Private Colonial Banknotes Colonial Bank of Australasia Limited

Year(s)Denomination(s)
1856£50, £20, £10, £5, £1
1866£100, £50, £20, £10, £5, £1
1872-85£50, £20, £10, £5, £1
1885-89£50, £20, £10, £5, £1
1893-1908£50, £20, £10, £5, £1

Notes:

The Colonial Bank of Australasia Limited was established in Melbourne in 1856. The bank was reasonably successful until a run on deposits during the financial crisis of the 1890's caused it to suspend payments. The setback for the company proved to be short-lived. The business was viable and quickly recovered.

The limited operations of the company, with branches only in Victoria, placed it at a disadvantage in comparison with the larger banks operating Australia-wide. The bank was absorbed by the National Bank of Australasia Limited in 1918, now a part of the National Australia Banking Group Limited.

In 1911, the bank was one of 16 banks who supplied blank note forms to the Australian Government. These notes were superscribed as redeemable in gold and issued as the first Commonwealth notes.

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