The first million dollar note was acquired in Noble Numismatics' November 2007 auction, when Lot 2918 - a £1,000 dated 1924 having the Kell-Collins signatures, was bought for $A1, 050,000, which equals to U.S. $945,000. After buyer paid a commission the bid had risen up to $A1, 223,250 (U.S. $1,100,925).

The bank canceled the £1,000 notes, thus using them as a specimen. Till now the note was not included in the Standard Catalog of World Paper Money.

It is interesting to mention that the Australian notes with £1,000 denomination were most often used to settle accounts between banks. These notes were not issued for public circulation. Thus any of such notes in private hands is most probably unique and represents an object that is very sought after by the collectors of Australian banknotes.

What is very interesting is that the million dollar note was the only one to ever appear at action. Noble Numismatics for the first time sold the note in 1998 and received $A86, 000 for it. The same year the note was seized together with some other specimens by the Australian Federal Police. The Reserve Bank of Australia claimed the ownership of the note.

The dispute over the claim occurred and the court proceedings began. The Reserve Bank made an out-of-court statement where it "relinquished its claim in respect of certain bank notes" - "and makes no claim to title in respect of those notes." The federal police returned the Australian specimen to their then owners.

The first million dollar note in Australia features serial number 2A 583383. The Commonwealth Bank canceled the note in order to present it as a specimen. The £1,000 note is graded VF.

Obviously the coming of Australia's first million dollar note was only a matter of time and Australian collectors have been waiting for this moment all year.

Great prices were also paid for other Australian notes, including:

- a compete set, $1-$50 Phillips/Whee1er (1974) type 3 specimen set in a UNC (Standard Catalog of World Paper Money Nos. P-42as through P-47as) - $A98, 000 (U.S. $88,200)

- $20 Fraser/Evans No 0063 AA 94 000000 in UNC (P-53as) - $A48, 000 (U.S. $43,200)

- $100 Fraser/Evans No 0063 AA 94 000000 in UNC (P-55as) - $A40, 000 (U.S. $36,000)

- $50 Fraser/Evans No 0063 AA 94 000000 in UNC (P-54as) - $A39, 000 (U.S. $35,100)

- $10 Fraser/Evans No 0063 AA 94 000000 in UNC (P-52as) - $A39, 000 (U.S. $35,100)

- $5 Fraser/Evans No 0063 AA 94 000000 in UNC (P-51as) - $A38, 000 (U.S. $34,200)

- $10 Johnstone/Fraser No 0078 AA 00 000000 in UNC (P-45es) - $A18, 000 (U.S. $16,200).

The auction, which besides paper money featured coins and medals, registered sales totaling $A5, 040,000 (U.S. $4,536,000).