Currency Wiki
Holey Dollar, British Museum

The holey dollar of New South Wales

The term holey dollar is normally used by numismatists when referring to the 5 shilling coins of New South Wales, which were created in 1813 from punching holes out of Spanish dollars and stamping the surface around the hole with the title "NEW SOUTH WALES", the coin's new value, and the year. The term has also been used for coins of the same denomination from Prince Edward Island that were produced using a similar method around the same year. Due to the holes in their centers, commemorative 1 dollar coins of the Principality of Hutt River from 1977 and 1978 are also known as holey dollars.