1 May 2013

Australia's first banknote for sale

10:15 am on 1 May 2013

The first banknote printed for the Commonwealth of Australia in 1913 is to go on sale in Melbourne with an asking price of $A3.5 million.

The 10/- (shilling) note, serial number M000001, was issued on 1 May, 1913.

It is to go on exhibit in the Hall of Honour at the World Stamp Expo in Melbourne from 10 - 15 May before being offered for private sale.

Coinworks said the note symbolised one of the most important periods in the history of Australia - the establishment of the Commonwealth of Australia in 1901 and the subsequent evolution of nationhood.

Chief executive Belinda Downie said the note was hand numbered at a ceremony held at the Government Printing House in Melbourne.

The note was presented to Judith Denman, the daughter of the governor general at the time, by Prime Minister Andrew Fisher. It was found in her effects after she died in 1987.

AAP reports it was acquired by a private collector in Sydney for $A1 million in 2000 and changed hands again in 2008 at auction for $A1.9 million.