Australian Pre Decimal Star* Banknotes (PAIR).
Banknote Description: One Pound.
Commonwealth Bank Circa 1954
Serial Numbers: HC96 05627/28.
RR: $35000.00. Source Renniks 28th edition 2018.
One Pound. Signature combination Coombs/Wilson circa 1961.
This banknote is a pre decimal One Pound star* banknote replacement. The definition of a star* note, is they were a copies idea from the USA, and these star* notes were used to replace lost or damaged banknotes in the printing process. This process was discounted in Australia in 1972 with computerization of the entire printing process.
The grade of this banknote is Uncirculated the serial numbers are: HC/96 05627/28.
The obverse side of the banknote of all One Pound Australian banknotes from 1954-1966 featured the portrait of Queen Elizabeth II -left facing, in the watermark appeared Captain James Cook. On the reverse side of the note appeared bas-reliefs of Charles Sturt (1796-1869). Explorer travelled and discovered inland rivers in 1829. (Left). Hamilton Hume (1997-1869) Explorer travelled to Port Phillip 1824. (Right).
Star*banknotes were continued from 1942 until 1972, the printing of star* notes was straightforward. A separate printing run was established for star* banknotes to replace damaged banknotes. The process was initiated by The Commonwealth Bank, the then sole government authority for the printing, distribution and circulation of all Australian currency. In 1959 The Reserve Act was introduced and passed by the Australian parliament, that Australian currency both banknotes and coins be printed/minted by The Reserve Bank, or under their direct guidance. The Reserve Bank was officially appointed as Australia’s only legal authority to produce all banknotes, a role it has held up to this day.