20 Pounds

The Commercial Bank of Tasmania was absorbed into the Bank of Australasia in 1921, making any notes from its final decade of independent operation relatively late survivors of a diminishing Tasmanian private banking sector. High-denomination notes like this £20 example would have seen limited hand-to-hand circulation — used primarily for interbank settlement and large commercial transactions, they tended to move through fewer hands and return to the bank more quickly than lower values.

The undated format was standard practice for Australian colonial and post-Federation private bank issues of this period, with individual notes dated by hand or rubber stamp at the time of issue — or not dated at all for treasury reserve stock.