Banknotes of the Australian pound#Commonwealth banknotes of the Australian pound
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{{Use dmy dates|date=September 2019}}
{{Use Australian English|date=September 2019}}
{{Css Image Crop|Image = AUS-Bank of Queensland Limited Dalby Branch £1 Dec 1, 1864.jpg|bSize = 265|cWidth = 265|cHeight = 166|oTop = 0|oLeft = 0|Location = right|Description=An issued Bank of Queensland £1 note (1864)}}
Banknotes of the Australian pound were first issued by numerous private banks in Australia, starting with the Bank of New South Wales in 1817.{{sfn|Pitt|2013|p=163}}{{refn| This article is a split-off from Australian pound. The opening text was initially copied verbatim from the Banknotes section of the article.| group="nb"}} Acceptance of private bank notes was not made compulsory by legal tender laws but they were widely used and accepted. The Queensland government issued treasury notes (1866–1869) and banknotes (1893–1910),{{sfn|Pitt|2013|p=180}} which were legal tender in Queensland. The New South Wales government issued a limited series of Treasury Notes in 1893.{{sfn|Pitt|2013|p=180}}
In 1910, the Commonwealth passed the Australian Notes Act of 1910 to initiate banking and currency reform. The Act stipulated that six months after the date of passage (16 September 1910), private banks could no longer issue any form of money, and that any note or instrument issued by a State Bank would no longer be considered legal tender.{{sfn|Australian Notes Act|1910|p=14}} The Act further established the powers of the Commonwealth to issue, re-issue, and cancel Australian notes.{{sfn|Australian Notes Act|1910|p=15}} The Act also established denominations, legal tender status, and the amount of gold coin held in reserve to secure the issues.{{sfn|Australian Notes Act|1910|p=15}} On 10 October 1910 (prior to the effective date of the Notes Act), a Bank Notes Tax Act 1910 imposed a "Ten pounds per centum" tax on all issued or re-issued bank notes.{{sfn|Bank Notes Tax Act|1910}} A third currency reform act was passed on 22 December 1911 establishing the Commonwealth Bank.{{sfn|Commonwealth Bank Act|1911}} The Commonwealth Bank Act of 1911 specifically stated that the bank was not to issue bills or notes for circulation.{{sfn|Commonwealth Bank Act|1911|p=Part II(8)}} The Australian Treasury issued banknotes until a 1920 amendment to the Commonwealth Bank Act of 1911. The amendment established a note-issuing department within the bank which assumed those responsibilities previously held by the Treasury.{{sfn|Commonwealth Bank Act|1920|p=No.7(60a-60h)}}
On 14 February 1966 the Australian pound was replaced by a decimal currency, the Australian dollar, which was divided into one hundred cents.{{cite web | url = http://www.dfat.gov.au/facts/currency.html | title = Our currency | access-date = 12 July 2013 | author = Department of Foreign Affairs and Trade | date = November 2009 | work = About Australia | publisher = Commonwealth of Australia | archive-date = 23 May 2012 | archive-url = https://web.archive.org/web/20120523201355/http://www.dfat.gov.au/facts/currency.html | url-status = dead }}
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Superscribed banknotes (1910–1914)
{{Css Image Crop|Image = AUS-S45-London Bank of Australia Limited-One Pound (1910-14, superscribed).jpg|bSize = 265|cWidth = 265|cHeight = 190|oTop = 0|oLeft = 0|Location = right|Description=A superscribed note from the London Bank of Australia Limited}}
