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1934 R10 Ten Shilling Riddle/Sheehan good EF

1934 R10 Ten Shilling Riddle/Sheehan good EF

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Product ID:
P-12250

One centre fold and a quarter bend - a great note.

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Description:

Ten Shillings 1934 Riddle / Sheehan R# 10

Red overprint within borders

Serials: C/66 608973

Grade: good Extremely Fine


One centre fold and a quarter bend - a great note.

A comprehensive review of several aspects of Australia’s currency notes was conducted over several stages from the early 1920’s through to the early 1930’s. The most important of these changes was the switch from promising to pay the bearer in gold at the Head Office of the Commonwealth Bank of Australia, to stating that the notes were “Legal Tender” throughout the Commonwealth.

Rather than there being any concern about the acceptability of the new notes, newspaper reports from the days when the first legal tender ten shilling notes were introduced indicates that at least some members of the general public exchanged their gold-bearing notes for the newer ones so they could be among the first to see them!

This switch took place in several stages between July 1933 and October 1934 - the R9 ten shilling note was introduced into circulation in July 1933, while the R10 over-printed notes were introduced from April 1934.

Auction records show that this note sold via auction in June 2006 - at that time, it was graded as about Unc condition, and reached a hammer price of $8,300.

Whether the quarter bend (which is only visible from the back by the way) was evident then or not isn't clear.

What we do know however is that very few premium examples of this note survived the Great Depression - we believe this one is excellent buying.