One Thousand Pound Banknote
|1914 – 1924||Collins/Allen – r70a||Blue prefix with black numbers
2A 000001 to 2A 052600
|1918 – 1945||Kell/Collins – r70b||Blue prefix with black numbers
2A 052601 to 2A 088585
The first signature combination
The Australian £1000 note was introduced at the outbreak of the First World War in 1914 because of the the hoarding of gold. The Australian Government saw the need for some other way of settling balances between the banks, apart from the physical transfer of the precious yellow metal.
A total of 88,585 Collins/Allen Thousand Pound Notes were printed, with 52,600 believed to have been released. They were available to the public until June, 1915. At that time, Denison Miller, Governor of the Commonwealth Bank advised Secretary of the Treasury Allen that there were ‘enormous risks’ arising from differences in colour, size and paper quality which offered little safeguard against forgery. His words were heeded and soon the notes ceased to circulate, to be used exclusively for the banks for exchange between themselves.
A check in 1921 revealed that several hundred noted were unaccounted for. By 1931, this number had fallen to 66. Most of the notes were destroyed in 1969. None are known to be in private hands. Cancelled specimens exist in a number of museums. There are reports that in September, 1964, a £1000 note was donated to Reverend Sir Irving Benson of the Methodist Central Mission. Although unconfirmed, it is said to have been acquired by a private Melbourne collector.
Surviving examples of this note have been limited to a few cancelled specimens held in Bank, Museum and Gallery collections. This was until one of these notes, a cancelled specimen with the serial number 2A 058383 was auctioned by Noble Numismatics in their Melbourne July 1998 sale. It sold for $94,000. The note is perforated with the word “Cancelled” twice and also four larger cancellation holes. It is graded as “good Very Fine” with thinning from gum attached at an earlier time.
The second [unsigned specimen] note
The Commonwealth Bank’s Notes Board decided to introduce a new design for the One Thousand Pound note in 1922. A specimen for the note was made in England in 1923. In 1928, the board decided not to proceed with the new note. The specimen remained unknown until it surfaced and was sold for the record price of $250,000 in 1994.
Lot 200 at the International Auction Galleries Auction 68 held on 21st September, 2008 was a One Thousand Pound Unissued Secimen 1923 – 1928 Type II banknote – in VF grading – which realised a price of $890,000
On Saturday 8th of February 2014, an auction held by Roxbury’s Auction House it was listed with a very low estimate of $250,000 and was passed in, failing to reach its much higher reserve price. As reported by The Sydney Morning Herald on the 19th of Feb 2014.
The second signature combination
A total of 35,985 Kell/Collins Thousand Pound Noted were printed. They were not available to the public, the banks were the exclusive users of the notes for exchange between themselves. The 1914-1925 design notes continued to be used for settlements between banks and within the departments of the Reserve Bank of Australia after its establishment in 1961. In 1969 changed accounting procedures meant that the notes were no longer required and the remaining 29,000 notes were destroyed.
- £20 – 506
- £50 – 2,830
- £100 – 2,146
- £1,000 – 317
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