The first national issue of paper money (known as Superscribed banknotes) consisted of overprinted notes from fifteen private banks and the Queensland government, issued between 1910 and 1914 in denominations of £1, £5, £10, £20, £50 and £100.{{sfn|Pitt|2013|p=176}} The notes, purchased by the Australian government from the remaining private bank stock,{{sfn|Pitt|2013|p=176}} were overprinted with the words "Australian note". Surviving notes above the £10 denomination are extremely rare: two £20 notes are known (privately held), £50 notes are known in the collections of the Reserve Bank of Australia and the Art Gallery of South Australia, and no £100 banknotes of this series are known to exist.{{sfn|Pitt|2013|p=176}}
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class="wikitable"
|+ Superscribed banknote issuers (1910–14) |
scope="col" style="width:175px;"| Bank Charter (in operation) ! scope="col" style="width:175px;"| Location ! scope="col" style="width:175px;"| Branches ! scope="col" style="width:60px;"| Issue ! scope="col" style="width:100px;"| In operation |
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Australian Bank of Commerce Limited
|Sydney, NSW |Brisbane, Sydney |1,5,10,50 |1910–31 |
Bank of Adelaide
|Adelaide, SA |Adelaide |1,5,10,20,50 |1865–1980 |
Bank of Australasia
|London, England |Brisbane, Hobart, Melbourne, Perth, Sydney |1,5,10,50,100 |1835–1951 |
Bank of New South Wales
|Sydney, NSW |Adelaide, Melbourne, Perth, Sydney |1,5,10,20,50,100 |1817–1982 |
Bank of Victoria Limited
|Melbourne, Victoria |Melbourne |1,5,10,20,50 |1852–1927 |
City Bank of Sydney
|Sydney, NSW |Sydney |1,5,10,20,50 |1864–1918 |
Colonial Bank of Australasia
|Melbourne, Victoria | | |1856–1918 |
Commercial Bank of Australia Limited
|Melbourne, Victoria |Hobart, Perth |1,5 |1866–1982 |
Commercial Bank of Tasmania Limited
|Hobart, Tasmania |Hobart, Launceston |1,5,10,20 |1829–1921 |
Commercial Banking Company of Sydney Limited
|Sydney, NSW |Sydney |1,5,10 |1834–1982 |
English Scottish and Australian Bank Limited
|London, England |Adelaide, Melbourne, Sydney |1,5,10,20,50 |1852–1970 |
London Bank of Australia Limited
|London, England |Adelaide, Melbourne, Sydney |1,5,10,50,100 |1852–1921 |
National Bank of Australasia Limited
|Melbourne, Victoria |Adelaide, Melbourne, Perth, Sydney |1,5,10,20,50,100 |1858–1982 |
Queensland Government
|Brisbane, Queensland |Brisbane |1,5 |1893–1910 |
Royal Bank of Australia Limited
|London, England |Melbourne, Sydney |1 |1888–1927 |
Union Bank of Australia Limited
|London, England |Adelaide, Hobart, Melbourne, Perth, Sydney |1,5,10,20,50 |1837–1951 |
Western Australian Bank
|Perth, WA |Perth |1,5,10 |1841–1927 |
Commonwealth banknotes of the Australian pound
In 1913 the first national banknotes were introduced in denominations of 10s,{{sfn|Pitt|2013|p=183}} £1,{{sfn|Pitt|2013|p=191}} £5,{{sfn|Pitt|2013|p=200}} and £10.{{sfn|Pitt|2013|p=207}} 1914 saw the introduction of £20,{{sfn|Pitt|2013|p=212}} £50,{{sfn|Pitt|2013|p=213}} £100,{{sfn|Pitt|2013|p=214}} and £1,000 notes.{{sfn|Pitt|2013|p=215}} The £1,000 note only saw limited circulation and was later confined to inter-bank use. Stocks were destroyed in 1969 and there are no uncancelled examples of this note known to exist in private hands, though a single cancelled example sold in a 2007 auction for AU$1,200,000.{{sfn|Pitt|2013|p=215}}
Design alterations were introduced fairly quickly. Beginning in 1915, 10s notes included a red "Half Sovereign" overprint.{{sfn|Pitt|2013|p=184}} Banknote size was reduced for the £1 (1923),{{sfn|Pitt|2013|p=195}} £5 (1924),{{sfn|Pitt|2013|p=202}} and £10 (1925).{{sfn|Pitt|2013|p=208}} A portrait of King George V was introduced in the mid-1920s on the 10s through £10 notes.{{sfn|Pitt|2013|pp=185–208}} These notes still referred to the currency's convertibility to gold on demand.{{sfn|Pitt|2013|pp=185–208}} A newer £1,000 note (1923–1928) with the profile of George V was also prepared but never issued.{{sfn|Pitt|2013|p=220}} A punch-cancelled specimen note was discovered in London in 1996 and subsequently sold for a sum in excess of $200,000. Nonetheless, this note is not recognised as a legitimate Australian banknote issue.
