The WC Penfold story dates all the way back to 1830, when an enterprising English book-binder named William Moffit established a small stationery business. Sentenced to seven years transportation in 1823 for stealing tea, Moffit arrived in the fledgling Sydney colony in 1827. When his sentence expired, Moffit set up a business, working as a stationer, book-binder, engraver and copper-plate printer.
His major success was as a stationer, both wholesale and retail. Hand-carved engravings on copper plates were used to produce letterheads, hotel bills, theatre tickets, labels and card for several commercial establishments. He even supplied good, mainly paper, to the Sydney Gazette. Moffit also formed a close relationship with the banks, printing cheque books, bank orders, promissory notes and drafts - something WC Penfold would continue for many years.