Private Bank Issues

Lot 1566       Private Bank Issues

Estimate $5,000
Bid at live.noble.com.au
SOLD $7,300

THE DERWENT BANK, Hobart, Van Diemens Land, twenty pounds, [altered from one pound], 1 June 1832 (year 18 printed), No. 4849, hand signed by Cedric Swanston and Stephen Adey, on printed form and at base imprint, 'Perkins & Bacon, London, Pat. and hardened Steel Plate', black-brown on white, on unwatermarked paper, arms of Hobart upper left all within rectangular spiral border, in black ink, on front additional initials and date '11 Oct 41' in two places and on back 'Produced Police Office Oct. 11/41, Exhibited in the Reprieve(?) Court in Reg: v. Watkins(?) this 20th October 1841, No. 3 (signed) E.M Hodgson' also an uncertain pair of signatures, (Vort-Ronald [p.154-5]). Uneven worn edges, many folds and some stain marks on the back, otherwise nearly fine, the note overall being in better than average condition for this period, unique.

Type not present in the recent sale of Perkins Bacon Archives in May 1995. This note is the only known surviving issued example from the Derwent Bank (1827-1849) and is also one of the earliest surviving issued Australian Colonial banknote's, in private hands. It was fraudulently altered from a one pound note to a twenty pound note and survived because it was an exhibit in a court case. The signature of the director is that of Cedric Swanston, after whom Swanston Street in Melbourne was named. The alterations on the note were quite skillfully done and add to the interest in this rarity making this banknote a highlight of this section of Pre-federation issues in the Nicholson collection.