IV	12						12
Charles IIII	155	23	24	1	4	2	209
Ferdinand VII	19	2					21
Total	212	30	26	1	4	2	275

Source:
'The Holey Dollars of New South Wales' W J D Mira and W J Noble, 1988.
Note: Dr Mira has advised that number of known surviving Holey Dollars is now 296 (August, 1999).