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5 Pounds National Bank
| Issuer | National Bank Limited |
|---|---|
| Year | 1919 |
| Type | Standard circulation banknote |
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| Obverse description | Central vignette of Hibernia seated, with the bank's arms at left; the central field carries a printed list of all the bank's branch offices. The text of the promise-to-pay obligation runs across the note within a typeset border. |
|---|---|
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| Reverse description | The reverse is largely unprinted, with evidence of a circular branch stamp at right and diagonal ink cancellation marks at left, both applied in blue ink during the note's period of use. |
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| Comments |
National Bank Limited was one of the main trading banks operating in New Zealand in the early twentieth century, though it was incorporated in London and maintained its head office there — a structural detail that shaped how its notes were produced and regulated. The P#223 series falls in the immediate post-WWI period, when note-issuing rights for private banks in New Zealand were being progressively tightened ahead of the eventual monopoly granted to the Reserve Bank in 1934.
Private trading bank issues from this transitional window are now genuinely uncommon in any grade; many were withdrawn and destroyed as the state consolidated control over currency issuance through the 1920s and early 1930s.