20 Pounds Sterling

The Natal Bank Limited was established in Pietermaritzburg in 1854, making it one of the earliest commercial banks in the colony — and this £20 note, undated to the decade, was among the highest denominations it circulated. A note of this value would have been essentially invisible in retail trade; it moved between merchants, land agents, and colonial administrators settling large accounts.

Skipper & East were the standard London recourse for colonial issuers who needed engraved security printing but lacked local infrastructure. The "185x" dating reflects incomplete register records, not an undated issue — the month and year were hand-completed at time of release.