1 Pound National Bank of New Zealand Limited

The National Bank of New Zealand Limited was incorporated in London in 1872 under English law, with capital raised from British investors — it was a colonial bank in the strict sense, directing funds toward New Zealand pastoral and commercial lending from a metropolitan base. This note belongs to its earliest trading years, before the bank had established the regional presence it would later build across the North Island.

Perkins, Bacon & Petch were the obvious choice for a London-incorporated colonial bank at this date. Their steel intaglio work was specifically chosen for its resistance to forgery at a time when antipodean authorities had limited means to authenticate currency in remote districts.