Private Bank Issues

Lot 1558       Private Bank Issues

Estimate $4,000
Bid at live.noble.com.au
SOLD $4,300

THE COLONIAL BANK OF AUSTRALASIA LIMITED, Melbourne, uniface one pound, dated 1st January 1908, (date fully printed), numbered 692781, on paper, signed by uncertain Manager and countersigned by Accountant R.S. Horwood, no watermark, imprint 'Sands & McDougall Limd. Engravers, Melbourne', vignette in centre of modified Royal Arms, value tablet in right hand corner as geometrical round circles with '1' inside, Royal Arms above cows in circle in left hand upper corner, all within rectangular border, states below, 'The Colonial Bank of Australasia limited, Promise to pay to the Bearer on Demand at the Office here ONE POUND Sterling. By order of the Directors', brown 'ONE' in circles across the note, brown and black on white, (Vort-Ronald, Type three (b), comments on bank and type p.128-132, one pound note of similar type illustrated Fig. 139 [p.132]), This Note, noted in text. Minor rust spots on edge, some folds and creases, otherwise very fine and extremely rare.

The Colonial Bank of Australasia Limited (1856-1918) used a local producer Sands & McDougall of Melbourne for this issue with their imprint placed at the base of the note. The bank traded in only one state, Victoria, as a small bank, with a limited note circulation. The number of known notes in private hands from this bank is believed to be less than five and probably a lesser number in the public and bank official collections.