"A Remarkable Journey: A Coin Crafted by a Convict Endures Two World Wars, Communism's Fall, Theft, and Returns Home"

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A ‘Holey Dollar’, created in 1813 and which dates back to Australia’s early European settlement, was recently returned to Poland.

The coin, now valued at around $525,000, was allegedly stolen from a museum in Poland before finding its way into a private collection in Melbourne.

Major General Lachlan Macquarie was Governor of NSW from 1810-1821. Credit: Universal History Archive/Universal Images Group via Getty

Jim Noble is the Managing Director of Noble Numismatic Pty Ltd, an Australian company specialising in the trade of coins, medals, stamps, banknotes, and related items.

Noble, co-author of the book The Holey Dollars of New South Wales, is recognised as an expert in historical coins.

“In 1813, Governor (Lachlan) Macquarie recognised the problem of foreign coins circulating in the colony of New South Wales, which were being taken out of the colony by ships delivering supplies, leading to a significant shortage of money. He wanted to retain the money within the colony,” Noble explained.

An example of a ‘Holey Dollar’ fashioned to make it only for use in the early NSW colony in Australia. Credit: administrator/PR IMAGE

“A precedent had already been set in the West Indies, where coins had been counter-marked and revalued higher than their metal value.

“This is exactly what the governor did. He ordered 40,000 Spanish silver dollars, mostly minted in Mexico, but also in Bolivia and Peru.

“A convict, who was an expert engraver, was tasked with creating a press to stamp out the centre of these coins. The remaining ring was stamped with ‘New South Wales 1813’ on one side and ‘5 shillings’ on the other — the value of a dollar. The centrepiece, which was removed, was stamped ‘New South Wales’ on one side, and ’15 pence’ on the other, effectively creating two coins for the price of one.”

Noble said of the estimated 10,000 original Holey Dollar coins, only about 300 remained including the 1813 one recently returned to Poland.

The Holey Dollar coin returned to Poland. Credit: Anna Kawalkowska, Polish Embassy, Canberra

The coin’s journey

In 1914, the coin was purchased at an auction in Amsterdam by Walery Amrogowicz, a passionate numismatist (someone who studies coins) and art collector.

Amrogowicz’s interests extended beyond coins; he also collected art works by masters such as Rembrandt, Albrecht Dürer, Jacques Callot, and Jeremias Falck, as well as ancient artefacts, including Assyrian tablets, a Pompeian amphora, and Roman lamps.

A devoted patriot and philanthropist, he bequeathed his collection to the Scientific Society in Toruń before his death in 1931.

Deputy Minister of Culture and National Heritage, Marta Cienkowska said the coin subsequently found its way to the District Museum, where it survived two world wars and the fall of communism.

“Some time between 2008 and 2017, the Holey Dollar is believed to have been stolen by a museum employee,” she said.

Polish authorities tracked it globally after it was reported missing. They identified that it had been taken to Germany, where it was offered for sale at two separate auctions.

How the coin ended up in Australia

According to an Australian Federal Police (AFP) statement, they .

“From (Germany), the coin went to Melbourne, Australia, where it was auctioned (off) to an Australian collector in Perth for $525,000,” the statement said.

On 26 August 2024, the AFP, in cooperation with the Australian Department of Infrastructure, Transport, Regional Development, Communications and the Arts, seized the coin in Perth after the owner was identified through its most recent seller, an Australian company specialising in rare coins.

“The coin was subsequently willingly surrendered to the AFP,” the statement said.

It is not expected that any Australian-based individuals will face criminal charges, as all local transactions were made in good faith. All parties were unaware at the time that the coin had been stolen.

Australian Federal Police statement

Handed back to Poland

The recovered coin was officially handed over on 14 February 2025 at the Embassy of the Republic of Poland in Canberra.

The ceremony was presided over by federal Minister for the Arts, Tony Burke, and Cienkowska.

“We came across information about this coin in 2022 when a staff member at the Polish Ministry of Culture and National Heritage attended an academic conference in Warsaw,” Cienkowska said.

“From there, step by step, a detective-like investigation led to a contact in the Australian Ministry for the Arts. One email led to another, and in collaboration with Australian police and prosecutors, we verified the coin’s authenticity, entire documentation, and history.

“Thanks to two years of work, this coin is finally returning to Poland, where it rightfully belongs.”

Minister Tony Burke and Deputy Minister Marta Cienkowska.png

Federal Minister for the Arts, Tony Burke, and Poland’s Deputy Minister of Culture and National Heritage, Marta Cienkowska.

Speaking on behalf of the Australian government, Burke reflected on the 53 years of diplomatic relations between Poland and Australia.

“The first Polish migrants arrived in Australia in 1803, and generations of people of Polish heritage have made significant contributions to our country,” he said.

“The tallest peak in Australia, Mount Kosciuszko, bears a Polish name. We honour our service personnel who fought side-by-side during World War Two, most famously in 1941 during the Siege of Tobruk, and the Australian and Polish air crews who provided support during the Warsaw Uprising.”