Just after the start of the Great Depression in 1933, Australian currency ceased to be redeemable for gold at the previously maintained rate of one gold sovereign for one pound currency. Subsequently, a new series of legal tender notes were designed, once again bearing the portrait of King George V, in denominations of 10s, £1, £5 and £10.{{sfn|Pitt|2013|pp=185–209}} These denominations and designs were maintained and modified to accommodate the portrait of King George VI in 1938.{{sfn|Pitt|2013|pp=189–210}} For both issues £50 and £100 specimens were prepared, but were not issued.{{sfn|Pitt|2013|pp=219–220}}
=Issuance of the Australian pound banknote (1913–1965)=
class="wikitable sortable"
|+ Issuance of the Australian pound banknote (1913–1965) |
scope="col" style="width:40px;"| Issue{{sfn|Cuhaj|2010}}
! scope="col" style="width:60px;"|Value ! scope="col" style="width:175px;"| Banknote ! scope="col" style="width:185px;"| Varieties{{sfn|Pitt|2013}} ! scope="col" | Images |
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rowspan="6"|{{center|1913 First Issue}}
!5 Shillings | |Cerutty and Collins |
10 Shillings 1913 |{{Css Image Crop|Image = AUS-Commonwealth of Australia-10 Shillings (1913).jpg|bSize = 300|cWidth = 300|cHeight = 135|oTop = 0|oLeft = 0|Location = center}} |O:Arms |
1 Pound 1913 |O:Crowned arms, blue with multicolour underprint |
1 Pound (1894) 1914–15 | | Collins and Allen |O:Allegory of woman with anchor |
1 Pound 1914–15 |{{Css Image Crop|Image = AUS-2-Commonwealth of Australia-One Pound (1913 - 1914) Rainbow Note.jpg|bSize = 300|cWidth = 300|cHeight = 172|oTop = 0|oLeft = 0|Location = center}} | Collins and Allen |O:Black text on multicolour underprint |
1914–24 |{{Css Image Crop|Image = AUS-2A-Commonwealth of Australia-1000 Pounds (1914-24).jpg||bSize = 300|cWidth = 300|cHeight = 194|oTop = 5|oLeft = 0|Location = center}} | Collins and Allen |O:Arms | 1,000 Pounds
rowspan="7"|{{center|1913 Second Issue}}
!10 Shillings |{{Css Image Crop|Image = AUS-3b-Commonwealth of Australia-10 Shillings (1918).jpg|bSize = 300|cWidth = 300|cHeight = 137|oTop = 0|oLeft = 0|Location = center}} |Collins and Allen (1915) |O:Arms, blue text multicolour underprint, "Half Sovereign" red overprint |
1 Pound 1913–18 |{{Css Image Crop|Image = AUS-4d-Commonwealth of Australia-One Pound (1918).jpg|bSize = 300|cWidth = 300|cHeight = 155|oTop = 0|oLeft = 0|Location = center}} | Collins and Allen (1914) |O:Crowned arms, blue with multicolour underprint |
5 Pounds 1913–18 |{{Css Image Crop|Image = AUS-5c-Commonwealth of Australia-5 Pounds (1918).jpg|bSize = 300|cWidth = 300|cHeight = 190|oTop = 0|oLeft = 0|Location = center }} | Collins and Allen |O:Arms, blue with multicolour underprint |
10 Pounds 1913–18 |{{Css Image Crop|Image = AUS-6b-Commonwealth of Australia-10 Pounds (1918).jpg|bSize = 300|cWidth = 300|cHeight = 188|oTop = 0|oLeft = 0|Location = center }} | Collins and Allen | O:Arms, blue with multicolour underprint |
