RENNIKS NUMBERS: R65b
Denomination: Twenty Pound.
Serial number: 269088 x.
Definition: Bold serial numbers. Suffix x.
Grade: VERY FINE AUSTRALIAN NUMISMATIC GRADING STANDARD. INTERNATIONAL GRADING: PMG(PAPER MONEY GUARANTY) GRADED 25 VERY FINE. PICK NUMBER #7c R65b,
ND (1918) TWENTY POUND.
PRINTER: TS .HARRISON- COMMONWEALTH GOVERNMENT PRINTER.
THE GRADE OF VERY FINE(WITH MINOR REPAIRS). THIS BEAUTIFUL BANKNOTE HAVING NOW BEEN GRADED BY PMG. A NAME RESPECTED BY COLLECTORS & INVESTORS. TRN PLATINUM MEMBERS.
RR: $82500.00. SOURCE RENNIKS 28TH EDITION COIN/BANKNOTE CATALOGUE .2018
SALE PRICE: $42500.00.
SAVE: $40000.00. ALL SERIOUS PURCHASERS PLEASE PROCEED TO “MANAGE OFFERS”
THE RIGHT NOTE ACTING ON BEHALF OF OUR VENDOR. ARE PLACING THIS BANKNOTE @ WWW.THERIGHTNOTE.COM.AU .
By definition of rarity, this banknote is best described as extremely rare in Australian numismatic history. It is only once in a generation, banknotes of denominations above twenty pound ever come onto the Australian/international market. THERE IS NO OTHER R65 LISTING ON THE INTERNET WITH A VERIFIED GRADE OF VERY FINE.
A complete history of Australian twenty pound banknote-general issued banknote circa 1914-1918. PLEASE GO TO WWW.THERIGHTNOTE.COM.AU AUSTRALIAS LEADING INTERNATIONAL NUMISMATIC SPECIALIST.
Signature combination: Cerutty/Collins.
Renniks number: R65b.
Source: Renniks 26th Edition 2016
Fig. 229. Serial numbers, Collins-Allen £20-0-0 (V.55).
X 000001 to possibly X 040743.
A record of Notes Printed held in the Archives of the Reserve Bank of Australia, originally Commonwealth Bank of Australia, states the first notes were delivered to the Treasury on 5 June 1914. The last notes sent to the Treasury in 1914 were delivered on 7 July 1914, and concluded with the serial number X 040743.
No further notes were sent to the Treasury until 1917. It is possible that this gap in production may represent the dividing line between this and the next
signature combination. The highest serial number of this signature combination observed to date is X 033124.
Printed: Possibly 40,743.
C. J. Cerutty Assistant Secretary.
Jas. R. Collins Secretary to the Treasury.
Signatures in blue.
Fig. 230. Signatures and titles, Cerutty-Collins £20-0-0 (V.56).
Fig. 231. Serial numbers, Cerutty-Collins £20-0-0 (V.56a).
(a) Small black seriffed serial numbers, prefix X.
After 1914 no notes of this denomination were delivered to the Treasury until 9 May 1917. That day may represent the commencement of this variety.
Serial numbers: Possibly from X 040744 to X 167283.
Printed: Possibly 126,539.
Fig. 232. Serial numbers, Cerutty-Collins £20-0-0 (V.56b).
(b) Bold black serial numbers, suffix X.
The first notes with serial numbers and suffix X were delivered to the Note Issue Branch on 10 March 1924 and the last serial number of this variety was delivered on 8 May 1924.
Serial numbers: 167284 X to 421500 X.
A reconciliation of the £20 notes in circulation at the close of business on 30 August 1950, appears below:
|Received from printer||464,700|
|Less (the following)|
|Cancelled and burnt by N.I.B.||407,2001/2|
|By Overseas Banks||—|
|Burnt direct from stock||56,900|
|“Deemed burnt” (by accident)||8|
|Given out as specimens||19|
|Held as specimens||195|
|Cancelled notes held at Fitzroy||6|
|Notes in circulation||3711/2|
The notes were last issued in 1938 and continued in circulation until their withdrawal commenced in 1945.
At the end of June 1950, only 380 £20 notes were recorded as still being in circulation. After then, notes were “written off the books if not redeemed within 40 years of issue. Thus the official “Monthly Statistics” thereafter showed a continual decline in the numbers outstanding so that now there are, in theory, none outstanding. There could actually be up to 380, but this total would be greatly reduced by lost or destroyed notes.
On 30 April 1945, all notes of the Bank of England in denominations of £10 and upwards were called in. They ceased to be legal tender in the United Kingdom from 1 May 1945, but were still payable at the Bank of England. £5 notes dated previous to 2 September 1944 were called in on 28 February 1946, and ceased to be legal tender from 1 March 1946, but were still payable at the Bank of England.
Holders of these notes in Australia were advised to lodge them with Australian banks for despatch to the Bank of England for payment, after which they were to be paid for the notes. Denominations of 107- and £1 were not affected.
The notes were withdrawn because of the forgery in Germany of £5 and other high sum Bank of England notes during the war. This was done on a wide scale and some of the forgeries reached England. There was also a desirability for exchange control reasons, to isolate notes circulating abroad, especially if and when postal censorship with European countries were relaxed.
The “Australasian Insurance and Banking Record” of 1945 foreshadowed high denomination withdrawal in Australia:
“In order to control black marketing, tax evasions, large-scale betting and other illicit transactions, and to prevent note hoarding, and to direct money so hoarded into the savings banks or Government loans, the Commonwealth Government is seriously considering recalling all bank notes over £5 denomination. If hoarding and other evils continue consideration will be given to the systematic replacement of the existing note issue with new notes, with a proviso that the old currency would cease to be legal tender after a given date, of which due notice would be given…”
Accordingly, the Australian Government gazetted in May 1945 a National Security Regulation which stated that after 31 August 1945, denominations of £20 and upwards would cease to be legal tender. This regulation never became operative. Before the date on which it was to take affect, the regulation was overridden by the amending Commonwealth Bank Act under which all Australian notes were legal tender.
The regulation was not re-enacted. Between May 1945 and the passing of the Commonwealth Bank Act (1945), the Treasury’s purposes had been substantially achieved.
Nearly 75,000 high denomination notes totalling £5,700,000 were brought out of hiding places and safety deposit boxes and lodged in banks. At the end of 1945 the following notes were still unpresented: £20- 506. £50- 2,830. £100- 2,146. £1,000- 317.
£20-0-0 notes printed per month. Source — Note Printing Register.
|Date taken into strongroom||Number commenced||
Note Printing Registers with further details not yet available. Large gaps in months quoted represent gaps in printing.
Reference source material:
Australian Banknotes. Second Edition: 1983. Author: Mr. M P. Vort Ronald.
Titled: Australian banknotes. “Distinctive Australian government issues 1913-1966.”
Additional source material: RE Fahy Pty Ltd trading as The Right Note historical and research department. 2014.
Source: Renniks 26th Edition 2016