1 Penny - Davies Alexander and Co Goulburn, New South Wales

Davies Alexander & Co operated as a general merchant and ironmongery business in Goulburn during the 1860s, a period when chronic shortages of small-denomination official coinage in the Australian colonies pushed dozens of regional traders to commission private token issues. The Royal Mint had no Australian branch until 1855, and even after Sydney began striking sovereigns, low-denomination copper remained perpetually scarce in country towns. Private tokens filled the gap entirely by local commercial necessity.

Andrews records three distinct varieties for this type — nos. 95 through 97 — distinguished by die differences rather than compositional changes, making attribution dependent on close examination of specific details rather than weight or size alone.