New Zealand Banknotes - Trading Bank Issues

Lot 2593    SESSION 8 (2.30pm Wednesday 22 July)    New Zealand Banknotes - Trading Bank Issues

Estimate $2,500
Bid at live.noble.com.au
SOLD $2,700

BANK OF NEW ZEALAND, sixth issue, one pound, Wellington, rubber date stamp 1 Feb 1918?, No. 064277, without serial letter, booklet issue, imprint of Bradbury, Wilkinson & Co Ld Engravers & c London (Robb.D.621[previously 16.ai]; L.455; P.S212). Many creases and folds, stains at right, minor pinholes, otherwise nearly fine and very rare.

The sixth issue one pound purportedly ceased being issued in 1916. It is unclear from Griffin if this serial type is from the early part of the issue or the end of it. The illustrated example in his book "Bank of New Zealand Banknotes 1861-1934" was no doubt an early "specimen" for the issue and shows a lettered prefix. Robb indicates (in his 2006 draft catalogue) that the un-lettered notes were issued from 1902-1904. The date stamp on the example being sold is unclear (it could also possibly be 1903, 1908 or 1916). It is however our view that the note is dated 1918. The likely scenario being that this was a left-over form issued after the sixth series had officially ended. The case for this could be born out by the fact that notes at the start of the seventh issue pound had no serial letter, and that an example of an early sixth issue pound sold by Spink (Australia) (Sale 31, lot 701) had the hand entered date of 1st July 1905 and the serial prefix "B". It is likely that the rubber stamping of dates was from a later period. Furthermore, the biggest clue to the late issue theory comes from the signatory, Manager A.L. Hempton (Chief Auditor of the bank in the 1930's), he was still signing notes as Manager in the 1920's. It is therefore more than likely that he was a Manager at the end of WWI rather than at the beginning of the century. We suspect that the first notes from the sixth issue which started in 1902 had the prefix letter "A" and that notes from the end of the series had no serial letter. Robb also indicates that only two notes of this serial type are known in private hands, with a further example in an institution. A note certainly worthy of further research.