10 Shillings National Bank of New Zealand Limited

The National Bank of New Zealand Limited was a London-incorporated institution that operated as a private trading bank, distinct from the government's own note-issuing function. During the 1920s, New Zealand still permitted several private banks to issue their own currency — a situation that ended definitively with the Reserve Bank of New Zealand Act of 1933, which centralised issue and almost certainly cut short the lifespan of this very series.

Perkins, Bacon & Petch had refined the steel-engraving and security printing techniques originally developed by Jacob Perkins in the early nineteenth century. Their work for colonial banking clients was a significant part of the firm's business in this period.