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5 Pounds
| Issuer | Durban Bank |
|---|---|
| Year | 1862 |
| Type | Standard circulation banknote |
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| Composition | Log in to see details |
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|---|---|
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| Protection type | Handstamp |
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| Variants | P#S442a - Signature title: Chief Clerk, 03.11.1862 P#S442b - Signature title: Chief Accountant, 12.04.1864 |
| Comments |
The Durban Bank was a short-lived colonial institution, established in 1854 and operating through a period of intense competition among private banks in Natal. This 1862 note predates any formal banking legislation in the colony — the Natal Bank Act didn't arrive until 1868 — meaning the Durban Bank issued against its own reserves with no statutory framework governing its obligations.
Nissen & Parker of London produced the printed portion, but the handstamp security feature points to local completion before issue, a common arrangement when colonial banks received pre-printed sheets from London and validated them at the branch. The Durban Bank collapsed in 1865, making the window of issue for this note extremely narrow.