10 Pounds

New Zealand retained the pound well after most Commonwealth nations had moved on, and this note spans nearly three decades of issue — a range that catches multiple signature combinations and a mid-run addition of a security thread, making the Fleming issues particularly worth distinguishing. The threadless Fleming and thread Fleming are catalogued as the same Pick number but behave differently in the market.

De La Rue's London production remained uninterrupted through the Second World War for New Zealand's higher denominations, unlike some colonial issues that were forced into substitute printing arrangements. The ten-pound face value kept circulation volumes low; high-denomination notes of this period were largely used in commercial and interbank settlement rather than retail trade, which affects survival rates in used grades.