Australian coins refers to the

coins A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to ...

which are or were in use as Australian currency. During the early days of the colonies that formed Australia, foreign as well as British currency was used, but in 1910, a decade after federation, Australian coins were introduced. Australia used pounds, shillings and pence until 1966, when it adopted the decimal system with the Australian dollar divided into 100 cents. With the exception of the first Proclamation Coinage and the

holey dollar Holey dollar is the name given to coins used in the early history of two British settlements: Prince Edward Island (now part of Canada) and New South Wales (now part of Australia). The middle was punched out of Spanish dollars, creating two pa ...

s, all Australian coins remain legal tender despite being withdrawn from circulation.

First coins

For many years after the first Australian colony,

New South Wales ) , nickname = , image_map = New South Wales in Australia.svg , map_caption = Location of New South Wales in AustraliaCoordinates: , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , e ...

(NSW), was founded in 1788, it did not have its own currency and had to rely on the coins of other countries. During the early days of the colony, commodities such as wheat were sometimes used as a currency because of the shortage of coins. Also many transactions were carried out using promissory notes or a barter system, which included trafficking in alcohol, known as 'rum currency', a system disbanded when Macquarie became governor on 1 January 1810. Spanish dollars were sometimes cut into "pieces of eight", quarters, and then into 2/3 and 1/3 segments, with the 2/3 segments (1/6 of original coin) being "shillings" and the 1/3 segments (1/12 of original coin) "sixpences" In 1791 Governor Phillip of New South Wales fixed the value of the Spanish dollar to equal five shillings. Under the decree of 19 November 1800 by the governor

Philip Gidley King Captain Philip Gidley King (23 April 1758 – 3 September 1808) was a British politician who was the third Governor of New South Wales. When the First Fleet arrived in January 1788, King was detailed to colonise Norfolk Island for defence a ...

, the following eleven coins were legal tender for the exchange value of: *Gold Johanna (Portugal coin of 12800

Reis Reis may refer to : *Reis (surname), a Portuguese and German surname *Reis (military rank), an Ottoman military rank and obscure Lebanese/Syrian noble title Currency *Portuguese Indian rupia (subdivided into ''réis''), the currency of Portugues ...

) = £4/0/- (four pounds) *Gold Half Johanna (Portugal coin of 6400 Reis) = £2/0/- (two pounds *

Guinea Guinea ( ),, fuf, 𞤘𞤭𞤲𞤫, italic=no, Gine, wo, Gine, nqo, ߖߌ߬ߣߍ߫, bm, Gine officially the Republic of Guinea (french: République de Guinée), is a coastal country in West Africa. It borders the Atlantic Ocean to the w ...

= £1/2/- (One pound and two shillings) *Gold

Mohur The Mohur is a gold coin that was formerly minted by several governments, including British India and some of the princely states which existed alongside it, the Mughal Empire, Kingdom of Nepal, and Persia (chiefly Afghanistan). It was usually ...

= £1/17/6 (one pound, 17 shillings and sixpence). *

Spanish dollar The Spanish dollar, also known as the piece of eight ( es, Real de a ocho, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content ...

= 5 shillings. *

Ducat The ducat () coin was used as a trade coin in Europe from the later Middle Ages from the 13th to 19th centuries. Its most familiar version, the gold ducat or sequin containing around of 98.6% fine gold, originated in Venice in 1284 and gained wi ...

= 9/6 (9 shillings 6 pence). *

Rupee Rupee is the common name for the currencies of India, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka, and of former currencies of Afghanistan, Bahrain, Kuwait, Oman, the United Arab Emirates (as the Gulf rupee), British East Africa, ...

= 2/6 (2 shillings and 6 pence). * Pagoda = 8/- (8 shillings). . *

Dutch Guilder The guilder ( nl, gulden, ) or florin was the currency of the Netherlands from the 15th century until 2002, when it was replaced by the euro. The Dutch name ''gulden'' was a Middle Dutch adjective meaning "golden", and reflects the fact that, wh ...

