A September 21 sale at International Galleries will feature a rare note, a Type II King George V 1,000 pound note. These notes were used in Australia in 1914, principally for inter-bank transfers. Two types of these notes have circulated, subsequently bearing two different signature combinations.
The Type II specimen being offered last surfaced back in 1994 following its purchase by Monetarium (Australia). Previously the Type I had sold for $1.1 million US; the Type II had sold back at that time for $225,000 US. It is the only Type II in private hands to ever have been known to exist.
Full details of this will be posted at www.iagauctions.com.
Resource: Bank Note Reporter, August 2008.