The Sydney Gazette and New South Wales Advertiser was founded in 1803 by George Howe, an editor, typesetter and printer who had been transported from London to Australia for shoplifting in 1800. It was printed using a press brought over by the first fleet.

The newspapers were assembled by a private collector over 50 years and comprise 800 editions.

The Gazette's founding editor was an "ingenious man and managed in spite of the inadequate press, a chronic shortage of ink and paper, and the refusal or inability of many of his subscribers to pay their debts", according to the Australian Dictionary of Biography.

At the time of first publication Sydney Cove had a population in the low thousands.

The newspaper ceased printing in 1842 when its then owner couldn't afford to pay his printers.

Antiquarian bookseller Douglas Stewart, who is selling the papers on behalf of the owner, said it was remarkable that the newspapers had survived over the centuries.

"The concept of a newspaper is that it's ephemeral; you keep it, you read it, you throw it away. So to have any copies that were kept is very unusual," he said.

Originally a weekly paper, The Gazette covered government announcements as well as the everyday matters of the people. Stories would encompass issues from the opening of a new pub or the sale of livestock, to announcements regarding general goods arriving by ship.

Mr Stewart said the texts provided a remarkable insight into life in early Australia.

"It's a unique document in that it's not just an official document that tells you about rules and regulations, it also has social history embedded in it," he said.

"That's what makes it a fascinating primary document that outlines the very first years of Australian society."

The collection will go on sale at the Rare Book Fair at Melbourne University today and tomorrow.