New Zealand Banknotes

Lot 2481    Session 8 (2.30pm)    New Zealand Banknotes

Estimate $7,000
Bid at live.noble.com.au
SOLD $6,000

RESERVE BANK OF NEW ZEALAND, L.Lefeaux, one pound, 1st August 1934, number letter, 1A 000001 (Robb R.122; L.604; P.155). Two pin holes in top margin, small corner fold top right, tiny nick in right margin with other minor edge disturbances from being in a frame, otherwise good extremely fine and a very rare and important serial number one.

According to Robert Pepping in his book 'New Zealand History Noted', six million one pound notes were ordered by the Reserve Bank Board in February of 1934. The first prefixes are recorded as A, 1A, 2A, 3A, 4A and 5A and logic would dictate that they were issued to the public in prefix order. The number A 000001 was the first No.1 pound issued and this was presented to the then Minister of Finance, Gordon Coates (Pepping p.8). The second prefix being 1A and this note numbered 000001 would have been the first No.1 available to the public and was probably souvenired at the time of the release of the new Reserve Bank notes, possibly by a bank employee. This note was used as payment for a room at the Alexandra Hotel in 1935. The hotel owners recognising that the note was 'special' decided to frame it and hang it on the wall. It remained with the family until quite recently. The old frame is being sold as part of the lot.