1 Pound

The Australian Bank of Commerce Limited had an exceptionally short run — it operated from 1910 until its absorption into the Bank of Australasia in 1921. Private trading banks in Australia retained the right to issue their own notes until the Australian Notes Act of 1910 effectively ended that practice by imposing a ten percent tax on private note issues, making them commercially unviable almost immediately. This note sits right at that threshold moment.

It is among the rarest of all Australian private bank issues precisely because so few entered circulation before the legislative landscape shifted. The P#A72 designation reflects its uncertain status in early cataloguing — physical survivors are documented in single digits.