Description and research notes
Perforated 'SPECIMEN OF NO VALUE' specimen of the 1985–89 100 Dollars note, signed by S.T. Russell as Chief Cashier and printed by Bradbury Wilkinson & Company for the Reserve Bank of New Zealand. Perforated specimens like this were retained in De La Rue and BWC archives for internal control and reference, rarely escaping destruction once design revisions began.
The Russell signature series concluded the paper-based Elizabeth II design, maintaining the Cook watermark and introducing improved security fibers within the substrate. In bright crimson and violet tones, the artistry represents the apex of Bradbury Wilkinson craftsmanship before the polymer era.
PMG 67 EPQ Superb Gem Uncirculated — perfectly centered, fully embossed, and among the finest known Russell perforated hundreds, combining archival rarity with elite condition.