Australia oldest paper money will be auction in Sydney later this month. The ten shilling note, issued on the order of the New South Wales Governor in 1817 by the Bank of New South Wales (now Westpac) on the day the bank opened, is expected to attract bids from investors and collectors around the world. The private bank issue note is expected to fetch AUD$250,000.
The paper money will be one of the highlight in Noble Numismatics Auction, Important Australian & World Coins, Tokens, Medals & Banknotes on 25–27 March 2014 at the Dixson Room, State Library of NSW, Sydney.
"BANK OF NEW SOUTH WALES, ten shillings, Sydney, 8 April 1817, No 55, imprint S.Clayton Sculptr, payable to J.Lee or bearer, signed E.S.Hall Cashier, Entd. R.Campbell Jun., signed by directors J.Harris and R.Jenkins (MVR type 1a), tablet on back with legend. Printed at the office of the Sydney Gazette."
The only known specimen of the first official banknote issued in Australia was uncovered in a private collection in Scotland.
“We have put a conservative estimate of a quarter of a million dollars on it in the catalogue,” said Jim Noble of Noble Numismatics.
“But there has been such excitement over its condition, rarity and major historical significance that it’s impossible to guess what it will make.
“Even Westpac itself doesn’t have one and all the experts believed none had survived.”
Australia 1st banknote worth 10 shillings printed in 1913 and numbered M000001 is currently for sale by Coinworks Australia for AUD$3.5 million. It last sold in 2008 for $1.909 million.
