Private Bank Issues

Lot 1602       Private Bank Issues

Estimate $1,200
Bid at live.noble.com.au
SOLD $2,900

THE ROYAL BANK OF AUSTRALIA, five pounds, Launceston, not dated, (18 printed), proof, not signed, printed on unwatermarked paper, with imprint on centre of bottom, 'Perkins Bacon & Petch London, Patent Hardened Steel Plate', with vignette of modified Royal Arms with supporters and St. Andrew, value within oval left and right and in decorative floral border to left, all within rectangular spiral border, states on front of note, 'Promise to pay the Bearer on demand at Launceston FIVE POUNDS Sterling.' blue on white, (Vort-Ronald, p.210-212 on bank, similar One Pound note illustrated as Fig. 218 on p.210). Folds and creases, with unobtrusive rust holes lower left, a little aging tone, some ink smudging on the back, otherwise nearly very fine and very rare, especially for this city.

This proof issue of (new) The Royal Bank of Australia (1888-1927), is of some interest particularly as it utilised the same vignette and has some similarity in style to the defunct earlier Royal Bank of Australia (1840-1850), (see the example earlier in this sale). This new Royal Bank of Australia, remained small and conducted business in a cautious manner, consequently it survived the banking crises and crashes in the 1890's. It was eventually taken over by the E.S. & A bank in 1927. Three five pound printer's proof, stamped SPECIMEN were sold by Spink in May 1995 from the Perkin Bacon Archives, but these came from Sydney, Melbourne and Adelaide, and all were on cards rather than paper. Launceston appears to be unrecorded.