I am not a collector or dealer. It is only my opinion that this banknote would likely be graded as Very Good (VG8) using PMG's published grading system.

The signatures are Henry J. Sheehan, Governor Commonwealth Bank, and Stuart G. McFarlane, Secretary to the Treasury. 

The history on this banknote is that my father served in the U.S. Army during WW2 and saw combat in New Guinea. This is likely the only time he would have come across Australian soldiers and am guessing he traded US currency for Australian currency. My father would often include banknotes in letters home sent to my grandparents during his time in the Pacific. Our family recently began going through these letters and finding his banknotes.  We would like to see these go to someone who appreciates a little WW2 history.