Silver 8 reales counterstamped as 5 shillings

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New South Wales, Australia, AD 1813, marks a significant milestone in the region's history. Originally minted in Lima, Peru, as early as 1806, this coin has an intriguing past. Recycled from an early settlement, its journey is a testament to the resourcefulness of pioneers. Port Jackson in New South Wales was founded in 1788, making it the first British settlement on the Australian continent. The colony's early days were marked by limited access to currency, with coins arriving sporadically as trade ships brought goods into the area. However, the British government soon realized that sending supplies of Spanish coins was essential. In some British colonies in the West Indies, a unique system emerged where coins were identified as official currency by having a hole cut into their center. A legend around the edge of this hole displayed the coin's value and the region it circulated within. This particular example carried a value of five shillings (sixty pence), while the disc removed from the center, or "dump," was worth fifteen pence. P. Spalding's book, The world of the Holey dollar, published in Santa Barbara, California in 1973, provides valuable insights into this fascinating topic.