Private Bank Issues

Lot 1603       Private Bank Issues

Estimate $750
Bid at live.noble.com.au
SOLD $1,650

THE ROYAL BANK OF QUEENSLAND LIMITED, Brisbane, one pound, dated 1 January 1887 (date printed), not numbered, on paper with three official perforations holes, proof, no signatures, no watermarks, imprint of 'Perkins Bacon & Co. London', vignette of Royal Arms with supporters in centre, 'ONE' in three circle geometric frames in three corners, states 'On demand I Promise to pay to the Bearer ONE POUND Sterling. Brisbane ... For The Royal Bank of Queensland Limited', on back geometric name and value tablet and numeral 1 on each side of the back, black on white/green on white, (Vort-Ronald, Fig.220 and cf.Fig.221, [p.213-214 an issued note], comments p.213-4 on bank, also Tomlinson p.91 a cancelled note illustrated). Good extremely fine and very scarce.

This bank was founded in 1885 and amalgamated with the Bank of North Queensland in 1917. The merged banks became the 'Bank of Queensland' and it survived until 1922 when it was taken over by the National Bank. Notes from the Royal Bank of Queensland constituted about 5% of notes in circulation in Queensland, but few seemed to survive. The proof and specimen notes are also rare with only a few examples in the May Spink sale. A similar proof note was in the this Spink Perkins Bacon Archive auction sale in May 1995 (lot 784 but was not illustrated). Proof notes are usually found trimmed back to the edge of the design, probably a strategem to prevent proofs being passed into circulation.