10 Pounds

The Natal Bank Limited was founded in 1854 and remained one of the principal commercial banks operating in the Colony of Natal until its absorption into the National Bank of South Africa in 1914. Bradbury, Wilkinson produced work of consistently high engraving quality for colonial and dominion issuers throughout this period, and their plates for southern African private banks are among the more technically accomplished of the genre.

The "18xx" date designation indicates the year field was left blank on the printed sheet, to be completed by hand or stamp at the time of issue — a common arrangement for private bank stock held in reserve. At the £10 level, these notes moved primarily between commercial houses rather than through retail hands, which accounts for the relative frequency of cleaner survivors compared to lower denominations from the same issuer.