Banksia baxteri is serotinous, that is, it has an aerial seed bank in its canopy in the form of the follicles of the old flower spikes. These are opened with fire and release seed in large numbers, which germinate and grow after rain. Seed can last for many years; old spikes 9 to 12 years old have been found to have seed that remains 100% viable.
Seeds do not require any treatment, and take 21 to 42 days to germinate.
George, Alex (1999). "Banksia". In Wilson, Annette (ed.). Flora of Australia: Volume 17B: Proteaceae 3: Hakea to Dryandra. CSIRO Publishing / Australian Biological Resources Study. pp. 175–251. ISBN0-643-06454-0.