5 pounds 1939
About This Note
This Commonwealth Bank of Australia 5 pounds note from 1939 (Pick P-27b) presents a classic example of pre-decimal Australian currency with elegant Art Deco-influenced design elements. The note displays the typical cream/tan patina of aged paper stock with visible creasing and foxing consistent with circulated collectible condition (F grade). The front features a formal portrait in military attire within an oval cartouche, paired with the Australian coat of arms, while the reverse showcases an allegorical Commerce scene with cherub figures—typical iconography of mid-20th century Commonwealth banknotes.
Common. The 1939 5 pounds P-27b represents a standard circulation issue from the Commonwealth Bank's regular series with no indication of limited print run, recall, or short-lived issuance. The presence of a serial number in the R-prefix range (R 57391272) indicates this was part of the standard production sequence. Notes from this series regularly appear in the collectible market in Fine condition and below at modest valuations. Unless this specific serial number variant or signature combination represents a documented rarity, the note should be considered common in the context of pre-decimal Australian pound notes.
Issued in 1939 by the Commonwealth Bank of Australia during the early years of World War II, this note reflects the formal monetary design standards of the British Commonwealth during a period of significant historical transition. The depiction of Commerce with classical cherub figures on the reverse represents the aspirational economic symbolism of the era, while the Governor's and Secretary to the Treasury's signatures (H.C. Coombs and R.G. Vallance) provide historical authentication of the note's official provenance. This design series preceded Australia's transition to decimal currency in 1966, making it a tangible artifact of the pre-decimal pound sterling system.
The front of the note features a formal male portrait in military dress uniform positioned within an oval frame on the left side, representing a Commonwealth dignitary or historical figure of authority. The right side displays the Australian coat of arms—featuring the shield with the crosses of St. George, St. Andrew, and St. Patrick, along with the Commonwealth star—similarly framed within an ornate oval cartouche. The central field contains the legal tender declaration, denomination markings, and official signatures. The reverse depicts an allegorical 'Commerce' scene rendered in the classical academic style, with cherub or putti figures engaged in mercantile activities, symbolizing prosperity and trade. Ornate decorative borders with scrollwork flourishes frame all four corners of both sides, typical of security printing aesthetics of the 1930s-1940s period. The color scheme employs dark blue/navy printing on a cream/beige paper stock with subtle pink/red tinted background patterning.
Front side: 'COMMONWEALTH OF AUSTRALIA' (header); 'This Note is legal tender for FIVE POUNDS in the Commonwealth of Australia and in all Territories under the control of the Commonwealth' (legal tender declaration); 'COMMONWEALTH BANK OF AUSTRALIA' (issuing authority); 'H.C.Coombs / GOVERNOR' (signature and title); 'R.G.Vallance / SECRETARY TO THE TREASURY' (signature and title); Serial number 'R 57391272' appears twice (top left and top right). Back side: 'FIVE' (denomination word); '5' (denomination numeral); 'COMMERCE' (allegorical scene label). All text is in English.
Steel engraving (intaglio) printing, the standard security printing method for Commonwealth banknotes of this era. The complex line work, cross-hatching, and intricate geometric patterns visible throughout both sides demonstrate the fine detail achievable only through engraved steel plates. The delicate shading in the allegorical Commerce scene and the ornamental borders show the characteristic depth and precision of intaglio reproduction. This note was produced by the Reserve Bank of Australia's printing facilities or authorized security printers employed by the Commonwealth Bank during this period.
This note is signed by H.C. Coombs (Governor) and R.G. Vallance (Secretary to the Treasury), a signature combination consistent with notes issued in the 1939 period. The serial number prefix 'R' and the specific serial 57391272 fall within the expected range for this Pick number and issuing period. No obvious overprints, date variations, or unusual signature combinations are evident from the visual analysis. The Pick catalog designation P-27b likely indicates this is the second major variety of the 1939 5 pounds issue, though without access to detailed Pick catalog specifications for comparative varieties, specific distinguishing characteristics of the 'b' designation cannot be confirmed from visual inspection alone.
