2011
Storage and Care of Australian Banknotes
I receive a large of emails regarding this topic. A very impotant topic that is sometimes overlooked. When people spend thousands of dollars for a single banknote, then it is very important that the storage and care of that banknote is given the priority it deserves. The guide is available here and will also be listed permanently in the navigation area.

Noble Numismatics Auctions have uncovered another rarity. The r52d Ten Pound banknote.
Reserve bank archives indicated that the serial number range U/0 000001 to U/0 039188 was used on Cerutty/Collins £10 notes. An annotation in the archive states that the notes were of the ’old design’. None are known to exist. This note is mentioned in Vort Ronald's, Australian Banknotes [second edition 1983] at page 198 [second line].
This situation has now changed. Lot 4781 at the Noble Sale 96 held on 7th April, 2011 was an r52d banknote - graded VG - which realised a price of $34,950. This note was allocated a Rennicks number of r52d by the auctioneer, which is line with Rennicks numbers for that group, and is unlikely to change. I have listed the note accordingly as a r52d Ten Pound banknote.

Last year Noble Numismatics Auctions offered for auction an r86c solid numbered banknote. The amazing thing about this banknote was not the serial number but the HRN letter prefix. Until this note was sighted it had been assumed the first prefix serial number for r86c banknotes was HRZ. The records are adjusted again. As I mention below in "First and Last Issues" this is a ludicrous situation.

Retirement of Dr Ken Henry – Secretary to The Treasury
Dr Ken Henry, whose signature has appeared on Australian banknotes since 2002 will step down as Secretary to the Treasure in February 2011. From March 7, 2011 his role will be filled by Dr Martin Parkinson. As a result of that we will see a new signatory on bank notes that are issued.

The 2011 Pocket Guide to Australian Coins and Banknotes by Greg McDonald broke new ground this year with the devaluing of a considerable number of notes. Many people were surprised by last years edition which showed increases in value for nearly all notes. This is of course without prejudice as many factors are involved in assessing bank note valuations. The table below [which takes into account only general circulation notes in UNC condition] gives an indication to some of the valuation movements.

As a result of these new valuations many sellers [especially at eBay] will have to alter their strategies. The values of the lower priced notes have been reduced by up to 30% [ r78 ] and with postage costs almost identical to buying costs, it is far better value to buy 2 notes from a dealer for the same price. It will be very intersting to see how the market reacts to these new valuations.

Google
I would like to thank our many visitors for making us Number 1 at Google in their search requests for 'australian banknotes'. From a very humble beginning we have now established ourselves as the premiere destination for that enquiry with monthly visitor numbers increasing to around 4000.

2010
International Auction Galleries have completed their second auction for this year. Pre decimal notes were very strong in most areas. The early notes did very well, but notes that are post 1960 still have a little way to go. Very few decimal notes were offered and no conclusions could be made, but generally they remain the same as they have for the past twelve months. We seem to still be in an era of consolidation, but there is plenty of value out there for the discerning buyer.

2009
The global financial crisis has been called by leading economists the worst financial crisis since the Great Depression of the 1930s. As such, not a lot of movement was seen in Australian banknote values. A few marginal gains in some areas, but, in general, most sellers looking for a "book value" return did not enter the market. On the upside, those looking to buy were able to add to their collections for a very reasonable investment.

First and Last Issues
This was the biggest mover during the last twelve months. In years gone by collectors were only accumulating the very First and absolute Last Issues of notes [Prefix AAA and Prefix DPS in the $1 series]. Now they are collecting First and Last Issues for every signature combination. The Rennicks Australian Coin and Banknote Values catalogue has now assigned the suffixes of F and L to identify those notes. As this is a new innovation in collecting those with a First or Last Issue in their inventory, albeit acquired innocently, will profit handsomely. This is the first year they have been listed in print catalogues and the market is yet to determine their true value. Nevertheless, some of these notes will be very difficult to acquire and will certainly command huge premiums.

A note of caution - not all First and Last Issue notes have been confirmed. Some are yet to be ratified, and a few have been subject to correction. Be wary, especially with Knight/Wheeler banknotes. Also, some notes only have a range of 3 numbers [like the r61 1952 Coombs/Wilson Ten Pound Note] so I would not be paying a premium for those First and Last Issue notes.

Is it just me, but I find it amazing that there is no record of some First and Last issues.
Manufacturers of consumer products that come with a serial number have exact and precise records of all items produced. They have to be able to account for every item produced.
I would have thought that the same basic principles would have applied to the manufacture of a nation's currency. Sadly, that was not the case and we are left in a state of limbo.

Plate Identification Letters (PIL)
Plate Identification Letters were to be phased out by 1990 and prior to the introduction of polymer notes. Despite this, an interesting feature occurred during the latter part of the printing of the 1993 Fraser Cole paper Ten Dollar note. Throughout bundles of the last print run there was a plate letter on every third note. These notes are now commanding a very nice premium.

Banknote Values

Many collectors believe that the print catalogues represent the final word on banknote values. Experienced collectors and dealers know much better. While the various catalogues are invaluable guides, and are highly recommended for all serious collectors, they are not the definitive word on pricing.

Catalogue and market values for banknotes often differ for many reasons :

• Out-of-date : Catalogues take many months to produce, and by the time of publication, much of the information contained in them may be already outdated. A sudden increase in the value of a specific note will not appear until the next catalogue, which may be not be released for up to 12 months time.
  
  
• Estimates : Even though the catalogue valuers always do their best to provide honest values, the fact remains that they are not always reporting actual sales, but rather simply providing estimates of the value of notes that may not have been handled or sold in years, if ever.
  
  
• Unrealistic : It is very unusual for a catalogue to show a drop in value, even though this sometimes happens. Just as the sale prices of land, stamps and coins fluctuate, so also do the prices for banknotes.
  
  
• Incomplete : As collectors who specialize in particular notes will confirm, there can be dramatic differences in the market values of specific banknotes, especially with the first and last printed notes in a series. It is only recently that some catalogues have picked up on these specifics.
  
  
• Inaccuracy : Catalogues have been known to contain errors, such as missing notes and unlisted dates. They may also contain incorrect values due to printing errors.
  
  
• Rarity : Collectable banknotes are not commodities readily available on a retail market at a fixed price. True rarities may come on the market only once or twice in a lifetime, and even the some "common" notes are sometimes impossible to find at any price.

The two usual main indicators of value are rarity and condition.

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