1 Pound

The Union Bank of Australia Limited was absorbed into the Bank of Australasia in 1951 — but this note predates that merger by four decades, issued during the final years when private banks in Australia still circulated their own pound notes without federal interference. The Commonwealth Bank Act of 1911 began shifting that power toward the government, making notes from this transitional window genuinely scarce survivors of a short-lived issuing environment.

Waterlow & Sons produced the plate work in London, a common arrangement for Australian private banks that lacked domestic security printing infrastructure of comparable quality.