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1 Pound Sterling
| Issuer | African Banking Corporation |
|---|---|
| Year | 1920 |
| Type | Standard circulation banknote |
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| Obverse description | The obverse is dominated by a central vignette of the Cape Colony coat of arms flanked by two rampant lions, set within an ornate guilloche border. The issuer's name AFRICAN BANKING CORPORATION LIMITED is printed in bold red letterpress across the centre, with the promise to pay one pound sterling in gold at Cape Town inscribed below. Serial numbers appear at upper left and lower right, with the date and dual manuscript signatures of the Accountant and Manager at the foot of the note. |
|---|---|
| Obverse lettering | THIS NOTE IS SECURED BY A DEPOSIT OF CAPE GOVERNMENT SECURITIES AFRICAN BANKING CORPORATION LIMITED Promise to Pay Bearer on Demand in Gold at CAPE TOWN ONE POUND Sterling ONE POUND DEZE BANK NOOT IS GEWAARBORGD DOOR EEN DEPOSITA VAN SEKURITEITE VAN HET KAAPSCHE GOUVERNEMENT |
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| Comments |
The African Banking Corporation was a British colonial bank operating primarily in Southern Africa, eventually absorbed into Barclays Bank (Dominion, Colonial and Overseas) in 1925 — just five years after this note's issue date. By 1920, the ABC was already in a weakened competitive position, squeezed by the Standard Bank and the newly consolidated National Bank of South Africa. Notes from this final period of independent operation are correspondingly scarce.
The S-prefix in the Pick reference places this firmly in the Specialized catalogue rather than the main sequence, reflecting its status as a commercial bank issue rather than a central authority emission.