Collecting Australian banknotes is a popular pass time with many, sometimes for pleasure and frequently as an
investment for the future.
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The passing of the Australian Notes Act of 1910, which assigned responsibility for the issue of banknotes to the Commonwealth Treasury, however, made it an offence for any bank to circulate banknotes issued by a State and withdrew their status as legal tender. Further, the issuing of banknotes by private banks was effectively discouraged by the Bank Notes Tax Act, also of 1910, which imposed a tax of 10 per cent per annum on all banknotes issued.
For the first three years following the Australian Notes Act coming into force, some of the earlier private banknotes were overprinted by the Treasury as a temporary measure and circulated as Australian banknotes until new designs were ready for Australia's first federal government-issued banknotes.
The first printing works to produce the new banknotes was situated near the docks at the western end of Flinders Street in Melbourne and in 1912 Thomas Samuel Harrison, an Englishman with extensive knowledge and experience in the field of security printing, was appointed Australia's first banknote printer. After a busy year acquiring machinery and setting up production facilities, Harrison had the first Australian banknote – of ten shillings denomination – ready for numbering on 1 May 1913.(extract from the Reserve Bank’s “ History of Banknotes)
Banknote Grading
Very Good (VG) – is generally a well used note still intact but soiled. No missing pieces but can still have rounded corners and tears can extend into the design. May be limp but still have a not unatractive appearance
Fine (F) – A well circulated note showing many folds & creases or wrinkling but not excessively soiled
Very Fine (VF) – A circulated note showing folds and some signs of wear. Paper reasonably clean & crisp
Extremely Fine (EF) – a pleasant looking note with evidence of light handling, may have up to three light vertical folds or one heavy vertical fold. May include slight edge wear, corner rounding or pinholes. Pinholes should be noted in any description of a note. Pinholes do not change the grade of a note but do affect the value and appearance of the note
Almost Uncirculated (aUNC) – An almost perfect note except for handling marks & very minor imperfections & may have one very light banker’s fold & teller’s counting flicks.
Uncirculated (UNC) – A perfect note in brand new flat condition. Peper crisp with original natural sheen without discolouration.
Produced by the Royal Australian Mint and the Reserve Bank, this special Bicentennial Collection comprises three proof coins and three banknotes in an.....
