1 Pound

The National Bank of South Africa Limited was absorbed into Barclays Bank (Dominion, Colonial and Overseas) in 1926, making the early 1920s issues the final chapter for this institution. Notes from this period were produced in relatively small runs as the bank wound toward amalgamation, and the 1922 dated examples are among the scarcer survivors from that closing phase.

Waterlow & Sons printed extensively for colonial and dominion banks throughout the interwar period, and their intaglio work on South African commercial issues from this era is generally tight. Known to fox at the folds in humid storage conditions — worth examining carefully at the crease lines.