1 Pound

Volkskas — literally "people's treasury" — was founded in 1934 by Afrikaner nationalist organizations as a deliberate alternative to the British-dominated commercial banking sector. Its banknote-issuing rights made it one of the few private South African banks still printing its own currency into the 1950s, a privilege that effectively ended with the establishment of the South African Reserve Bank's monopoly on note issue.

Waterlow & Sons handled the printing throughout the series run. The plates used for this issue were shared across multiple denominations, a cost-saving arrangement common to smaller colonial and post-colonial issuers working with London security printers at the time.