Lot 4874

Description

One pound, Miller/Collins (1923), issued Specimen note, with numbers H/36 823016, serial number in black and signatures in green, watermarked basketweave pattern around edges '£1' '£1' above 'Commonwealth' below 'of Australia'. The note is perforated with the word 'Cancelled' (153 mm long) an upset cancellation, with 22mm high letters, two holes 9mm in diameter to left of the note and with 1mm black diagonal lines on both sides of the note, (R.23a, Vort-Ronald 20c, McDonald 36). Crisp, nearly uncirculated and of the utmost rarity, the only specimen note of this type ever offered at auction.

A total of 50,965,400 were printed with this signature combination without Harrison imprint. This number is recorded as part of a group of 18 numbers used for specimen notes (p.74 Vort-Ronald). It is a unique combination of the second type cancellation for 'Cancelled' with the additional diagonal line cancellation used in the fourth specimen cancellation. It suggests the note was initially cancelled as a Specimen note in the mid 1920's and recancelled with the diagonals characteristic of Specimen issues from the 1936 notes similar to the other George V specimen notes in this sale. Michael Vort-Ronald discussed this issue in 'Australian Banknotes' on pages 71-75 in chapter 7 on Specimen notes and pages 138-143 on the one pound note issue.