1 Pound

The Commercial Bank of Australia was one of the handful of Australian private trading banks still issuing its own notes in the years immediately before the Commonwealth Bank Act of 1911 brought that practice to a close. This note belongs to the final years of that era of private issue — after 1911, only existing stocks could circulate, and by 1914 a ten percent tax on private bank notes effectively ended the practice altogether.

The undated format was typical of the bank's late issues, with date and serial details completed at the branch level. The Commercial Bank itself was eventually absorbed into the National Australia Bank lineage following a series of amalgamations across the twentieth century.