Dictionary of Sydney

The Dictionary of Sydney was archived in 2021.

Spanish (holey) dollar

Coin made by punching out the middle of a Spanish silver dollar, which helped stabilise the early colonial economy.

Type

Spanish (holey) dollar

CC BY-SA 2.0
,
2010

Devised in 1810 to prevent the colony's currency from disappearing offshore, the holey dollar was Sydney's first really local coinage, remaining legal tender until 1829.