Monday, December 15, 2008
Extremely Rare Kangaroo Island Banknote
LKCA World Paper Money Auctions
Lot #6010 Ending December 9, 2008
Kingscote, Kangaroo Island South Australian Company
P-NL 1 Pound 1.7.1836 Grade EF/AU
I usually do not write this long a description, but then again I had never seen a note from this remote place. This piece was found in an unlikely location, and when Lyn asked me if I had ever heard of Kangaroo Island I admitted that I had not. This piece has some great history behind it.
Kangaroo Island (near Adelaide) was discovered by Captain Matthew Flinders on March 2, 1802. No island dwellers were found, but an abundance of food in the form of kangaroos was sighted. In his journal, Flinders stated that "the whole ship's company was employed this afternoon in the skinning and cleaning of kangaroos. After four months' privation they stewed half a hundredweight of heads, forequarters and tails down into soup for dinner, on this and the succeeding days, and as much steak given, moreover to both officers and men as they could consume by day and night. In gratitude for so seasonable a supply, I named this south land 'KANGAROO ISLAND'."
Between 1806 and 1836, Kangaroo Island was occupied intermittently by whalers and sealers, and also permanently by runaway convicts, ship deserters, farmers, and others. During this time, Americans came and left the island. William Walker, of Nicaragua fame, was among the settlers.
Henry Wallen, better known as 'The Governor', settled near Cygnet River in 1816. When Captain Morgan came on the barque Duke of York on July 27, 1836 at Kingscote, Wallen's governorship ended and was replaced by Samuel Stephens, manager of the South Australian Company.
Today, Kangaroo Island remains inhabited. There is even a Kangaroo Island Football League!
Uniface; kangaroo at upper left. Couple slight residue areas on back. Two "X" over signature area; with neither serial number nor signature. Text states "On behalf of the Directors of the South Australian Company I promise to pay the bearer in demand either in cash or upon London, at my option, the sum of 1 Pound Sterling". In doing research, I found out there are other denominations in the series; all are very rare.
This is the first of three extraordinary rarities from South Australia. Each has an extremely conservative estimate and each is worthy of the finest collections, whether public or private. This Kangaroo Island treasure is something I certainly do not expect to be able to offer again.
Estimate: $12,500.00 - $25,000.00