16/05/2026
Issued under King George the Fifth, by the Commonwealth Bank of Australia, which had taken over note-issuing authority from the Treasury in 1924. The first one pound design under the new arrangement, signed by Sir Ernest Cooper Riddle, the Bank’s first Governor, and James Heathershaw, Secretary to the Treasury. On the reverse, the founding scene at Sydney Cove on the twenty-sixth of January, 1788. The note stayed in circulation for six years, from late 1927 to early 1933, a stretch that took it through the last boom years of the twenties, the Wall Street crash, Australia’s exit from the gold standard, and the worst of the Depression. Why hold a Poor to Fair example? Because a note this worn is a witness. This is the pound that did not get saved for a rainy day because the rainy day arrived. It bought bread, paid rent, and at some point ran out.