1 Pound

The Western Australian Bank was established in 1841, making it one of the colony's earliest chartered banks, but it never achieved the scale of its eastern counterparts. This note dates to the period when private trading banks in Australia were still issuing their own currency — a practice that would effectively end with the Commonwealth Bank's consolidation of note issue, completed by 1910–11 under the Australian Notes Act of 1910.

Surviving examples of this issue are genuinely rare. The Western Australian Bank was absorbed by the Bank of Australasia in 1927, and redemption of outstanding private notes was handled without fanfare — most remaining stock was surrendered and destroyed.