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Published: Friday March 28, 2014 MYT 12:00:00 AM
Updated: Friday March 28, 2014 MYT 8:21:53 AM

Australia first banknote fetches RM1m

SYDNEY: The only surviving example of Australia’s first official banknote exceeded expectations when it was auctioned for A$334,000 (RM1mil), officials said.

The 10 shilling note – one of 100 issued in 1817 by the Bank of New South Wales (now called Westpac) on the day it opened – attracted bids from around the world, said Jim Noble of Noble Numismatics, which handled the sale.

“It’s a record for a colonial banknote,” he said yesterday.

“It will stay in Australia (but) I’ve no idea what the gentleman who bought it plans to do, he’s a high up executive in a big organisation.

“It would be exciting to see it on public display, it’s a great thing.”

The auction price easily exceeded its A$250,000 (RM760,000) estimate, with Noble attributing the interest to its unique historical value.

“It’s the only one of its kind, even Westpac does not have one.”

Noble said the note was discovered in a private collection in Scotland in 2005, with Scots-born former New South Wales governor Lachlan Macquarie or one of his staff thought to have taken it there.

It was later bought by a private collector who sold it at Wednesday night’s auction. — AFP

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