£1 R26 Riddle/Heathershaw about Uncirculated Consecutive Run of 5

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£1 R26 Riddle/Heathershaw about Uncirculated Consecutive Run of 5

$12,450.00
Product Code
20031
In stock
  • Iconic Depression Era banknote type
  • Riddle/Heathershaw signature combination
  • Consecutive serial number banknote run of five
  • Scarce in the upper echelons of quality
  • Excessively rare when found in consecutive sequence
  • Graded at about Uncirculated quality
  • Also available in a consecutive pair

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Great Depression £1
in a rare consecutive run of five!

As with all King George V banknotes, the 1927 £1 Riddle/Heathershaw is rare in the upper echelons of quality. It is excessively rare when found in consecutive sequence – as here.

Two years after the Riddle/Heathershaw signature combination began, the Great Depression engulfed Australia. Our most calamitous economic crisis, Australia’s key exports all but collapsed, national income declined by a third, and unemployment was over 30% at its worst. For those lucky enough to have a job, the average weekly wage was about £3. With money so tight, the idea of popping even a ‘quid’ away as a keepsake would have been deemed crazy by most Australians. 

In addition, although not the lowest denomination, the £1 suffered the highest circulation rate of any note. Indeed, Treasury estimated in the 1920s that a £1 had a life expectancy of just TEN months before withdrawn and consigned to the furnaces found in the basement of Treasury. As a result, the 1927 £1 Riddle/Heathershaw was seldom set aside at the time of issue, and a vast majority of those that avoided a fiery finale are heavily circulated. Not so the notes offered here!

Unquestionably rare as an individual note in about Uncirculated condition, the chance to secure this iconic Depression Era banknote in successive sequence is virtually unheard of today. This is a truly glorious opportunity for the true Australian banknote connoisseur!

More Information
Reference NumberR26
Banknote TypePaper
Country of IssueAustralia
Year of Issue1927
Denomination£1
GradeAbout Uncirculated
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