1988 Australia Holey Dollar & Dump Commemorative 1oz .999 Fine Silver Proof Set (No Tax)

1988 Australia Holey Dollar & Dump Commemorative 1oz .999 Fine Silver Proof Set (No Tax)

Celebrate Australian history with the 1988 Holey Dollar & Dump Commemorative Silver BU Issue. Minted in .999 silver, this set includes a Holey Dollar containing 1 oz of fine silver and a Dump with 1/4 oz of silver, issued by The Australia Mint. The original Holey Dollar and Dump originated in the early settlement days when Governor Phillip solved a coin shortage by purchasing 40,000 Spanish eight reales coins. He punched out the centers to create the Holey Dollar, valued at five shillings, and the Dump, worth 15 pence. While the Dump circulated widely, the more valuable Holey Dollars were often melted down in England. Today, only 280 are known to exist, making this commemorative set a rare and significant piece of Australian heritage.