![]() A year later, Australia abandons the British-style currency system of pounds, shillings, and pence to introduce decimal notes and coins, with the major unit being called “dollar.” In 1986, the Commonwealth Government tasked the Perth Mint to design, make, and market Australia’s official precious metal bullion coin program. The Royal Australian Mint – the first mint in the commonwealth that is not a branch of the Royal Mint in London – was established in Canberra in 1965 to usher in the production of decimal coinage. Australia’s first penny and halfpenny followed the next year. ![]() The Commonwealth of Australia was proclaimed in 1901 and the first distinctive Australian coins – the florin, sixpence, and threepence – were issued in 1909. Shortly thereafter, the first Royal Mint outside of England opened in Sidney, striking sovereign coins with the inscription “AUSTRALIA.” The colony’s vast gold reserves led to the opening of a second mint in Melbourne in 1872 and a third one in Perth in 1899. Gold findings in the mid-nineteenth century allowed Australia to produce its first gold coins – albeit without the Crown’s approval. The “Holey Dollar” and the “Dump” were introduced in 1813 as the colony continued to expand. All coins circulating in the colony at the time were valued well above their face value in order to retain as many coins as possible in Australia. The first official coin of Australia was the “Cartwheel Penny,” which was a copper coin struck at the Soho Mint in Birmingham and exported to New South Wales beginning in 1797. However, only very little money circulated in the newly acquired territory, including some English coins as well as some guilders, ducats, rupees, johannas, mohurs, and Spanish dollars. Coinage was introduced into Australia after Great Britain established a penal colony on New South Wales in 1788.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |