Royal Mint to the Royal Mint opening satellite branches of itself overseas. In Australia, the local Legislative Council petitioned the UK government to establish a branch of the Royal Mint in Sydney (Sydney Mint) after prospector Edward Hargraves discovered gold in Ophir, New South Wales in 1851. The petitioned gain royal assent in 1853 and plans were made by the Deputy Master of the Royal Mint in London to open the Royal Mint's first overseas branch within the colony. The Royal Mint's Superintendent of Coining travelled to Australia to oversee its establishment on Macquarie Street within the southern wing of Sydney Hospital
Royal Mint to be outsourced to another external agency thereby removing the refining process from the mint's responsibilities. The opportunity to handle in Mint's refinery was taken up by Anthony de Rothschild, a descendant of the Rothschild family and heir to the multinational investment banking company N M Rothschild & Sons. Rothschild secured a lease from the government in January 1852, purchasing equipment and a premise adjacent to the Royal Mint on 19 Royal Mint Street under the name of "Royal Mint Refinery". As Britain's influence as a world power expanded, with colonies being established abroad, a greater need for currency led