1934 Ten Pound Riddle/Sheehan R57F PCGS VF25
We Last Sold This Item For: | $875.00 |
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Last Sold On: | 4/6/2022 |
# Sold In Past 12 Months: | 0 |
1934 Ten Pound Riddle/Sheehan R57F PCGS VF25
Front: Facing portrait of King George V at centre
Back: Agricultural scene in bas relief at centre
Period on Issue: October 8th 1934 ~ June 1940
This presentable KGV legal tender note had huge purchasing power during the Depression.
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 Legal Tender ten pound notes featuring the signatures of Riddle and Sheehan were released into circulation from October 8th 1934, and were superseded by the King George VI notes signed by Sheehan and McFarlane from June 1940.
Nominal wage statistics from the ABS shows that £10 was equivalent to around two and a half week's wages in 1934 - equivalent to around $3,920 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 intact nearly 9 decades after it was issued into circulation.
Click the PCGS icon below to verify the certificate details for this note directly on the PCGS website.
PCGS Certificate Number: 43703102
SKU: 3308
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