1914–18 |{{Css Image Crop|Image = AUS-7b-Commonwealth of Australia-20 Pounds (1918).jpg|bSize = 300|cWidth = 300|cHeight = 187|oTop = 0|oLeft = 0|Location = center }} | Collins and Allen | O:Arms, blue with multicolour underprint | 20 Pounds
1914–18 |{{Css Image Crop|Image = AUS-8c-Commonwealth of Australia-50 Pounds (1918).jpg|bSize = 300|cWidth = 300|cHeight = 187|oTop = 0|oLeft = 0|Location = center }} | Collins and Allen | O:Arms, blue with multicolour underprint | 50 Pounds
1914–18 |{{Css Image Crop|Image = AUS-9c-Commonwealth of Australia-100 Pounds (1918).jpg|bSize = 300|cWidth = 300|cHeight = 187|oTop = 0|oLeft = 0|Location = center }} | Collins and Allen | O:Arms, blue with multicolour underprint | 100 Pounds
rowspan="4"|{{center|1923–25 Issue}}
! |{{Css Image Crop|Image = AUS-10-Commonwealth Bank of Australia-Half Sovereign (1923).jpg|bSize = 300|cWidth = 300|cHeight = 139|oTop = 0|oLeft = 0|Location = center }} |Miller and Collins (1923){{refn|group="nb"|name= Harrison specimen| These specimen notes (Harrison Issue) are perforation-cancelled, have black diagonal lines across the front and back, and two large punch holes on the front left side. A single specimen note of this type appeared in auction and is valued to be a six-figure (USD) banknote.{{sfn|Pitt|2013|p=217}} }} | |
1 Pound 1923 |{{Css Image Crop|Image = AUS-11b-Commonwealth Bank of Australia-One Pound (1923).jpg|bSize = 300|cWidth = 300|cHeight = 137|oTop = 0|oLeft = 0|Location = center}} | Miller and Collins{{refn|group="nb"|name= Harrison specimen}} |O:George V, olive-green with multicolor underprint |
5 Pounds 1924–27 |{{Css Image Crop|Image = AUS-13a-Commonwealth Bank of Australia-5 Pounds (1924).jpg|bSize = 300|cWidth = 300|cHeight = 136|oTop = 0|oLeft = 0|Location = center }} |Kell and Collins (1924){{refn|group="nb"|name= Harrison specimen}} |O:George V, blue with multicolour underprint |
10 Pounds 1925 |{{Css Image Crop|Image = AUS-14-Commonwealth Bank of Australia-10 Pounds (1925).jpg|bSize = 300|cWidth = 300|cHeight = 135|oTop = 0|oLeft = 0|Location = center }} |Kell and Collins |O:George V, red with multicolour underprint |
rowspan="4"|{{center|1926–27 Issue}}
! |{{Css Image Crop|Image = AUS-15d-Commonwealth Bank of Australia-Half Sovereign (1933).jpg|bSize = 300|cWidth = 300|cHeight = 136|oTop = 0|oLeft = 0|Location = center }} | Kell and Collins (1926) |O:George V, brown with multicolour underprint, Half Sovereign overprint |
1 Pound 1926–32 |{{Css Image Crop|Image = AUS-16c-Commonwealth Bank of Australia-One Pound (1927).jpg|bSize = 300|cWidth = 300|cHeight = 140|oTop = 0|oLeft = 0|Location = center}} | Kell and Collins (1926) |O:George V, olive-green with multicolor underprint |
5 Pounds 1927–32 | | Riddle and Heathershaw (1927) |O:George V, blue with multicolour underprint |
10 Pounds 1925–33 | Kell and Collins (1925) |O:George V, red with multicolour underprint |
rowspan="6"|{{center|1933–34 Issue}}
!10 Shillings | |O:George V, brown with multicolour underprint |
