1910 Collins/Allen Superscribed One Pound

Although legislation authorising the issue of Australian national notes was passed by the new Commonwealth Parliament in 1910, it was not until 1913 that the logistical challenge of printing millions of notes was overcome. During the intervening three years, the government met demand for paper currency by superscribing private bank notes with a Commonwealth guarantee, promising that each note was redeemable in gold sovereigns. These overprinted notes were ultimately withdrawn from circulation after the First World War. The present note was originally issued by the London Bank of Australia and is one of the more affordable varieties of superscribed Commonwealth notes available to collectors. It remains substantially intact, with square corners and only light margin splits associated with heavier folds. Importantly, PCGS has not applied any qualifiers to their grade, indicating the note is free from significant problems such as pinholes, excessive tears, cleaning, or repairs. If you’re interested in Australia’s early Commonwealth paper currency, and would like a problem-free representation of a superscribed note, this is an ideal specimen.