The coin known as the “Holey Dollar” set a new world record this week when it sold at auction for the U.S. equivalent of $508,000. The coin was created in the early 1800’s, and, according to Belinda Downie, a numismatics expert and managing director of Coinworks, is the one of the finest specimens of Holey Dollars in existence. “This Holey Dollar was created from a Spanish Silver Dollar that had been minted at the Lima Mint in Peru in 1808,” she said. “Only twenty of the 200 specimens held by private collectors have ties to the Lima Mint. And this is the absolute finest of them all.” The coin was introduced in 1813 during a currency crisis in New South Wales, a colony that would later become part of Australia. Coinworks handled the Melbourne, Australia auction, and the buyer was a private collector from the Australian State of Western Australia.