Sorry! This Colonial Bank of Australasia (Melbourne) 1893 One Pound Issued Note MVR# 3a Fine has sold.

Colonial Bank of Australasia (Melbourne) 1893 One Pound Issued Note MVR# 3a Fine

Serial Number: 058386

Provenance:

Lot #689, Noble Numismatics Auction 6 (November 1981). Estimate: $1,000, Hammer: $1,800, Nett: $1,800.


This is one of just 6 issued notes from this bank that remain in existence - this was issued just weeks after the 1893 Banking Crisis.

When it was published in the Melbourne newspapers in 1855, the prospectus of the Colonial Bank of Australasia openly stated that it intended to compete against each of the existing banks that had been established in England. The bank's backers underlined the fact that not only would the Colonial Bank of Australasia be owned and headquartered in the colony of Victoria, it would also be focusing on promoting trade within the colony of Victoria - something in the spirit of "by the people, for the people."

The following text is extracted from their initial advertising for the bank:

"The principal Banking Establishments in Victoria have hitherto derived immense profits payable chiefly to a foreign proprietary, though purely resulting from a local trade, carried on with the funds of the Colonists themselves. This consideration leads to the conviction that the Colonists of Victoria are in a position to enjoy, and ought; to receive, whatever advantages can be received from the employment of their own capital. The projectors have accordingly decided upon the establishment of a New Bank, to be conducted upon the Scottish principle, on a sound, judicious and liberal system, and which, shall be pre-eminently a Bank for the People, under the title of "The Colonial Bank of Australasia."

The Colonial Bank of Australasia was incorporated by Act of Council in Victoria on 19 March 1856.

Across the subsequent decades, the Colonial Bank of Australasia established dozens of branches right across Victoria.

The financial crisis of 1893 caused a run on the bank and it received assistance from the other banks and the Government. Despite this, it was unable to remain open and suspended on 6 May 1893. The bank was reconstructed and was incorporated on 1 July. It re-opened on 10 July 1893 as the Colonial Bank of Australia Limited. At that time the bank had no foreign depositors, its business and accounts were conducted wholly within Victoria.

This particular note is dated August 1st 1893, which is just 3 weeks after the bank re-opened following reconstruction.

The body of this note remains largely intact - there are several tiny gaps in the paper where the note has circulated for such an extended period of time, the edges are largely intact.

It is incredible to think that the last time it appeared at auction was way back in 1981. To put the appeal of this note in perspective, it made a higher hammer price than a five pound superscribed note that was in the same auction.

It remains an incredibly rare memento of the heady days following the banking crisis of 1893. 

