The Perth Mint Commemorates the 225th Anniversary of Australian Proclamation Coins with the Pillar Dollar 2025 1oz Silver Proof Coin

The Perth Mint celebrates the 225th anniversary of Australia’s Proclamation Coins with the release of the Pillar Dollar 2025 1oz Silver Proof Coin. These coins are linked to Governor King’s 1800 edict, which aimed to resolve a currency crisis in the colony of New South Wales. In response to ongoing shortages, Governor Macquarie imported 40,000 Spanish reales and modified them by creating "holey dollars" (outer rings) and "dumps" (centres). This innovative process marked the creation of the first currency minted in Australia.

The coin’s reverse design pays homage to the Spanish Pillar Dollar—also known as a peso or “piece of eight.” Beneath the inscription VTRAQUE ("both are one"), the coin features the Spanish Crown and two hemispheres symbolizing the Old World and the New World. These are flanked by representations of the Pillars of Hercules, each draped in spiraling banners bearing the words PLVS VLTRA ("more beyond"). It has been suggested that the S-shaped configuration of these banners inspired the modern dollar sign ($).

The design also includes a distinctive "Mo" mintmark, indicating the coin’s origin from Mexico City—a nod to the legacy of the Spanish Empire.