10 Pounds Bank of Australasia

The Bank of Australasia was a London-incorporated institution that operated branches across the Australian colonies and, after Federation in 1901, the new Commonwealth. Its notes were never legal tender — they circulated on the bank's own credit and were redeemable at its branches. A £10 denomination was a substantial sum in this period, roughly two or three weeks' wages for a skilled tradesman, which meant these saw limited handling and were more commonly used in commercial settlements between businesses than in retail trade.

Perkins, Bacon & Petch were responsible for the intaglio work, the same London firm that engraved stamps for dozens of British colonial governments. Their security printing was technically accomplished, though the bank's own London oversight of design and issue meant Australian branches had little say in the notes' production.

The Bank of Australasia merged with the Union Bank of Australia in 1951, long after this series had been withdrawn.