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Unique Canadian Banknotes Auctioned in January

23 Jan 2019  Wed

Several interesting Canadian Banknotes were auctioned for impressive amounts recently by Heritage Auctions as well as Stack’s Bowers Galleries. A $1,000 specimen note issued by Dominion of Canada in 1911, graded PMG Choice Uncirculated 64 was auctioned for $43,200 at Heritage’s FUN auction. The blue and black note was printed by the American Bank Note Co. in Ottawa. It has a holed cancellation and features a portrait of King George V. Only two such notes exist today, out of which this one is the only example in private hands.

A similar note, issued in 1920 with a face value of $1 by the Government of Newfoundland was auctioned for $26,400 by Stack’s Bowers Galleries Auction. Graded PCGS Gem New 66 Premium Paper Quality, it’s the finest known note of its type. These notes were issued as there was a shortage of silver coins and almost 99 percent of the notes were redeemed.

A $500 specimen note issued in 1911 by Dominion of Canada featuring a portrait of Queen Mary, graded PCGS Very Choice New 64 was sold by Heritage for $33,600. Only three such notes exist today.

Two $50,000 1924 obverse and reverse proofs featuring the portraits of George V and Mary side by side, graded PMG Choice Uncirculated 64, was sold for $36,000 in the same auction. These “bank legal” or “bank special” notes were never circulated but were used for inter-bank transactions.

A $1 note issued by Dominion of Canada issue in 1898, graded PMG Gem Uncirculated 66 Exceptional Paper Quality, was auctioned by Stack’s Bowers for $25,200. It’s one of the two notes which are graded Uncirculated by PMG. The note depicts traditional Canadian lumberjacks along with portraits of the Countess and Earl of Aberdeen, Isabel and John Campbell Hamilton-Gordon. The Earl served as governor general of Canada from 1893 to 1898 while the Countess was an advocate for women’s rights and health care.

Image Courtesy: Heritage Auctions

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