A Coin With a Hole in It: The 2026 Holey Dollar

Australia's first coins were made by punching holes in someone else's. In the early 1800s, New South Wales was desperately short of currency. Governor Lachlan Macquarie took Spanish silver dollars and had the centres punched out. Two coins from one: the Holey Dollar and the Dump.

The Royal Australian Mint has recreated that story with the Holey Dollar 2026 $1 Uncirculated Coin. It is in stock at Mint Coin Shop for $35.00, the RRP.

Yes, the coin has a hole in the middle. The reverse recreates the 1823 Holey Dollar held in the National Coin Collection, alongside an 1813 Dump. There is golden wattle for Australia and a dahlia for Mexico.

Why Mexico? Those Spanish dollars were struck in colonial Mexican mints before crossing the Pacific to the colony. In 2026, Australia and Mexico mark 60 years of diplomatic relations. The Mint has tied the two together. I did not know about the Mexican connection before this release. I suspect most collectors did not either. That is part of the appeal.

The details

• Copper-nickel, $1 denomination
• 12.58g, 30.0mm diameter with a 6.0mm central hole
• Reverse design by E. Watford, King Charles III effigy by D. Thorne
• Maximum mintage of 35,000
• Presented on a presentation card

At $35.00, this is an accessible coin. The Holey Dollar is a story every Australian collector knows, and originals sell for hundreds of thousands of dollars at auction. This gets you the shape and the story without the auction house price. I think it makes a terrific gift for anyone curious about how money worked in early Australia.

One per customer. We enforce this limit so genuine collectors get a fair go ahead of bots and bulk buyers.

Order online at mintcoinshop.com.au. We ship Australia-wide, with free shipping on orders over $225.