The Provincial and Surban Bank (P&S Bank) opened for business on November 26th, 1872 at 165 Smith Street in Collingwood (Melbourne, Victoria). Three years of poor results right from the outset meant that a portion of the P&S Bank's capital had to be written off not long after it was established.
Management then changed to Mr Richard Willis, a gentleman who until that stage in his career had apparently been a cordial manufacturer. With a background such as that, it is perhaps unsurprising that it was proven later that Willis was "ignorant of even...read more
The Western Australian Bank (WAB) was established under a deed of settlement in Perth on June 23rd, 1841 by a small number of influential pastoralists and merchants in the Swan River Colony that were shareholders in the Bank of Western Australia (BWA). The first directors of the WAB included George Shenton Senior and Edward Hamersley Senior.... read more
To many collectors, 2013 marks a hundred years since Australia’s first notes were issued. The “Treasury” series of Commonwealth notes have long been regarded by the vast majority of Australian note collectors as the first notes issued by Australia’s Commonwealth government.
Knowledgable collectors are aware that the Treasury notes are not the first - the Type I superscribed notes that were issued from 1910 is the first series of Australian notes issued under the authority of the Commonwealth government.
Our superscribed series notes are misunderstood and under-appreciated by the majority of Australian note collectors for a number of reasons:
- Their appearance is very...
The general public today is quite used to seeing our notes printed with uniform serial numbers - nearly all Australian notes issued since 1988 feature a four-digit prefix and a six-digit serial number. Australians in the early 1900's had no such luxury, as there were 10 different varieties of the ten-shilling note alone in Australia's first decade of a national paper currency.
The Commonwealth Treasury initially underestimated the economic demand for Australia's currency notes, and the level of their underestimation can be seen in the numerous changes to the serial numbering format of Australia's first notes. Mick Vort-Ronald is undoubtedly Australia's pre-eminent author on banknotes, and on page 46 in his definitive work “Australian Banknotes”, he observes that Australia's ten-shilling...read more
Most collectors working towards a complete type set of pre decimal notes start at the easiest end and work back – from the more readily available Queen Elizabeth (QEII) notes from the 1960’s to those issued before World War I.
The first really tough note these collectors come across is the Gold Bearing Ten Pound of the 1920’s – all of the QEII notes, King George VI notes and smaller denominations in the Gold Bearing series may be sourced with patience, while the total number of ten pound notes from the Treasury and Gold Bearing series is so small that some collectors will take them in any condition they can get.
Reserve Bank of Australia records indicate that by October 23rd...read more
On the 6th of June in 1923, the first of Australia’s new “Harrison” or “gold bearing” series banknotes were issued into circulation. Shortly after the notes were released, Treasury decided to alter the design of the front of the note very slightly by removing the name of the person responsible for engraving the printing plates. Unfortunately, the general public wasn’t informed of this minor change, and there was something of a panic - many folks simply refused to accept them.
Research by the eminent numismatist, Dr Alan Nicholson, has shown that at the same time Treasury decided upon this change, they had also identified a potential problem - some of the serials being used on the new notes had actually already been used on the Type I Superscribed £1 notes, issued between 1910 and 1914. This could...read more