Private Bank Issues


Lot 4245    Session 15 (7:30pm Thursday 2nd August)    Private Bank Issues

Estimate $20,000

GOVERNMENT OF NEW SOUTH WALES, (Sydney), Treasury note, one pound, uniface, undated (c1893), No.23409, imprint of 'Sydney: Charles Potter, Government Printer' (MVR fig196, p186). Folds and creases, pin hole top left corner, good fine and extremely rare.

Due to a banking crisis in 1893, all banks in Sydney closed their doors with the exception of the Union Bank, The Bank of Australasia, the Bank of New South Wales and the City Bank of Sydney. As the banknotes from all the failed banking institutions had no value and emergency notes issued could not be trusted there resulted in a total loss of confidence by the public in banknotes. The Government of New South Wales stepped in and issued Treasury Notes (backed by the Government) as an emergency issue. Only one pound notes were issued although other denominations were projected to be printed. The act for the note issue was repealed in April 1894. Numbers 1 (Cancelled, and formerly in Mitchell Library but stolen 1978, now recovered and returned), 4, 5 and 8, are known low numbers, other higher numbers such as this one are also known. Percy Marks commented that in June 1917 Treasury Note No.1 the first issued was presented to the Treasury for payment and it was presented to the Mitchell Library by the Minister. As a method of control to prevent forgery the signatures are in different coloured ink, blue and green (the later colour was very limited and used generally in Government circles only).

Ex Spink Australia Sale 1 (lot 129).

Estimate / sale price does not include buyer's premium (currently 22% including GST) which is added to hammer price. All bids are executed on the understanding that the Terms & Conditions of sale have been read and accepted. For information on grading and estimates please refer to the Buying at Auction advice.

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Adjacent lots

  • Lot 4243  

    THE PROVINCIAL AND SUBURBAN BANK LIMITED, ten pounds, Melbourne, 18- (c1879), No. 04281, unsigned, appears ...

    Estimate $400

  • Lot 4244  

    THE UNION BANK OF AUSTRALIA LIMITED, one pound, Sydney, 2nd Jany. 1899, 2/A 812648 (MVR ...

    Estimate $6,000

  • Lot 4245   This lot

    GOVERNMENT OF NEW SOUTH WALES, (Sydney), Treasury note, one pound, uniface, undated (c1893), No.23409, imprint ...

    Estimate $20,000

  • Lot 4246  

    QUEENSLAND GOVERNMENT, Brisbane, one pound, 1st July 1897, A/1 825796 (MVR 1). Limp paper, many ...

    Estimate $6,000

  • Lot 4247  

    QUEENSLAND GOVERNMENT, Brisbane, one pound, 2nd July 1906, D/1 927801, imprint of Perkins Bacon & ...

    Estimate $7,000