Promissory Notes

Lot 2624    SESSION 9 - 4.30PM Wednesday 30 July    Promissory Notes

Estimate $2,000
Bid at live.noble.com.au
SOLD $1,200

R.B.COLLEY, Adelaide, Two shillings and sixpence, currency note, November 3, 1852 (1852 printed), no. 502, on uncertain watermarked paper, signed by R.B.Colley, and on behalf of the Bank of South Australia D.Melville (?), stating on front 'Silver Notes, Issued upon Capital only, In consideration of TWO SHILLINGS AND SIXPENCE paid me by ..... I Promise to Pay Him or Bearer, on Demand, the sum of TWO SHILLINGS AND SIXPENCE in Bank Notes of this Province, on presentation of any number of these Orders amounting to even Pounds, here; or to not less than Five Pounds at the Bank of South Australia.' A further endorsement follows from the bank and signed, black on white (Vort Ronald p.20, Fig. 24, illustrates a similar example, type illustrated Vort Ronald..Shinplaster..p.33). Some folds and creases, minor discolouration on front and back, otherwise good fine and extremely rare.

Ex Noble Numismatics Sale 49 (lot 1621) and previously from Spink Noble Sale 36 (lot 2685).

This silver note was designed to fill the gap between the low denomination notes like the Temple Tavern twopence and the gold pound. The wording on this note is different from most earlier notes by indicating that it is not a note without backing but issued upon Capital only. The base of the note further certifies that there are funds lodged in the Bank of South Australia to meet this note, provided it is presented on or before the 1st day of September 1854. Not much is known of Richard Bowen Colley except that he was born in England in 1820 and died at Glenelg in 1875. He reached Adelaide in 1848 and was mayor of Glenelg in 1856. By profession he appears to have been an accountant and was auditor of the Corporation of the City of Adelaide for some years. The 'Silver Notes' that Colley issued were for 2/6, 5/- and 10/- and were issued between September and December 1852 to a value of £5,000. Another interesting historical note issued in a year and place important to Australian numismatics.