1813 NSW Fifteen Pence Dump - gVF
We have for sale a very rare and historically significant 1813 NSW fifteen pence dump in good Very Fine condition.
The stories of the holey dollar and dump, the first coins struck in Australia are rich with intrigue and cultural significance. When Governor Lachlan Macquarie took control of the New South Wales Colony in 1813 he was faced with leading a colony in an almost permanent state of drunkenness and debauchery. Up to that point a lack of coinage had led the colony to use rum as the main bartering currency, the Governor himself had to pay for his house in barrels of rum, this trade in rum was controlled by a very powerful and corrupt New South Wales Corps. To be able to effectively govern, Governor Macquarie needed to find a way to reduce the colonies reliance on alcohol and in turn reduce the control of the Corps.
The Governor achieved his goal through the purchase of 40,000 Spanish dollars, an international trading currency. To prevent the movement of the Spanish dollars away from the colony and to maximise the monetary benefit to the colony he hatched a plan to have each coin cut into two and counter stamped with an overall value 25% greater than a sole Spanish dollar, in this way the holey dollar and dump was borne. The work was undertaken by ex-convict and excellent metal worker William Henshaw.
The 'holey dollar' was valued at 5 shillings and the 'dump' fifteen pence, they were in circulation from 1813 until 1822 when they were replaced with sterling coinage. In total 39,910 dumps were released into circulation and it is estimated that as few as 800 to 1000 have survived to this day. The dump was a highly circulated coin that was used frequently in day to day transactions resulting in a lot of wear to those coins. Based on work by coinworks approximately 93% of all dumps available fall into grades very fine or below and just 7% in gVF and above. The coin we have for sale is graded gVF, it is an excellent and difficult to obtain example of a prestigious coin, and would be a jewel in any collection.
If you are interested in purchasing this coin please contact us on 0438 528 229 or email@example.com to arrange payment and delivery.