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| 背面描述 | Plain blue reverse printed with a large central guilloche numeral '5' surrounded by four ornate circular lathe-work rosettes at the corners, all in pale blue on white paper. The bank name appears in mirror-relief along the lower border. The design is minimal, relying on intricate engine-turned patterns for visual security. |
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| 变体 | P#A87a - Sydney |
| 备注 |
The Bank of New South Wales was the oldest trading bank in Australia, and by 1910 it was operating across multiple colonies-turned-states as well as in New Zealand and the Pacific. Private banknote issuance in Australia continued well after Federation in 1901 — the Commonwealth Bank didn't begin issuing notes until 1913, and the legal monopoly on issue came later still. These Waterlow-printed notes were legitimate commercial instruments circulating alongside those of rival private banks.
Waterlow & Sons had a long relationship with Australian colonial and commercial issuers. The guilloche underprint was their standard counterfeit deterrent on commercial bank work of this period — mechanically intricate, difficult to replicate by hand or early photographic reproduction.