Australian Paper Fifty Dollar Note Obverse

What is the value of my Australian paper $50 you may ask? Well the answer can be found with the following answers.
1. Is it a genuine Australian paper 50 dollar note?
2. What are the signatures on the banknote?
3. What is the serial number of the note?
4. What condition is the banknote in?

The answer to all these questions will arrive you at the value of your note. Working with these answers you can easily look up past sales to determine the value of the paper money that you’ve found.

The Australian paper $50 banknote wasn’t issued at the changeover to decimal currency in 1966. It was introduced in October 1973 and issued until it was replaced with the new polymer design in October 1995 and paper notes were phased out. The paper $50 note was designed by Gordon Andrews. Maybe you’re not aware but the Mint in Canberra (the Royal Australian Mint) only produces coins, it’s Note printing Australia that makes our Aussie banknotes.

1. Is it a genuine Australian paper $50 note?

The Australian paper $50 note features Lord Howard Florey, best known for the discovery of penicillin, on the front along with two signatures of the Governor of the Reserve Bank of Australia and the Secretary to the Treasurer, and two banknote serial numbers. The back depicts a portrait of Veterinary Scientist Sir Ian Clunies Ross. Both the front and back have the denomination or face value of 50 printed twice. Not like the lower denominations of paper notes the $50 only ever read “AUSTRALIA” (and not “COMMONWEALTH OF AUSTRALIA” in the earlier years). It was at the introduction of the $50 that this change occurred to all the notes.

Security features hide within the note with the profile watermark of Captain James Cook manufactured into the paper as well as a vertical security thread. Interestingly these paper banknotes were made from a special recipe of fine cotton and linen, the paper manufactured by Portals Ltd. of London. Colours on the note are black, brown, gold and green tones.

Australian Paper Fifty Dollar Note Reverse

2. There are 2 signatures on the $50 note, what are they?

The signatures are of the Governor of the Reserve Bank of Australia and the Secretary to the Treasurer at the time when the notes were issued and it’s from this we can determine the age of the note. From 9th October 1973 to October 1995 there were 9 signature combinations.

3. What is the serial number of the note?

The serial number is the combination of 3 letter prefix and 6 digit suffix on the banknote. There are two serial numbers on front of each note. The letter prefix determines whether it is a first issue, last issue or general issue note-the first and last prefixes usually more collectable and have a higher value than general circulation paper notes. If a star or asterisk exists in place of the last digit then you have a very rare and valuable star note. Read about the value of a star replacement paper note.

4. What condition is the banknote in?

Condition is the deciding factor of the value of the paper $50 note. Notes can be graded from poor to uncirculated as a general rule and then we must consider if the note is missing paper, has rips or pinholes and folds of the paper which is all considered as wear. Even a light teller flick on the corner of the note can deem it almost Uncirculated. Then the value of the note can be determined by the condition of the note. Consideration must be made if the note has been repaired, manipulated or cleaned to appear a higher grade than it actually is.

This note looks different, what could it be?

It might just be an error note! A mistake in the manufacturing process may mean a note that’s spoiled in some way (see starnotes above). Examples of an error paper $50 could be a fault in the paper cutting resulting in an extra flap, missing ink (intaglio), smudged ink, or wet ink transfer. There are many types of errors on banknotes that escaped Note Printing Australia. Error paper notes can be very valuable but this depends on the type of error you have.

In conclusion we could quote catalogue values but they wouldn’t necessarily give you a true idea of the value of your paper note. It’s best to see what your type of note is selling for at a dealer, auction house or selling site such as eBay to get an idea of what your banknote is worth.

Australian Paper $20 Note Phillips Wheeler 1972 General Prefix Fine Value about $30 (2015)

The Australian $20 was first issued in 1966, it was made of paper with red/yellow/black print. It replaced the ten pound note which was of similar colouring. The front shows a portrait of Sir Charles Kingsford Smith with pendulum tracings symbolic of wings, 2 serial numbers and 2 signatories. The back portrays Lawrence Hargrave with his drawings of flying machines and kites. The denomination is shown as ’20’ and appears twice on the front of the note and twice on the back. Early notes form 1966 to 1974 read ‘COMMONWEALTH OF AUSTRALIA’ on the top (see note imaged) and from August 1974 to 1994 this was shortened to read ‘AUSTRALIA’.

