A New World Record Price for any Australian Numismatic Item has been set. A 1913 10 Shilling Note was auctioned by International Auction Galleries on March 9th (Lot 126) for A$1.909 million (U.S. $1.767 million) (includes buyers fee), the Highest Price ever for an Australian Numismatic Item, and the Highest Price for any Numismatic item ever sold in Australia of any description!

This landmark sale Eclipses the Previous Record Price by a whopping $685,750 to become the new King! The Record Breaking Sale of the First Ever Commonwealth Banknote printed in Australia is the most significant single sale of any major Auction House, and is sure to keep IAG’s name in the record books for many years yet!

A key point also was the fantastic overall strength of the sale in what many might perceive as a weakening economy, with numerous record prices set and 9 individual lots selling for more than $100,000. (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…)