Australia’s first banknote printed 100 years ago has gone on sale for $3.6 million

Andrea Divirgilio / May 9, 2013

In a rare revision of Australia’s economic history, the first bank-note printed over a 100 years ago has gone on the auction block for a price of A$3.6 million ($3.68 million). Though this year has seen currency land on the auction blocks in the form of coins such as the rare 1913 Liberty nickel, and the rare Islamic gold coins, this bank-note appears as something for a rarer pedigree, which means that price records are set to be broken for currency auctions in the time to come. Recent history dating to the year 2008, shows that this particular bank note actually had been the most expensive Australian bank note ever sold, by commanding A$1.8 million at an auction then. Numbered ‘M000001’, this was known to be the first note printed in 1913, and given as a gift to Judith Denman, the daughter of then Governor-General of Australia, Lord Deman, and has been under the family’s position for most it’s life.

This A$10 bank note was issued in 1913, and is known to be the first bank note of the country

The idea of printing a bank currency note came to then Prime Minister of Australia Andrew Fisher, who felt that there needed to be a national sense of identity, post the colonial era in the country. Hence came this note, which was valued as A$10, and then gifted to Judith Denman. Eventually it was almost lost in the belongings of Denman, before being discovered again 12 years after her death, found as a part of the clearance of her belongings.

This A$10 bank note was gifted to the daughter of the then Governor General of Australia Lord Denman

Much later in the year 2000, the note changed hands with a private Australian collector, who paid A$ 1 million for the currency note, and then finally in 2008, when another collector bought it for a price of A$ 1.9 million. At the event headed by dealer Coinworks, collectors will get an opportunity to own a sample of history, when Australia bought in a feeling of nation amongst it’s people, and accepted the entry into the Commonwealth nations. For those interested about currency and history of nations, do take a look at the most expensive coins list, which delves deeper into the importance of symbols similar to this Australian bank note.

Via: Paul Fraser Collectibles

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