SKU: 209020

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National Bank of Australasia (Adelaide) 1893 50 Pounds Unissued Colour Trial Specimen MVR# 4 Uncirculated National Bank of Australasia (Adelaide) 1893 50 Pounds Unissued Colour Trial Specimen MVR# 4 Uncirculated National Bank of Australasia (Adelaide) 1893 50 Pounds Unissued Colour Trial Specimen MVR# 4 Uncirculated $3,250.00
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National Bank of Australasia (Adelaide) 1904 1 Pound Unissued Specimen Note MVR# 4a about Unc National Bank of Australasia (Adelaide) 1904 1 Pound Unissued Specimen Note MVR# 4a about Unc National Bank of Australasia (Adelaide) 1904 1 Pound Unissued Specimen Note MVR# 4a about Unc $2,500.00
Last sold for this price on 5/10/2023
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National Bank of Australasia (Melbourne) 1891 Ten Pounds Unissued Specimen Note MVR# 4m Uncirculated National Bank of Australasia (Melbourne) 1891 Ten Pounds Unissued Specimen Note MVR# 4m Uncirculated National Bank of Australasia (Melbourne) 1891 Ten Pounds Unissued Specimen Note MVR# 4m Uncirculated $3,000.00
Last sold for this price on 2/7/2023
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National Bank of Australasia (Melbourne) 1893 One Pound Unissued Specimen Note MVR# 4m Uncirculated National Bank of Australasia (Melbourne) 1893 One Pound Unissued Specimen Note MVR# 4m Uncirculated National Bank of Australasia (Melbourne) 1893 One Pound Unissued Specimen Note MVR# 4m Uncirculated $2,500.00
Last sold for this price on 20/2/2024
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National Bank of Australasia (Melbourne) 1910 Five Pounds Unissued Specimen Note MVR# 4b Uncirculated National Bank of Australasia (Melbourne) 1910 Five Pounds Unissued Specimen Note MVR# 4b Uncirculated National Bank of Australasia (Melbourne) 1910 Five Pounds Unissued Specimen Note MVR# 4b Uncirculated $3,000.00
Last sold for this price on 23/12/2020
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National Bank of Australasia (Melbourne) 1910 One Pound Unissued Specimen Note MVR# 4m good EF National Bank of Australasia (Melbourne) 1910 One Pound Unissued Specimen Note MVR# 4m good EF National Bank of Australasia (Melbourne) 1910 One Pound Unissued Specimen Note MVR# 4m good EF $1,750.00
Last sold for this price on 10/10/2024
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National Bank of Australasia (Perth) 1876 50 Pounds Unissued Printer's Proof MVR# 4a EF National Bank of Australasia (Perth) 1876 50 Pounds Unissued Printer's Proof MVR# 4a EF National Bank of Australasia (Perth) 1876 50 Pounds Unissued Printer's Proof MVR# 4a EF $1,250.00
Last sold for this price on 1/1/2023
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National Bank of Australasia (Perth) 1893 One Pound Unissued Specimen Note MVR# 4 Uncirculated National Bank of Australasia (Perth) 1893 One Pound Unissued Specimen Note MVR# 4 Uncirculated National Bank of Australasia (Perth) 1893 One Pound Unissued Specimen Note MVR# 4 Uncirculated $3,000.00
Last sold for this price on 23/12/2020
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National Bank of Australasia (Sydney) 1895 5 Pounds Unissued Specimen Note MVR# 4b Uncirculated National Bank of Australasia (Sydney) 1895 5 Pounds Unissued Specimen Note MVR# 4b Uncirculated National Bank of Australasia (Sydney) 1895 5 Pounds Unissued Specimen Note MVR# 4b Uncirculated $2,400.00
Last sold for this price on 17/10/2023
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Provincial And Suburban Bank Unissued Five Pounds Victoria 18-- MVR#2a good VF Provincial And Suburban Bank Unissued Five Pounds Victoria 18-- MVR#2a good VF Provincial And Suburban Bank Unissued Five Pounds Victoria 18-- MVR#2a good VF $950.00
Last sold for this price on 7/12/2019
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The Royal Bank of Australia (Sydney) ca 1842 2 Pounds Printer's Proof MVR# 1 good EF The Royal Bank of Australia (Sydney) ca 1842 2 Pounds Printer's Proof MVR# 1 good EF The Royal Bank of Australia (Sydney) ca 1842 2 Pounds Printer's Proof MVR# 1 good EF $1,650.00
Last sold for this price on 9/2/2020
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Union Bank of Australasia 1852 20 Pound Printer's Proof Printer's Proof MVR 1 Very Fine Union Bank of Australasia 1852 20 Pound Printer's Proof Printer's Proof MVR 1 Very Fine Union Bank of Australasia 1852 20 Pound Printer's Proof Printer's Proof MVR 1 Very Fine $1,100.00
