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10 Shillings

Issuer Commonwealth Bank of Australia
Year 1939-1952
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Printer Note Printing Branch, Commonwealth Bank of Australia
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Reverse description The central vignette presents an allegorical intaglio scene titled 'Manufactures', in which a group of workers are engaged in various trades and craft activities within an industrial setting. To the left, an oval guilloche panel carries the denomination '10/-', while a blank oval reserve occupies the right field. The denomination 'TEN SHILLINGS' appears within a decorative panel at the base, all rendered in red on white paper.
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Variants P#25a - signatures: Sheehan & McFarlane
P#25b - signatures: Armitage & McFarlane
P#25c - signatures: Coombs & Watt
P#25d - signatures: Coombs & Wilson
Comments

Pick 25 spans one of the more turbulent periods in Australian monetary history, running from the eve of the Second World War through postwar reconstruction. During the war years, the Commonwealth Bank operated under considerably expanded government powers, and the note-issuing function became entangled with wartime financial controls in ways that left their mark on production volumes and release patterns across the series.

Four signature combinations appear on this type — Sheehan/McFarlane through Coombs/Wilson — reflecting genuine institutional turnover at the top of the Bank. The Coombs/Watt pairing is the scarcest of the four, commanding a meaningful premium over the other combinations in equivalent grades.

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