1933 Ten Shilling Riddle/Sheehan R9 Very Fine
| We Last Sold This Item For: | $950.00 |
|---|---|
| Last Sold On: | 4/8/2021 |
| # Sold In Past 12 Months: | 0 |
1933 Ten Shilling Riddle/Sheehan R9 Very Fine
Front: King George V at right, watermark of Edward VIII in pane at left
Back: Manufacturing scene in bas-relief
Period on Issue: July 17th 1933 ~ March 12th 1934
This is an intact example of the first ten-shilling note issued during the Great Depression.
1933 really was the depth of the Great Depression here in Australia - unemployment was at its worst, and the Commonwealth Treasury switched our national currency from one backed by gold, to the Legal Tender standard.
The R9 ten-shilling was the first denomination in the new legal tender series to be released - it was first seen on July 17th, 1933. While there was no rioting in the streets by the common man in protest over the switch away from the stability of the gold standard, there was keen interest in the watermark used on the new note.
Newspaper reports on the day describe the enthusiastic reception the ten-shilling note received: "Many people who were anxious to see the new design changed other notes into 10/- ones. One of the first acts of most of the recipients of the new notes was to hold them up to the light to look through the oval space, or "window," as it is termed, to see the watermark profile of the Prince of Wales."
The new notes were short-lived however, a revised design (the R10, featuring a red overprint) was introduced from April 1934, in order to more explicitly indicate that the note had ten shillings in value.
As the ten-shilling note was the most heavily circulated note in the pre-decimal series, the survival rate of short-lived notes such as the R9 are extremely low in decent condition.
This note has been pressed by a previous owner but retains strong paper, as well as intact edges and corners. No pinholes are evident, it remains a solid example of the first type of ten-shilling note issued during the Great Depression.
SKU: 2355
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