1933 Five Pound Riddle/Sheehan R44A about VF
| We Last Sold This Item For: | $1,050.00 |
|---|---|
| Last Sold On: | 5/6/2022 |
| # Sold In Past 12 Months: | 0 |
1933 Five Pound Riddle/Sheehan R44A about VF
Front: George V at left, national coat of arms at right
Back: Commerce scene in bas-relief at left
Period on Issue: December 14th 1933 ~ March 10th 1939
This Depression-era five pound had huge purchasing power when it was issued.
Following the advent of the Great Depression, Australia (and many other Western nations) went off the gold standard.
From mid 1933 onwards, Australia's circulating paper currency was "legal tender", rather than redeemable in gold coins.
The "Legal Tender" series of 4 pre-decimal banknotes shows the portrait of King George V on the front of the note, and the portrait of the Prince of Wales (later King Edward VIII) as a watermark.
The reverse of each of the "Legal Tender" banknotes features a sketch highlighting an important area of the Australian economy. The reverse of the Legal Tender five pound note depicts "Commerce".
There are two varieties of the Legal Tender Five Pound note - those featuring a "pink" face of King George V, and those featuring a "white" face of King George V.
This change in appearance is due to the removal of cross-hatching from the oval pane that contained the King's portrait.
As can be expected for a high denomination note that was issued at the very depths of the Great Depression, the Legal Tender Five Pound is incredibly hard to obtain in premium condition.
The average weekly wage in 1933 was just 4 pounds, and the unemployment rate was just shy of 20%. A five pound note was therefore a huge amount of money at that time then.
Just 11 million of these notes were printed, we can presume that the vast majority of them were worn through use and destroyed shortly after they were issued.
SKU: 3086
Browse our catalog of Five Pounds below:
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