News spread fast that a goldfield had been discovered in 1851 at Ophir, north of Bathurst. Prospectors soon arrived from around the world seeking to strike it lucky.

NSW Treasury was central to flow of gold being dug and panned out of the goldfields.

Some gold was traded locally to buy equipment, food and drink, but most was exchanged with the NSW Gold Commissioner for a fixed price – then it was transported under guard to the new Treasury building on Macquarie Street, Sydney, before being dispatched to London.

Bathurst and Sydney gold escort, scene, Blue Mountain Road, Lacy, George  National Library of Australia

The gold rush produced so much precious metal that Treasury soon decided it could not receive and store all the gold arriving at its premises and made arrangements with the commercial banks around Sydney to help store the gold.

The discovery of gold led to the demographic, economic, social and political transformation of New South Wales into an urban-industrial society.

Last updated: 04/11/2024