In 1800 New South Wales Governor Philip King made a proclamation in which he listed ten coins as legal tender in the colony.
The Royal Australian Mint commemorated the bicentenary of this key event by releasing this cartwheel penny. The
The piece was released as part of the subscription dollar series which ran yearly between 1996 and 2011 with the exception of 2001. The subscription series was distinct from others as each issue was made to order. This meant that the total mintage was limited to the number of orders that had been made in advance of mintage. The series commemorated Australian numismatic history with a number of significant designs being re-struck as well as coins celebrating milestones such as a century of Australian coinage.
The "Cartwheel" coins were struck at the private Soho Mint of Michael Boulton in Birmingham. The coins were made with a high copper content that was intended to be so close to the denomination of the piece counterfeiting would be unprofitable. On the reverse imagery of the coins Britannia was depicted seated on a rock beside the sea, holding an olive branch and her trident. This was one of the first times the famous allegory of Britannia ruling over the waves had been shown on coinage.
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