Each Australian paper banknote has security features hidden away in the note. Hold your $20 banknote up to the light and in the white space you’ll see a watermark, the profile of Captain Cook which was manufactured in the paper as an anti-counterfeiting measure. The note also has a metallic security thread running vertically through the note which can also be seen when you hold the note up to the light. The note will have an embossed feel.

Australian Paper $20 note Back

The paper $20 note was phased out from 31 October 1994 when the new design polymer twenty dollar note was released.

After you have identified the signatures on your banknote then another important factor in determining the notes value is the serial number. There should be two serial numbers on the front of the note and they should match -3 letters followed by 6 numbers. The serial number tells us if the paper note is a first issue, last issue or general issue for that series. It also tells us if we have a very rare star note which is very valuable. Starnotes replaced soiled or damaged notes and were inserted into bundles for accuracy in accounting by the banks. The last digit was replaced with a star or asterisk. Star serial numbers on paper twenty dollar notes are found from 1966-1972 when the practice was ceased.

Error notes are those that should have been replaced with a starnote. There are many many types of errors that are found on notes some of which include mismatched serial numbers, missing print, missing colour, cutting errors and extra paper flaps. These can be quite valuable depending on the type of error and the condition of the note.

Condition is a crucial factor in the value of the paper banknote. A mere bank teller flick or centre fold can devalue the note considerably. In attempts to reverse wear on a note many paper notes have been doctored in some fashion. This includes bleaching, pressing or repairing. This should be carefully considered and factored in if you are looking to purchase a paper note.

Australian 10 Dollar paper Note Fraser/Cole General Prefix and One of the last paper $10 notes issued and valued at a few dollars over its face value.

The Australian paper ten dollar note was first issued in 1966 replacing the 5 pound pre-decimal banknote. The paper note was continued until 1993 when it was replaced with a polymer issue plastic banknote with the same blue/black and yellow colours. Polymer banknotes replaced Australian paper notes after successful trials with the 1988 Bicentennial commemorative banknote. The old paper Australian ten dollar note features a portrait of Francis Howard Greenway on the front along with a collage of his architectural works. The front also depicts the two serial numbers and denomination of 10. The words “Commonwealth of Australia”appear on the earlier notes 1966 to 1974 then it was shortened to “Australia” from 1974 to 1993. The back shows a profile portrait of author and poet Henry Lawson on a background collage of photographs from his time, manuscripts of his works and personal letters. The notes measure 155 milimeters by 77.5 millimeters, this is important to know as many collectable banknotes are trimmed or tampered with to increase their grade and therefore value.

Australian Ten Dollar Paper Note -Back

The Australian paper ten dollar note was first issued in 1966 with the Coombs/Wilson signature combination. Soon after decimal changeover it was reported that counterfeit $10 notes were circulating and police already had $140,000 worth of forged notes by early 1967. The counterfeit notes began flooding Victoria in late December 1966. The Reserve Bank of Australia set to inform the public of how to detect these fake notes and published advertisements in leading daily newspapers on what to look out for so you don’t receive fake notes.

The signature combinations appearing on the paper ten dollar banknotes are the marks of the Governor of the Reserve Bank of Australia and the Secretary to the Treasurer which change over the years. There are 10 combinations of these signatories on the paper ten dollar note.

After determining the signatures on your paper banknote another factor vital in determining it’s value is the serial number. Most importantly look out for a star replacing a missing numeral. Star replacement notes are very valuable in any condition, these replaced soiled or damaged notes in a bundle so bank staff could keep track of the number of notes in a bundle. This practice was discontinued in 1972 so these star or asterisks are only found on the earlier notes.

Serial numbers begin with 3 letters and end with 6 numbers, the two serials on the note should match. The three letters are the prefix and identify whether it be a fist issue, last issue or general issue for those signatories with the first and last commanding a premium over the general issues. Numbers which are repetitive, solid number or radar numbers are also commonly kept by collectors for a bit of fun and may sell for a higher price. Consecutive serials on multiple notes may also fetch a higher price when sold.

Error banknotes can command a significant premium over the notes face value but this will depend on the type of error. Types of banknote errors include mismatched serial numbers, inking errors, paper folding and cutting errors as well as the starnotes mentioned above.

Reference
Vort-Ronald, Michael P.(2000) Australian Decimal Banknotes Second Edition
Change the Decimal Notes!, February 1967, Australian Coin Review
The Man Against the Forgers, February 1967, Australian Coin Review
Ultra-Violet Picks Forgeries, February 1967, Australian Coin Review