Lot 4
Exceedingly Rare. The only signed and issued note of this bank that has survived
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Notes:
- The South Australian Banking Company £1 signed and issued in 1862 is a classic rarity of Australia’s Colonial period. The bank had its genesis in the Bank of South Australia which was set up in in London in 1837 to service the employees of the South Australia Company which itself was formed to establish a free colony on the banks of the Torrens River. As a division of a land holding company the bank did not qualify for a Royal Charter and so its operations were devolved in 1842 to form the South Australian Banking Company. However, its customers were less than impressed with its new official title preferring the familiar moniker of the Bank of South Australia and so accommodate its clientele banknotes were issued under both names. The official title of the bank reverted to the Bank of South Australia in 1867 under a new charter and banknotes with the title of the South Australian Banking Company were withdrawn.
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