Ten Pound 1927 Riddle/Heathershaw R# 55

Front: Australian Coat of Arms and portrait of King George V facing left

Back Design: Harvest Scene

Quality: good VF

Original body and paper, a wonderful example.

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 1960s 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 indicates that by October 23rd 1945, just 5,000 Treasury and Gold-Bearing Ten Pound notes were still outstanding. (More information on this may be gained from page 204 of Mick Vort Ronald’s definitive work “Australian Banknotes”.)

No wonder collectors find them so difficult to obtain over half a century later!

The first thing a collector notices when they handle a Gold Bearing Ten Pound note is the light texture of the paper.

They were printed on paper with a 1,500 MDF rating – KGVI notes had a 2,500 MDF rating, while our decimal notes had a 3,150 MDF rating.

These technical figures clearly show that the Gold Bearing notes were half as strong as our decimal notes.

When we consider that most decimal notes lasted for less than 2 years, we understand why there are so few Gold Bearing notes around today in high grade.

The example we offer here is completely original – it has great body, bright colours, intact edges and only a minor amount of folding through the body of the note.

The paper remains bold, wavy and original, the sheen that is still evident across both sides of the note is a testament to the originality of the note.

A cheaper note would not have anywhere near the same eye appeal or body, while a better grade note would cost 50% to 100% more.

Just how such a high-value note (it was equivalent to more than 2 weeks average wages back when it was issued) survived the Great Depression in such superb quality is an absolute marvel.

SKU: 3286