1939 Five Pounds with the signatories of Sheehan & McFarlane printed in blue (R45)

While George VI ascended the throne in 1936, following the death of his father, the Commonwealth of Australia did not issue its first Five Pounds depicting the new monarch's portrait until 1939.

The notes bore the signatures of Sheehan and McFarlane, Sir Harry Sheehan signing in his capacity as Governor of the Commonwealth Bank and Mr Stuart Gordon McFarlane as Secretary to the Commonwealth Treasury.

Three further signature combinations appeared on Australia's Five Pounds during the reign of George VI.

• Armitage & McFarlane, the signature combination appearing in 1941.
• Coombs & Watt, the combination appearing in 1949.
• Coombs &  Wilson. Issued in 1952, the year of the monarch's death, it was the last signature pairing of the George VI Five Pounds.

This note, the first banknote issue of George VI, has the lowest recorded print run of the entire George VI era (1936 to 1952) and is the scarcest by far.

Not only the scarcest, but the Sheehan Macfarlane signatures were printed in blue with the remaining three signature combinations printed in black.

And while this might all sound a bit pedantic, collectors are noted as having a hawk-eye for detail and the difference in colours, and the fact that the Sheehan McFarlane is the sole blue issue, enhances its collectability and really counts.

This 1939 Sheehan McFarlane Five Pounds is presented in its original state. Meticulous preservation means that it is presented with an amazing depth of colour.

Question: How do you improve upon this pre-decimal gem?

Answer: You can't.