Last sold for this price on 31/10/2023
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Union Bank of Australia (Melbourne) 1878 50 Pounds Unissued Printer's Proof MVR# 2 Uncirculated Union Bank of Australia (Melbourne) 1878 50 Pounds Unissued Printer's Proof MVR# 2 Uncirculated Union Bank of Australia (Melbourne) 1878 50 Pounds Unissued Printer's Proof MVR# 2 Uncirculated $1,250.00
Last sold for this price on 28/4/2022
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Union Bank of Australia (Perth) 1892 5 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1892 5 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1892 5 Pounds Unissued Printer's Proof MVR# 2b good VF $700.00
Last sold for this price on 4/10/2021
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Union Bank of Australia (Perth) 1893 20 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1893 20 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1893 20 Pounds Unissued Printer's Proof MVR# 2b good VF $700.00
Last sold for this price on 4/10/2021
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Union Bank of Australia (Perth) 1898 10 Pounds Unissued Printer's Proof MVR# 2a good VF Union Bank of Australia (Perth) 1898 10 Pounds Unissued Printer's Proof MVR# 2a good VF Union Bank of Australia (Perth) 1898 10 Pounds Unissued Printer's Proof MVR# 2a good VF $750.00
Last sold for this price on 28/7/2021
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Union Bank of Australia (Perth) 1898 20 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1898 20 Pounds Unissued Printer's Proof MVR# 2b good VF Union Bank of Australia (Perth) 1898 20 Pounds Unissued Printer's Proof MVR# 2b good VF $750.00
Last sold for this price on 2/6/2020
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Union Bank of Australia (Perth) 1902 5 Pounds Unissued Printer's Proof MVR# 2a good VF Union Bank of Australia (Perth) 1902 5 Pounds Unissued Printer's Proof MVR# 2a good VF Union Bank of Australia (Perth) 1902 5 Pounds Unissued Printer's Proof MVR# 2a good VF $682.00
Last sold for this price on 4/10/2021
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Van Diemen's Land Commissariat Office Bill of Exchange 1828 Affleck Moodie for One Hundred Pounds Van Diemen's Land Commissariat Office Bill of Exchange 1828 Affleck Moodie for One Hundred Pounds Van Diemen's Land Commissariat Office Bill of Exchange 1828 Affleck Moodie for One Hundred Pounds $1,200.00
Last sold for this price on 27/1/2023
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Western Australian Bank (Perth) 1903 Five Pounds Unissued Specimen Note MVR#3 Uncirculated Western Australian Bank (Perth) 1903 Five Pounds Unissued Specimen Note MVR#3 Uncirculated Western Australian Bank (Perth) 1903 Five Pounds Unissued Specimen Note MVR#3 Uncirculated $2,500.00
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Western Australian Bank 1844 Unissued One Pound Uncirculated Western Australian Bank 1844 Unissued One Pound Uncirculated Western Australian Bank 1844 Unissued One Pound Uncirculated $632.50
Last sold for this price on 15/2/2023
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Whitman & Sons (Birdsville) One Pound Private Trader's Note about Unc Whitman & Sons (Birdsville) One Pound Private Trader's Note about Unc Whitman & Sons (Birdsville) One Pound Private Trader's Note about Unc $875.00
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WS Jones (Boulia) 1938 10 Shilling Shinplaster Fine WS Jones (Boulia) 1938 10 Shilling Shinplaster Fine WS Jones (Boulia) 1938 10 Shilling Shinplaster Fine $950.00
Last sold for this price on 17/4/2023
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WS Jones (Boulia) 1938 One Pound Note Very Good WS Jones (Boulia) 1938 One Pound Note Very Good WS Jones (Boulia) 1938 One Pound Note Very Good $275.00
Last sold for this price on 24/3/2021
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WS Jones (Boulia) 1940 5 Shillings Store Note Very Good WS Jones (Boulia) 1940 5 Shillings Store Note Very Good WS Jones (Boulia) 1940 5 Shillings Store Note Very Good $275.00
Last sold for this price on 24/3/2021
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WS Weigh & Son 1928 5 Shilling Private Trader's Note Fine WS Weigh & Son 1928 5 Shilling Private Trader's Note Fine WS Weigh & Son 1928 5 Shilling Private Trader's Note Fine $900.00
Last sold for this price on 24/3/2021
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