10 Shillings 1934 |{{Css Image Crop|Image = AUS-20-Commonwealth Bank of Australia-10 Shillings (1934).jpg|bSize = 300|cWidth = 300|cHeight = 160|oTop = 2|oLeft = 0|Location = center}} |O:George V, brown with multicolour underprint, overprint Ten Shillings |
10 Shillings 1936–39 |{{Css Image Crop|Image = AUS-21-Commonwealth Bank of Australia-10 Shillings (1936–39).jpg|bSize = 300|cWidth = 300|cHeight = 173|oTop = 0|oLeft = 0|Location = center }} |O:George V, orange with multicolour underprint, overprint Ten Shillings |
1 Pound 1933–38 |{{Css Image Crop|Image = AUS-22a-Commonwealth Bank of Australia-One Pound (1933–38).jpg|bSize = 300|cWidth = 300|cHeight = 162|oTop = 2|oLeft = 0|Location = center}} |O:George V, green with multicolour underprint |
5 Pounds 1933–39 |{{Css Image Crop|Image = AUS-23b-Commonwealth Bank of Australia-Five Pounds (1933–39).jpg|bSize = 300|cWidth = 300|cHeight = 142|oTop = 0|oLeft = 0|Location = center}} |O:George V, blue with multicolour underprint |
10 Pounds 1934–39 |{{Css Image Crop|Image = AUS-24-Commonwealth Bank of Australia-10 Pounds (1934–39).jpg|bSize = 300|cWidth = 300|cHeight = 142|oTop = 0|oLeft = 0|Location = center}} |O:George V, red with multicolour underprint |
rowspan="7"|{{center|1938–40 Issue}}
!5 Shillings | |Armitage and McFarlane |O:George VI, black with red-brown underprint |
10 Shillings 1939–54 |{{Css Image Crop|Image = AUS-25a-Commonwealth Bank of Australia-10 Shillings (1939).jpg|bSize = 300|cWidth = 300|cHeight = 173|oTop = 0|oLeft = 0|Location = center }} | Sheehan and McFarlane (1939) |O:George VI, orange with multicolour underprint |
1 Pound 1938–52 |{{Css Image Crop|Image = AUS-26a-Commonwealth Bank of Australia-One Pound (1938).jpg|bSize = 300|cWidth = 300|cHeight = 163|oTop = 0|oLeft = 0|Location = center }} | Sheehan and McFarlane (1938) |O:George VI, green with multicolour underprint |
5 Pounds 1939–52 |{{Css Image Crop|Image = AUS-27d-Commonwealth Bank of Australia-Five Pounds (1952).jpg|bSize = 300|cWidth = 300|cHeight = 138|oTop = 0|oLeft = 0|Location = center}} | Sheehan and McFarlane (1939) |O:George VI, blue with multicolour underprint |
10 Pounds 1940–52 |{{Css Image Crop|Image = AUS-28b-Commonwealth Bank of Australia-10 Pounds (1942).jpg|bSize = 300|cWidth = 300|cHeight = 137|oTop = 0|oLeft = 0|Location = center}} | Sheehan and McFarlane (1940) |O:George VI, red with multicolour underprint |
1939 | | Sheehan and McFarlane |O:George VI, purple with multicolour underprint | 50 Pounds
1939 | | Sheehan and McFarlane |O:George VI, brown with multicolour underprint | 100 Pounds
rowspan="4"|{{center|1953–54 Issue}}
!10 Shillings |{{Css Image Crop|Image = AUS-29-Commonwealth Bank of Australia-10 Shillings (1954-60).jpg|bSize = 300|cWidth = 300|cHeight = 173|oTop = 0|oLeft = 0|Location = center}} |Coombs and Wilson (1954) |O:Matthew Flinders, arms, brown with multicolour underprint |
