Reverse:||FIVE SHILLINGS within complex pattern.|
Signatories:||C. J. Cerutty, Assistant Secretary|
Jas. R. Collins, Secretary to the Treasury.
|Size:||128.00mm (width), 69.00mm (height).|
1916 Cerutty/Collins Specimen Five Shillings Note
The Five Shilling note was proposed during World War I as an alternative to the silver coinage then in use. 1,020,000 notes were printed in 1916 but signatures were not added until 1918 when Cerutty and Collins held the top Treasury jobs. The issue, which was to circulate without serial numbers, was abandoned in 1920 only weeks before the notes were due for issue when the price of silver fell.
All stocks were destroyed in 1936 with only 10 specimen copies being retained for archival purposes. In 1993, four more notes reached the marketplace, the property of a descendant of C. J. Cerutty, one of the signatories appearing on the note.
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