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1953 One Pound Star Note Coombs/Wilson Commonwealth Bank R33s Uncirculated

1953 One Pound Star Note Coombs/Wilson Commonwealth Bank R33s Uncirculated

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Product ID:
P-12761

Fantastic body, impeccable Uncirculated quality

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Description:

1953 One Pound Star Note Coombs/Wilson Commonwealth Bank R33s Uncirculated

Type: Commonwealth Bank

Signatures: Coombs / Wilson

Quality: Uncirculated


Fantastic body, impeccable Uncirculated quality.

Note printing authorities in Australia decided to adopt the US system  of using star replacement notes as substitutes for spoiled notes from September 1948. A memo to Commonwealth Bank staff advised them that: "Notes used for replacement purposes will have a five-pointed star in the position normally occupied by the last figure of the serial number."

The star replacement system made it easier for printing staff and tellers to check and count notes and brought about a considerable saving in time and labour costs.

The Reserve Bank of Australia was brought into being in 1960, so any Queen Elizabeth II star replacement notes issued with the Commonwealth Bank designation were printed and issued between 1953 and 1960.

The exact mintage figure of this note is not known, however research by Mick Vort Ronald indicates that it is in the region of 9 million notes. While that number does seem to be staggeringly high, we must keep in mind that more than half a billion Commonwealth Bank £1 notes were printed during the reign of Queen Elizabeth II. (Yes that number does start with a B!) This means that the R33s star replacement notes are 300 times rarer than the standard R33 £1 notes that they replaced.

This note retains fantastic paper quality - it remains crisp and is very strong. The simultan and intaglio colours remain bold, bright and original. It is entirely devoid of any flicks, folds or bends - it easily makes the Uncirculated quality designation.

Although the market for pre-decimal star replacement notes has not been robust over the past 12 months, our research into this note shows that it is one of perhaps just two or three R33s notes in this quality seen at auction over the past decade at least

It is a rare and historic note, and is worthy of the finest collection of Australian currency notes.