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The Australian banknotes now worth more than $250,000

Tony Yoo
·2-min read
Australian notes and coins spilled out on a table.
Some rare Australian notes and coins could be worth a lot of money. (Image: Getty)

A set of Australian banknotes that's just $33 in face value is expected to fetch more than $250,000 at auction next week.

The ten shilling, one pound, five pound and ten pound Australia specimen notes were produced more than 70 years ago and come in a "full leather presentation album" produced by the Commonwealth Bank.

Sixteen pounds and ten shillings, according to the Reserve Bank inflation calculator, is now worth $33.

A one-pound banknote in the set expected to fetch more than $250,000 in the Noble Numismatics auction in Sydney.
A one-pound banknote in the set expected to fetch more than $250,000. (Image: Noble Numismatics)

The item is due to go on auction from Tuesday July 28 at the State Library of NSW and online.

Jim Noble, director of the auction company Noble Numismatics, said there is a good reason why these notes are so valued above all else in next week's sale.

"The highest priced item at the auction is a unique set of four Australian currency notes presented in 1949 to the then secretary to the treasury, George Watt."

A 10-shilling banknote in the set expected to fetch more than $250,000 in the Noble Numismatics auction in Sydney.
A 10-shilling banknote in the set expected to fetch more than $250,000. (Image: Noble Numismatics)

Titanic rescue medal for auction

A medal awarded for rescue efforts on the famous Titanic is also up for auction, expected to attract a price in excess of $12,000.

"The medal is one of a group awarded to a crew member on the RMS Carpathia, which came to the rescue after the great 'unsinkable' Titanic went down on her maiden voyage after hitting an iceberg in the Atlantic in 1912," said Noble.

"Though the famous tragedy was more than a hundred years ago, there are still keen collectors of items directly connected to the terrible event and the sale of the medal has already attracted worldwide interest."

Hundreds of other items are up for sale in next week's session, but among them a bravery medal involved in a critical moment in Australian history stands out.

The award was given to a paratrooper who was involved in the search for prime minister Harold Holt, who went missing while swimming in Victoria.

The medal’s current owner, an Australian Army Vietnam veteran and a member of the Army Red Berets Parachute Display Team, is selling it bundled with 17 other medals and memorabilia. The collection is forecast to fetch $40,000.

The collectibles can be physically viewed Monday at the State Library of NSW in Sydney, before they go on auction online from Tuesday onwards.

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