Bank of Newcastle - Banknotes
The Bank of Newcastle was a small business established in 1828 with the purpose of operating as an integral part of a store owned by Frederick Boucher in Newcastle. The business could not be considered to be a banking instution and the note issues are now usually regarded as promissory notes. Many regard the enterprise as no more than a means of obtaining credit from unwary investors. After a short period of prosperity, 'doubtful' business practices led to the closure of the venture in 1830 with Boucher, who moved to Sydney, left with a reputation as a confidence trickster.
The business has some claim to fame as the first country bank in Australia. The experience was probably one of the reasons why branch banking developed in Australian towns, rather the establishment of single, town based institutions.
Reprints using the original plates for the Five Pounds and Pound notes were made in the late 1950's.