1 Pound 1954–60 |{{Css Image Crop|Image = AUS-26d-Commonwealth Bank of Australia-One Pound (1952).jpg|bSize = 300|cWidth = 300|cHeight = 160|oTop = 0|oLeft = 0|Location = center}} |O:Elizabeth II, arms, green with multicolour underprint |
5 Pounds 1954–59 |{{Css Image Crop|Image = AUS-31-Commonwealth Bank of Australia-Five Pounds (1954).jpg|bSize = 300|cWidth = 300|cHeight = 150|oTop = 0|oLeft = 0|Location = center}} |O:Sir John Franklin, arms, blue on multicolour underprint |
10 Pounds 1954–59 |{{Css Image Crop|Image = AUS-32-Commonwealth Bank of Australia-10 Pounds (1954–59).jpg|bSize = 300|cWidth = 300|cHeight = 142|oTop = 0|oLeft = 0|Location = center}} |O:Gov. Arthur Phillip, arms, red and black with multicolour underprint |
rowspan="2"|{{center|1960–61 Issue}}
!5 Pounds | |O: Sir John Franklin, arms, black on blue underprint |
10 Pounds 1960–65 | | O:Gov. Arthur Phillip, arms, black with red underprint |
References
=Footnotes=
{{Portal|Australia|Money|Numismatics}}
{{Reflist|group="nb"}}
=Notes=
{{Reflist|2}}
=Bibliography=
- {{Cite book |url=https://books.google.com/books?id=22dKPgAACAAJ&q=standard+catalog+of+specialized+issues|title= Standard Catalog of World Paper Money Specialized Issues|edition=11|publisher=Krause|isbn=978-1-4402-0450-0|editor-last=Cuhaj|editor-first=George S.|year=2009}}
- {{Cite book|url=https://books.google.com/books?id=BuNA39dnuHsC|title=Standard Catalog of World Paper Money General Issues (1368–1960)|edition=13|publisher=Krause|isbn=978-1-4402-1293-2|editor-last=Cuhaj|editor-first=George S.|year=2010}}{{Dead link|date=September 2023 |bot=InternetArchiveBot |fix-attempted=yes }}
- {{cite book |url= https://books.google.com/books?id=eLjpnQEACAAJ |title= Renniks Australian Coin and Banknote Values|edition=25|publisher= Renniks Publications|isbn=978-0-9873386-2-4|editor-last=Pitt|editor-first=Michael T.|year=2013}}
- {{cite act| title = Australian Notes Act| number = 11| date = 16 September 1910| article = | articletype= | url = http://www5.austlii.edu.au/au/legis/cth/num_act/ana191011o1910241/ | accessdate = 11 July 2015 |ref={{harvid|Australian Notes Act|1910}}}}
- {{cite act| title = Bank Notes Tax Act 1910| number = 14| date = 10 October 1910| article = | articletype= | url = https://www.comlaw.gov.au/Details/C1910A00014 | accessdate = 11 July 2015 |ref={{harvid|Bank Notes Tax Act|1910}}}}
- {{cite act| title = Commonwealth Bank Act 1911| number = 18| date = 22 December 1911| article = | articletype= | url = https://www.comlaw.gov.au/Details/C1911A00018 | accessdate = 11 July 2015 |ref={{harvid|Commonwealth Bank Act|1911}}}}
- {{cite act| title = Commonwealth Bank Act 1920| number = 43| date = 30 November 1920| article = | articletype= | url = https://www.comlaw.gov.au/Details/C1920A00043/7550e3af-1cac-4f6f-8166-3a2a74fae10a | accessdate = 2 August 2015 |ref={{harvid|Commonwealth Bank Act|1920}} }}
{{Australian currency}}
{{Pound (currency)}}
{{Economy of Australia}}
Category:Banknotes of Australia
Category:Modern obsolete currencies
Category:1966 disestablishments in Australia