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5 Pounds Colonial Bank of Issue
| Issuer | Colonial Bank of Issue |
|---|---|
| Year | 1853 |
| Type | Log in to see details |
| Value | Log in to see details |
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| Composition | Log in to see details |
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| In circulation to | Log in to see details |
| Reference(s) | P#S247 |
| Obverse description | Uniface note printed in red-brown on white paper. The bank title 'Colonial Bank of Issue' runs in a bold script arc across the upper portion, centred on the Royal Arms vignette flanked by lion supporters with crown above and motto ribbon below. Denomination numeral '£5' appears at upper left and an oval guilloche panel bearing 'FIVE' at upper right, with serial numbers in black letterpress on either side below the arms. A horizontal guilloche band across the centre carries the promise-to-pay text in script, with 'Five Pounds' in an ornate cartouche at the foot of the note. |
|---|---|
| Obverse lettering | Log in to see details |
| Reverse description | Uniface note; no reverse design. |
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| Comments |
The Colonial Bank of Issue was a short-lived institution established in Victoria, Australia, in the early 1850s under the authority of the colonial government — a direct response to the explosive economic pressure created by the gold rushes at Ballarat and Bendigo. Melbourne's existing banking infrastructure was simply overwhelmed. The Colonial Bank of Issue was intended as a state-backed alternative, though it operated only briefly before private banking interests reasserted dominance and the colonial note-issuing function was wound down.
Surviving examples are genuinely scarce. The S247 prefix in Pick signals a private or semi-official issuer, and the 1853 date places this note squarely in the most chaotic period of early Victorian monetary life.