5 Pounds

The Union Bank of Australia was absorbed into the Australia and New Zealand Bank (ANZ) in 1951, but notes like this one were already being squeezed out of circulation long before that merger. The Commonwealth Bank Act of 1910 — the same year assigned to this note — set in motion the gradual transfer of note-issuing rights to the Commonwealth Bank, with private bank issues formally prohibited for new production after 1910 and withdrawn from legal tender by 1911.

That tight window makes surviving examples genuinely rare. Notes caught in the transition were often returned to the issuing bank and destroyed rather than worn out through normal use.