Western Australian-based business The Rare Coin Company, in Albany has just sold the only Australian 1952 George VI £50 unissued specimen banknote of its type known in private hands to a WA client for $750,000, setting a new benchmark for this classic Australian rarity.

The only other example is displayed in the Reserve Bank of Australia’s (RBA) museum in Sydney.

Presented in superior about Uncirculated-grade (aUNC), the banknote last surfaced for sale in 2006, when it was sold to another WA buyer for an undisclosed sum.

Previously Unreported

This magnificent banknote, featuring the portrait of Sir Henry Parkes, known as the ‘Father of Federation’, remained unreported until the 1990’s. It is believed to have been one of a proposed new series of Australian banknotes. It was first shown at the International Coin Fair in Singapore by its purchaser, coin and banknote company Monetarium (Australia).

At the time, it was also reported in the Australian Coin Review magazine’s March and May 1996 editions and displayed at the Numismatic Association of Australia (N.A.A.) Coin Fair in Sydney, in March the same year.

Then Monetarium spokesperson Barrie Winsor told Coin Review at the time “that the recent publicity surrounding the launch of a Parkes one dollar coin helped bring this new discovery to light”. The Parkes portrait later appeared on the commemorative five dollar polymer banknote issued in 2001 to mark the Centenary of Federation. (more…)

The Rare Coin Company is poised to set yet another World Record when it bids to acquire the very first Australian Commonwealth Banknote ever printed, the 1913 Ten Shilling note. If successful, this will be the second time in less than four months that The Rare Coin Company has set a new world record for the price paid for an Australian banknote at public auction.

Queensland, Australia — The Rare Coin Company is poised to set yet another world record when it bids to acquire the very first Australian Commonwealth Banknote ever printed, the 1913 Ten Shilling note. Rob Jackman, the Company’s founder will attend the International Auction Galleries auction at the Sofitel Hotel Gold Coast in Queensland on Sunday 9th of March 2008 from 3pm. It is estimated that the banknote is valued at $1.3 to $1.4 million dollars and that the auction will attract a number of major coin dealers and private collectors.

If successful, this will be the second time in less than four months that The Rare Coin Company has set a new world record for the price paid for an Australian banknote at public auction. In November 2007, the Company paid $1,223,250 dollars for an Australian 1924 George V One Thousand Pound banknote, which was sold at auction by Nobles Numismatics in Sydney.

Further background information about the 1913 Ten Shilling banknote:
On the 1st of May 1913 the first official Commonwealth banknote was printed with a number of important personages in attendance, including Andrew Fisher, The Governor of the Commonwealth Bank Dennison Miller, the Governor General Thomas Denman, and the Lord Mayor of Victoria. A quick demonstration of the printing process was followed by a ceremony where the first banknotes were then produced by a hand numbered machine press. The Governor General’s daughter, Judith, was then involved in operating the lever of the hand press to produce the first Australian Banknote, with the serial number M000001, and was subsequently presented with this important note. Thomas Denman and his family returned to England upon the completion of his term, and the note then remained with the family’s descendants until it was returned and sold in Australia in 2000 by Mr. Barrie Winsor. The note is still in its original Government House envelope, inscribed in old ink “Judith’s 10/- Note, May 1st 1913″. (more…)

The Rare Coin Company is set to continue to build on the success achieved in 2007, with the recent appointment of its inaugural Chief Executive Officer, Mr Edward Armstrong. Mr Armstrong commences his role as Chief Executive Officer in early January 2008, bringing with him a wealth of experience gained through an extensive career at a Senior Management level.

The appointment was spearheaded by the growth and expansion of the company during the preceding 18 months, which opened new and exciting opportunities for staff promotion and new management positions.

“The appointment of a CEO by The Rare Coin Company is a positive move both for the Company and the Australian Numismatic Industry as it continues to signify the industries move to a more professional standing, which can only ultimately benefit the broader consumer investment market,” Mr Armstrong said.

The appointment of Mr Armstrong caps off a significant 18 months for The Rare Coin Company, who recently set a new world record for the purchase of an Australian banknote at public auction. The company paid $1,223,250 dollars for an Australian 1924 George V One Thousand Pound banknote, which was sold at auction by Nobles Numismatics in Sydney on Thursday 22nd November 2007. (more…)