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In 1851 the privilege of coining
was still jealously monopolized by the mint in London; while the rapid
expansion of business in the latter part of that year had rendered the
supply of coin in Australia totally inadequate to the demand.
Very soon after the discoveries, Governor Fitzroy had sent home a
memorial from the Legislative Council at Sydney, praying for the
establishment of a branch mint in that city, and similar applications
soon followed from the other colonies. On March 22, 1853, a Treasury
minute sanctioned the applications, and colonial mints were shortly
afterward established by order in council. But in the mean while the
South Australians had got over their difficulty by passing a colonial
act authorizing the issue by the Colonial Government of gold ingots, of
slightly higher intrinsic value than the coins they were supposed to
represent, stamped with an authentic mark. These ingots were not made
legal tender, and the only object of the government mark was to
guarantee quality and weight.


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