Aust. Banknotes - Private Bank Issues

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Lot 4236    SESSION 15 (7.30PM THURSDAY 4TH APRIL5    Aust. Banknotes - Private Bank Issues

Estimate $16,000
SOLD $14,000

GOVERNMENT OF NEW SOUTH WALES, (Sydney), Treasury note, one pound, uniface, undated (c1893), No.23409, imprint of 'Sydney: Charles Potter, Government Printer' (MVR fig196, p186). Folds and creases, pin hole top left corner, good fine and extremely rare.

Due to a banking crisis in 1893, all banks in Sydney closed their doors with the exception of the Union Bank, The Bank of Australasia, the Bank of New South Wales and the City Bank of Sydney. As the banknotes from all the failed banking institutions had no value and emergency notes issued could not be trusted there resulted in a total loss of confidence by the public in banknotes. The Government of New South Wales stepped in and issued Treasury Notes (backed by the Government) as an emergency issue. Only one pound notes were issued although other denominations were projected to be printed. The act for the note issue was repealed in April 1894. Numbers 1 (Cancelled, and formerly in Mitchell Library but stolen 1978, now recovered and returned), 4, 5 and 8, are known low numbers, other higher numbers such as this one are also known. Percy Marks commented that in June 1917 Treasury Note No.1 the first issued was presented to the Treasury for payment and it was presented to the Mitchell Library by the Minister. As a method of control to prevent forgery the signatures are in different coloured ink, blue and green (the later colour was very limited and used generally in Government circles only).

Ex Spink Australia Sale 1 (lot 129) and Caldwell Collection, Noble Numismatics Sale 118B (lot 4245).

Estimate / sale price does not include buyer's premium (currently 22% including GST) which is added to hammer price. All bids are executed on the understanding that the Terms & Conditions of sale have been read and accepted. For information on grading and estimates please refer to the Buying at Auction advice.

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Adjacent lots

  • Lot 4234  

    THE COMMERCIAL BANKING COMPANY OF SYDNEY LIMITED, specimen one pound Sydney 189-, No F200001/250000 (MVR ...

    Estimate $10,000

  • Lot 4235  

    COMMERCIAL BANKING COMPANY OF SYDNEY, specimen five pounds Sydney 18, No C00001/C10000 (MVR 4a) perforated ...

    Estimate $1,500

  • Lot 4236   This lot

    GOVERNMENT OF NEW SOUTH WALES, (Sydney), Treasury note, one pound, uniface, undated (c1893), No.23409, imprint ...

    Estimate $16,000

  • Lot 4237  

    THE NATIONAL BANK OF AUSTRALASIA, one pound, Melbourne, 29th February 1896, 260911 (MVR 4bM). Thin ...

    Estimate $5,500

  • Lot 4238  

    THE NATIONAL BANK OF AUSTRALASIA, one pound, Adelaide 1st January 1904, 305687 (MVR type 4). ...

    Estimate $350