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AUSTRALIA: AE 1/2 penny token, ND (1854), PCGS MS62 BN

Currency:USD Category:Coins & Paper Money / World Coins - Australia Start Price:85.00 USD Estimated At:100.00 - 150.00 USD
AUSTRALIA: AE 1/2 penny token, ND (1854), PCGS MS62 BN
SOLD
260.00USD+ buyer's premium (52.00)
This item SOLD at 2026 Sep 20 @ 12:48UTC-07:00 : PDT/MST
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BUYER'S PREMIUM - The Buyer's Premium is $20 per lot or 20% of the hammer price, whichever amount is greater.
AUSTRALIA: AE 1/2 penny token, ND (1854), KM-Tn244, Andrews-573, Kangaroo Office issue, W.J. Taylor, Melbourne, a pleasing mint state example, PCGS graded MS62 BN. William Joseph Taylor and his business partners established the Kangaroo Office to take advantage of the explosive economic growth in Australia following the discovery of gold in 1851. They hoped to buy gold at greatly reduced prices from the gold fields and then release it at full value in the form of quarter-ounce, half-ounce, one ounce and two ounce gold coins. However due to the time required to travel between London and Melbourne, once the Kangaroo Office was ready for business in 1854, an increase in the number of British sovereigns had seen the price of gold rise, and the potential profits for the Kangaroo Office sharply decline. Not deterred, in late 1854 Taylor prepared dies for a series of pattern copper tokens that it was hoped could be produced in Melbourne by the Kangaroo Office for circulation within Australia. It appears that this did not succeed, and in 1855 Taylor began to create shilling and sixpence patterns in silver. However the Kangaroo Office again failed to obtain authority to strike and circulate these silver tokens and in 1857 the Kangaroo Office closed.