Story: Coins and banknotes

Trading bank banknotes: Colonial Bank of Issue note (1st of 3)

Trading bank banknotes: Colonial Bank of Issue note

This £5 note produced by the Colonial Bank of Issue is not dated and does not appear to have been issued. This bank was set up by the government in 1850 in an attempt to ensure a sufficient and stable currency. Coins in particular were in short supply and the government wanted people to use the bank's notes instead. The bank was wound up in 1856, partly because not enough people were willing to exchange their coins for banknotes. As was typical in this period, the note is very plain and was blank on the reverse side.

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Reserve Bank of New Zealand

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How to cite this page:

Kerryn Pollock, 'Coins and banknotes - Varied coins and banknotes, 1840s to 1930s', Te Ara - the Encyclopedia of New Zealand, (accessed 29 September 2023)

Story by Kerryn Pollock, published 20 Jun 2012