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1 Pound Colonial Bank of New Zealand, Blue
| Issuer | Colonial Bank of New Zealand |
|---|---|
| Year | 1870-1890 |
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| Reference(s) | P#S262 |
| Obverse description | Central intaglio-engraved vignette presents an allegorical pastoral group comprising a seated female figure with agricultural implements, a beehive, and a cornucopia, flanked by a male figure sounding a horn at left and a second figure at right, set against a landscape with distant settlement; oval medallions bearing the £1 denomination device appear at upper left and upper right, with the bank title in arched lettering above the vignette. A script promise-to-pay text panel occupies the lower centre, with the issuing place NAPIER and a partial date field, below which the word ONE appears within a decorative guilloche lozenge. The denomination ONE POUND is printed vertically in the left and right side borders, with a repeated bank title panel along the lower margin. |
|---|---|
| Obverse lettering | INCORPORATED BY ACT OF THE GENERAL ASSEMBLY 1874. £1 £1 THE COLONIAL BANK OF NEW ZEALAND. ON DEMAND WE PROMISE TO PAY TO THE BEARER ONE POUND STERLING. NAPIER DAY OF 187 FOR THE COLONIAL BANK OF NEW ZEALAND. ONE POUND ONE POUND THE COLONIAL BANK OF NEW ZEALAND. SPECIMEN |
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| Comments |
The Colonial Bank of New Zealand was a private trading bank chartered in 1873, competing directly with the Bank of New Zealand and several other provincial institutions in a crowded field that would eventually collapse into consolidation. It survived until 1895, when the Bank of New Zealand absorbed it — partly as a government-backed rescue operation during the severe colonial depression of the early 1890s, which had strained nearly every private bank on the islands.
Perkins, Bacon's involvement is the detail worth noting. The London firm had built its reputation on security printing for postage stamps, and their intaglio technique — the same anti-counterfeiting discipline applied to colonial stamps — carries over into the tightly engraved linework on this issue.