Australian – Pre Federation Banknote
The Commercial Banking Company of Sydney Ltd (1824-1981)
1896 Issued One Pound Note
Printed by Bradbury, Wilkinson & Co Ltd Engravers, London
Serial # E842490
Graded: near Very Fine
Colonial Banknote Issues
When the First Fleet arrived in Australia in 1788, no provision had been made to supply the colony with a currency of any form. The only means of trade was a barter system which was difficult to keep under control and eventually threatened the survival of the NSW colony. As such, one of Governor Macquarie’s first priorities was to set about establishing a people’s bank, the ‘Bank of New South Wales’ which was established in 1817. The influx of immigrants coming to Australia seeking fortune with the discovery of gold in the mid 1850’s brought about a boom of private banks throughout the settlements. The newly established banks introduced their own legal tender paper notes, many of which were large and elaborately engraved to discourage forgery. Prior to the financial crash of 1889 and the subsequent foreclosure of many banks, these splendid banknotes were widely used and traded throughout the colonies.
Today, Pre Federation Banknotes form part of Australia’s earliest currency history and are highly prized for their numismatic history, genuine rarity and strong investment potential.
This 1896 Commercial Banking Company of Sydney Issued One Pound Note is one of the finest examples in its category.