History of Silver in Australia

Governor Macquarie imported 40,000 Spanish silver dollars. Their centres were punched out to make two coins: the holey dollar (five shillings) and the dump (15 pence).

Charles Rasp found the main lode at Broken Hill in far western New South Wales. By 1907 the field's mines had produced output worth about £52 million, and the 1908 Commonwealth Year Book called it one of the richest mining centres in the world.

The Broken Hill Mining Company, later BHP, was founded and began mining silver, zinc and lead at Broken Hill, New South Wales.

The first Commonwealth florin, shilling, sixpence and threepence were issued after the Coinage Act of 1909.

Australian silver coins struck from 1910 to 1945 were sterling (92.5% silver). In 1946, citing wartime costs, the content was cut to 50% silver, a standard that lasted until decimal currency arrived on 14 February 1966.

14 February 1966. Australia switched to dollars and cents. The round 50 cent coin, 80% silver, was issued only in 1966 and replaced in 1969 by the 12-sided cupronickel coin.

The Perth Mint first issued the Australian Kookaburra silver bullion coin in 1990. Its kookaburra design changes every year, and the 1 oz coin is capped at 500,000 a year. It was .999 fine until 2018, when it moved to .9999.