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10 Pounds Bank of New Zealand

Issuer Bank of New Zealand
Year 1924-1928
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Value 10 Pounds
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Obverse description Central oval vignette of Maori King Tawhiao, rendered in intaglio against a fine guilloche underprint in brown and blue tones. Denomination numeral '£10' appears in each corner within ornate lathe-work cartouches, with 'TEN' lettered in large blue across the lower portion of the note. The bank title 'Bank of New Zealand' arcs across the upper field in elaborate script, flanked by the statutory incorporation legend.
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Reverse description Two Maori figures flank the left side, with the Bank of New Zealand arms at centre, and two kiwi birds at right alongside a palm tree and volcanic cone. The design is executed in fine intaglio engraving with intricate guilloche border work framing the entire composition.
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Comments

The Bank of New Zealand was a private institution during this period — the Reserve Bank of New Zealand wouldn't be established until 1934 — so notes like this one circulated as genuine commercial bank currency rather than state-issued legal tender. Bradbury Wilkinson's engraved work for colonial and dominion banking clients was among the finest intaglio production of the interwar period, and the BNZ series of the 1920s ranks among their more technically accomplished commissions.

A £10 denomination in this era represented roughly two weeks' wages for a skilled New Zealand worker, meaning circulated survivors took genuine punishment. The P#S237 prefix reflects its private bank classification in the Pick system.

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