Private Bank Issues

Lot 1517       Private Bank Issues

Estimate $5,000
Bid at live.noble.com.au
SOLD $6,000

BANK OF AUSTRALIA, Sydney, one pound, July 1, 1838, (18 printed), No. 90316 and 90314, made out to W. Gardiner, hand signed by uncertain Directors maybe Thomas Ryan (?) and another, and entered by G.E. Strafford, printed on unwatermarked paper, with trace of imprint on centre of bottom frame, appears to be 'Perkins & Heath, London', vignette of three women top centre, a sheep, top left and a One in wreath top right all within rectangular spiral border, on back in black ink, two signatures, black on white, (Vort-Ronald Type Two, p.65 This Note described; Nicholson p.4, This Note illustrated). Repaired on lower frame area, and right side, normal aging tone and minor ink smudges, otherwise very good, and believed unique.

The Bank of Australia was established in 1826 by John Macarthur, (sheep vignette), and vied with the Bank of New South Wales to be the premier bank in New South Wales. Weakened by robbery in 1828, it was forced to replace the note issue. The bank crises of 1843 forced it into liquidation. This note is also interesting in an error by the number writer (Stafford?) of giving the note two different numbers. This one pound note is the only surviving example of this bank and is one of the most significant pre-federation notes in this collection.