= 2/- (2 shillings). * English shilling = 1/1 (1 shilling and 1 penny). *Copper coin of 1 oz = 2 pence. The settlers did have some

George III George III (George William Frederick; 4 June 173829 January 1820) was King of Great Britain and of Ireland from 25 October 1760 until the union of the two kingdoms on 1 January 1801, after which he was King of the United Kingdom of Great Bri ...

one-penny coins, which were referred to as "Cartwheel pennies". These were the first British coins to be officially exported to the Australian colonies, and so can be considered Australia's first official coins. They were dated 1797 and 1799, with

Britannia Britannia () is the national personification of Britain as a helmeted female warrior holding a trident and shield. An image first used in classical antiquity, the Latin ''Britannia'' was the name variously applied to the British Isles, Great ...

on one side and King George III on the other. In 1812, Governor

Lachlan Macquarie Major General Lachlan Macquarie, CB (; gd, Lachann MacGuaire; 31 January 1762 – 1 July 1824) was a British Army officer and colonial administrator from Scotland. Macquarie served as the fifth Governor of New South Wales from 1810 to 1821, an ...

bought Spanish dollar coins, following the arrival of the ship ''Samarang'' at Port Jackson with 40,000 Spanish dollars, paying four shillings and nine pence for each dollar. He was worried that the coins would quickly be exported out of the colony and had holes cut in the middle of them to try to keep them in Australia. These were known as

Holey dollar Holey dollar is the name given to coins used in the early history of two British settlements: Prince Edward Island (now part of Canada) and New South Wales (now part of Australia). The middle was punched out of Spanish dollars, creating two pa ...

s (valued at five shillings), with the piece from the middle being called the Dump (valued at around 15 pence). Both were declared legal currency on 30 September 1813 and went into circulation in 1814. British currency became the official currency of the Australian colonies after 1825, with almost £100,000-worth of British coins being imported during 1824–25. The Holey dollar was no longer legal tender after 1829. The most notable Holey Dollar was the " Hannibal Head" a one of a kind coin that features the portrait of King

Joseph I Joseph I or Josef I may refer to: * Joseph I of Constantinople, Ecumenical Patriarch in 1266–1275 and 1282–1283 *Joseph I, Holy Roman Emperor (1678–1711) * Joseph I (Chaldean Patriarch) (reigned 1681–1696) *Joseph I of Portugal (1750–1777 ...

of Spain. The Hannibal Head sold at auction in 2018 to a private collector for $500,000.

Gold coins and Sovereigns

Unofficial gold coins were used during the gold rush of the 1850s. Traders'

token Token may refer to: Arts, entertainment, and media * Token, a game piece or counter, used in some games * The Tokens, a vocal music group * Tolkien Black, a recurring character on the animated television series ''South Park,'' formerly known as ...

s were also used because of the shortage of coins caused by the large increase in population. Requests to make gold coins in Adelaide in 1852 to compensate for the shortage of coins were rejected by Britain after 25,000 One Pound pieces were struck. Australia's first official mint was in Sydney, founded in 1855. It produced gold coins with an original design between 1855 and 1870, with "Sydney Mint, Australia, One Sovereign" on one side and Queen Victoria on the other, or "Sydney Mint, Australia, Half Sovereign", before starting in 1870 to mint gold coins of British design. One gold sovereign equalled £1.

The pound

Federation in 1901 gave the Commonwealth a constitutional power to issue coins and removed this power from the States. British coins continued in use until 1910, when Australian silver coins were introduced. These included florins, shillings, sixpences and threepences. They had a portrait of King Edward VII on one side. Australian pennies and half-pennies were introduced into circulation the following year. In 1931 gold sovereigns stopped being minted in Australia. A

crown A crown is a traditional form of head adornment, or hat, worn by monarchs as a symbol of their power and dignity. A crown is often, by extension, a symbol of the monarch's government or items endorsed by it. The word itself is used, partic ...

or five-shilling coin was minted in 1937 and 1938.

The dollar

The

Australian dollar The Australian dollar (sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Island ...

replaced the

Australian pound The pound (Sign: £, £A for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. As with other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol ...

on 14 February 1966 as part of the

decimalisation Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10. Most countries have decimalised their currencies, converting them from non-decimal ...

process. At this time, 1, 2, 5, 10, 20, and 50 cent coins were issued. $1 coins were first issued in 1984, and $2 coins soon followed in 1988. The one- and two-cent coins were discontinued in 1990 and withdrawn from circulation in February 1992.

References

External links