One of the Australia’s first coins known as Holey Dollar was sold for record AUS$495,000 or US$508,000 in Sydney, Agence France-Presse reports citing auction’s organizers.
Earlier, the coin has achieved the record price in 2011 when it was bought for AUS$485,000. Belinda Downie, managing director of Melbourne dealer Coinworks, says the sold coin was the absolute finest example of the Holey Dollar.
Belinda assured that only 300 specimens have survived out of the whole issue, 200 of which are held by private collectors.
The Holey Dollar got its name due to the hole in the centre of the coin. It was created in 1813 from Spanish silver coins, minted in 1808 in Peru. In 1812 governor Lachlan Macquarie bought 40,000 of Holey Dollars to curb currency shortage in New South Wales (East of Australia).
A hole was cut in the centre of the coin to leave them in the colony and prevent payment of imports by them. In 1829 Holey Dollars were imported to London and melted into silver bullions.
