1934 R10 Ten Shilling Riddle/Sheehan good Fine
| We Last Sold This Item For: | $600.00 |
|---|---|
| Last Sold On: | 3/6/2024 |
| # Sold In Past 12 Months: | 1 |
1934 Ten Shilling Riddle/Sheehan R10 good Fine
Front: George V at left, national coat of arms at right
Back: Manufacture scene in bas-relief at centre
Period on Issue: April 13th 1934 ~ March 1936
This is an honest example of a Depression-era ten bob note.
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).
The ten shilling was the first "legal tender" denomination introduced into circulation (July 17th, 1933), and within a month there was an outcry - some members of the general public were confusing them with the £1 notes of the same basic design and size. Losing ten bob then was a big deal - most people were lucky to have a job at all and it was equivalent to about half a day's wages.
To fix the problem, the government decided print "TEN SHILLINGS" in red ink in the top, left and right borders, and they were introduced on April 13th, 1934. This still wasn't a big enough difference for some, so the intaglio colour was changed to a vivid orange in March of 1936.
Not only was the mintage of this note extremely low, they had such high purchasing power that most people had to spend them - they are nearly all seen in fairly low grade.
SKU: 20870
Browse our catalog of Ten Shillings below:
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