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1 Dollar - Elizabeth II 4th Portrait - Centenary of Federation - Holey Dollar
| Issuer | Perth Mint, Australia |
|---|---|
| Year | 2001 |
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| Currency | Dollar (1966-date) |
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|---|---|
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| Obverse lettering | ELIZABETH II ONE DOLLAR AUSTRALIA IRB |
| Reverse description | The reverse depicts a stylised Holey Dollar design, with the state and territory Coats of Arms of each Australian state and the Northern Territory arranged around the inner border of the central star-shaped perforation. The seven heraldic shields of New South Wales, South Australia, Tasmania, the Northern Territory, Victoria, Western Australia, and Queensland radiate outward from the star cutout, commemorating the Centenary of Australian Federation. The name of each jurisdiction is inscribed adjacent to its respective shield. The overall composition references the historic colonial-era Holey Dollar currency of New South Wales, adapting its distinctive pierced format as a tribute to the federation anniversary. |
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| Additional information |
The Holey Dollar is one of the more ingenious solutions in colonial monetary history. In 1813, facing a chronic coin shortage in New South Wales, Governor Lachlan Macquarie imported 40,000 Spanish colonial eight reales, had a disc punched from the center of each, and countermarked both pieces for separate circulation — effectively turning 40,000 coins into 80,000. The center plugs became "dumps," the rings became "holey dollars."
This 2001 Perth Mint issue commemorates both that episode and the centenary of Australian federation. The dump is struck separately and seated within the ring, replicating the original format in fine silver.