What was the first coin minted in Australia?

The holey dollar of 1813 represents an early instance of the first coins minted within the Australian territory. This particular coin holds historical significance as a marker of the nascent monetary system in the region.

To address this issue, the colonial government resorted to innovative measures. One such measure was the minting of the holey dollar, which featured a hole punched through its center.

The hole in the holey dollar served a dual purpose. It made the coin less desirable for export due to its altered form, and it also facilitated the use of the coin in various practical ways, such as being attached to strings for safekeeping.

During the initial years of New South Wales' establishment, coins were in limited supply. This scarcity led to a unique situation where both British and foreign currencies circulated interchangeably within the colony.

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