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In the early years of the Colony of New South Wales, the term "currency" was used to refer to any money other than pound sterling, which was the only legal tender.Owing to a shortage of sterling, "currency" circulated freely, but was not always accepted – the term carried implications of illegality, inferior quality, and subordination. [3]
Most of the dollars used had been minted in Lima, Mexico City, and Potosí, which had become part of new Latin American republics, independent from Spain. On 17 December, £30,000 worth of sterling crowns, half-crowns, shillings and sixpences were shipped to New South Wales to be used as currency.
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
Examples of private issue paper currency in New South Wales, denominated in sterling, exist from 1814 (and may date back to the 1790s). [15] Denominated in sterling (and in some cases Spanish dollars), these private banker and merchant scrip notes were used in Sydney and Hobart through 1829. [16]
For many years after the first Australian colony, New South Wales (NSW), was founded in 1788, it did not have its own currency and had to rely on the coins of other countries. During the early days of the colony, commodities such as wheat were sometimes used as a currency because of the shortage of coins.
A New South Wales "holey dollar", the first distinct currency of Australia. Holey dollar is the name given to coins used in the early history of two British settlements: Prince Edward Island (now part of Canada) and New South Wales (now part of Australia).
CurrencyFair is an online currency exchange platform that until 2023 offered a peer-to-peer currency exchange service. CurrencyFair is headquartered in Ireland and also has employees in the UK, Australia, Greece, Hong Kong, Poland and Singapore. The company has established working sectors in Newcastle (UK), New South Wales (Australia ...
The act which regulated currency in New South Wales came into force on 18 July 1855 and stipulated that the gold coins were to be called sovereigns and half sovereigns. They were also to be the same weight, fineness and value as other sovereigns. [65] Sovereign, 1855, from original gold coin, Sydney Mint, State Library of New South Wales, SAFE ...