10 Pounds

The National Bank of Australasia was one of the major colonial-era trading banks that retained private note-issuing rights well into the twentieth century. Australian private bank notes were finally extinguished by the Australian Notes Act of 1910, which transferred the monopoly on currency issuance to the Commonwealth government. This note sits right at that threshold — the "ND (1910)" dating almost certainly reflects final-year issue stock, printed before the Act took effect on 1 December.

Private £10 notes from Australian trading banks in this period had limited retail circulation; they moved primarily between merchants and between banks settling interbank obligations. Surviving examples are correspondingly rare.