Goldberg Coins and Collectibles

Sale 46

The Millennia Collection

Lot Photo Description Realized
Lot 878
Australia. New South Wales. 5 Shillings "Holey Dollar," 1813. KM-2.13; Dav-401. Counterstamp with reeded border, over holed center: Obverse - NEW SOUTH WALES, 1813; Reverse - FIVE + SHILLINGS, wreath at bottom. Host coin: Peru. 8 Reales, 1805-LIMAE-J-P. (Lima). Eliz-69; KM-117.1. Charles IV, 1788-1808. Cuirassed, laureate, bust of Charles IV right. Reverse: Crowned arms between pillars. Hole and counterstamp a little off center, but full, clean strike. Host reales now scyphate. Pleasing old collection toning. Extremely Rare and important! NGC graded EF-45.

When the colony of New South Wales was founded in Australia in 1788, it ran into the problem of a lack of coinage. Governor Lachlan Macquarie took the initiative of using £10,000 in Spanish dollars sent by the British government to produce suitable coins. The centers were punched out and these coins were accepted as the coin of the realm. The Spanish American 8 Reales arrived in 1812 and were then cut to produce the "Holey" Dollars. These emergency coins were used until 1822 and were then replaced by sufficient British sterling coinage.
Estimated Value $70,000 - 80,000.
Ex: J.S. Jenks Coll.; H. Chapman Sale, Philadelphia (12-7-21), lot 5293; Marlier Coll.; W. Woodside (USA, in 1937/8); Foley Coll. (USA); Illustrated in Money of The World, coin 135.

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Lot 879
Australia - South Australia. Pound, 1852 (Adelaide). Fr-3; FKM-2. Type 2. Victoria, 1837-1901. Royal crown, date below, dentillated and beaded bordes around. Reverse: Value in three lines, date below, dentillated and beaded bordes around; outer legend with weight in grains and pennyweight, "22 CARATS" below. Extremely Rare, more so in this grade. NGC graded MS-64.

The discovery of gold in Australia was a period of incredible social and economic upheaval. Ironically the discovery of gold almost sent the colony into poverty as industry and commerce fell to its knees as laborers, clerks and anyone else with a shovel, pan and glint in their eye rushed to the diggings.
It was a time of frantic pace where many decisions - including that of making coins - had to be made there on the spot, with little regard to the usual red tape. And so we have an interesting situation where the first indigenous gold coins were, strictly speaking, illegal issues. The cutting of red tape to get them circulated as soon as possible meant circumventing Royal approval. Then, as now, the issuing of coinage without official approval is illegal.
The first gold "coinage" looked anything like coins in the true sense. In fact they were simply strips of stamped gold which came to be known as Adelaide Ingots. They came into being as a result of gold being found at Mount Alexander in the Castlemaine district of Victoria.
When word of the strike reached Adelaide, some 500 km to the west, the rush was on. In the following three months nearly half of South Australia's male population were trying their luck. A labor starved Adelaide was on the brink of bankruptcy when about 50,000 pounds worth of gold arrived, for assaying back in the capital, from the diggings.
The Adelaide Pound was the very first Gold Coin struck on Australian soil, directly from the nuggets & dust unearthed by the diggers in Ballarat & Bendigo. All examples are quite rare, with just 20 of Type I in existence, and perhaps 200 Type II's. Much sought after by collectors and investors.
Estimated Value $40,000 - 50,000.
Illustrated in Money of The World, coin 136.

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