1918 Five Pound Cerutty/Collins R37b Extremely Fine
Assistant Treasury: Charles John Cerutty
Secretary to the Treasury: James Richard Collins
Date Range on Issue: December 1918 through to February 1924
Lot #2126, Noble Numismatics Auction 26 (November 1988). Estimate: $3,000, Hammer: $2,900, Nett: $2,900.
Lot #3065, Noble Numismatics Auction 66 (March 2001). Estimate: $4,000, Hammer: $13,300, Nett: $15,495.
Lot #191, International Auction Galleries Auction 67 (March 2008). Estimate: $35,000, Hammer: $44,000, Nett: $51,260.
Lot #777, Roxbury's Auction 75 (May 2009). Passed in at an estimate of $43,000.
Lot #188, International Auction Galleries Auction 72 (September 2010). Estimate: $42,000, Hammer: $36,000, Nett: $41,940.
Equal to the finest known examples.
The "Treasury" series note series (those notes printed in this style between 1913 and 1921) includes several rare varieties that are incredibly hard to get in any condition.
The Cerutty Collins notes issued from 1918 are the most readily available of them, and are always keenly sought in premium grade by type collectors.
It's always remarkable to see high-value notes from the early part of the 20th century in better than average condition, and this note is no exception.
As the images here show, the note retains attractive colour, has straight edges and sharp corners.
Our research into the market for the R37b shows that this is one of only 2 examples seen at auction in Extremely Fine condition since at least 2005.
As the provenance above shows, it was last seen at auction in September 2010, the only other example sighted was seen in September 2007.
The quality of this note is better than most of those included in the "named" collections of Australian banknotes - it is equal to the note in the Mick Vort-Ronald collection, and is superior to those held by Deutscher; Nicholson and Williams.
It is certainly worthy of consideration in the finest collections of Australian pre-decimal notes.
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