1933 One Pound Riddle/Sheehan R28 Extremely Fine
| We Last Sold This Item For: | $810.00 |
|---|---|
| Last Sold On: | 15/11/2024 |
| # Sold In Past 12 Months: | 1 |
1933 One Pound Riddle/Sheehan R28 Extremely Fine
Front: George V facing at right
Back: Pastoral scene in bas-relief
Period on Issue: August 24th 1933 ~ September 1938
This depression-era pound has bright paper and minimal folding.
The Great Depression of 1929 brought about the end of the gold standard in Australia - all notes became "Legal Tender", meaning they couldn't be redeemed in gold coin at the Commonwealth Bank (the equivalent of the Reserve Bank back then).
Sir Ernest Riddle was Governor of the Commonwealth Bank of Australia between June 1st 1927 and February 28th 1938.
Sir Harry Sheehan was Secretary to the Commonwealth Treasury from April 29th 1932 until February 28th 1938.
£1 notes with this signature combination were issued over a shorter period than that - between August 24th 1933 and September 1938.
Nominal wage statistics from the ABS shows that £1 was slightly more than a day's wages in 1933 - equivalent to slightly more than $300 in today's money.
We can only imagine just how far that sum of money would have gone during the darkest days of Australia's most challenging economic period, so it's incredible to see something so valuable in original condition some 85 years after it was issued into circulation.
SKU: 2737
Browse our catalog of One Pound below:
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