About Australian Decimal Paper Banknotes

The ten pound note was one of Australia’s highest-value circulating banknotes in the pre-decimal system, representing weeks of wages and used extensively in banking and commerce. Its significance is reflected in both the 1954 Commonwealth Bank issue and the 1960 Reserve Bank issue, which together chart the transition of Australia’s monetary system.

The 1954 Coombs/Wilson Commonwealth Bank ten pound note is recognized as the final large-denomination note issued under the Commonwealth Bank. Printed in orange-brown with the Australian Coat of Arms, it carried prestige and was vital in high-value transactions. Because of its high purchasing power, most were heavily circulated, making uncirculated examples exceptionally scarce. Collectors value this note as the last of its kind, closing the Commonwealth Bank era.

The 1960 Coombs/Wilson Reserve Bank ten pound note, by contrast, marked a new beginning. It was the first ten pound note to be issued under the newly formed Reserve Bank of Australia, and also one of the final pre-decimal notes before the dollar replaced the pound in 1966. Its transitional status, as both a “first” Reserve Bank issue and a “last” pre-decimal high denomination, ensures enduring demand among collectors and investors.

Both issues carry the highly respected Coombs/Wilson signature pairing, connecting them to two central figures in Australia’s economic policy. Today, auction results confirm strong premiums for high-grade notes, particularly uncirculated examples, which remain exceedingly rare.

Together, the 1954 and 1960 ten pound notes symbolize both continuity and change—one closing the chapter of Commonwealth Bank authority, the other opening the Reserve Bank era. For collectors, they are cornerstone pieces that capture the cultural, historical, and economic story of Australia’s pre-decimal high denominations.