Came in the mail today! It's a mid-grade example because the cost of the high grade ones are out of my budget. This one was about $65 whereas a "66" would run me $1500.
Great looking bill, I could see why it's so collectible! I've never ever seen bill with a man specifically engraved as front runner on a bill. Was it a common practice at that time? I mean was he a president or something?
Man! I was way off on the "66"! (w/ rare signature which mine isn't): http://www.icollector.com/1935-Canadian-Bank-of-Commerce-5_i9548460
In my catalog, this is the description of the images: Face Design: Allegorical group: Mercury with "Architecture" at left and "Invention" to the right. Back Design: Mercury/British Crown over Bank Seal/Ceres
I bet it's wonderful to finally hold this in your hands. It certainly is nice to see that larger scan (and I won't even comment on the 66 you linked ). Gotta love the allegories! Dave
One of my favorite collectors (now deceased) Mr. Tom Flynn began adding Canadian Notes to his collection. There are many with outstanding designs such as this one that is very attractive. High graded notes like this are almost as expensive as some of the US Large Size notes if not more! Simply beautiful vignettes... thanks for sharing these. RickieB
Stunning design on this note. Congrats on the acquisition! The older Canadian notes are as exquisite as the older US notes in their designs. Thanks for posting this for us to see.
The Bank of Commerce and many other Canadian Chartered banks issued notes up to the 1930's. The Commerce note is my favourite. I'm jealous! Another good one would be Molson's Bank, which merged with the Bank of Montreal in the 1920's. If I live a good life, l will own one before I die. For my American friends who don't drink: Molson's is still one of the largest brewers in Canada, so it would be the equivalent of the First National Bank of Budweiser. And yes, Molson Bank was a real bank, and issued notes!
Interesting, were the Molsons note scrip that was used in company owned stores or were they widely accepted?
No, it was a Chartered Bank, just a part of Molson's business interests. Molson's Bank secured its charter in 1855, under the Free Banking Act, which had been introduced in the legislature by the Hon. W. H. Merritt. According to its terms, banks were to be established under a system analagous to that of the United States. Later the bank procured a charter to conduct its business in the same manner as the older banks. The first president was William Molson, with whom was associated his brother, the Hon. John Molson. By 1890 the bank had a paid-up capital of $2,000,000. In October, 1924, the Bank of Montreal arranged to take over Molson's Bank, and to give 2 shares of its own stock for 3 shares of Molson's stock, in addition to a bonus of $10 for every share of Molson's stock. At this time Molson's Bank had an authorized capital of $5,000,000, of which $4,000,000 was paid up, and a reserve fund of $5,000,000. Source: W. Stewart WALLACE, ed., The Encyclopedia of Canada, Vol. IV, Toronto, University Associates of Canada, 1948, 400p., p. 316.
Widely accepted. In fact, the Molson's were in Banking two times. First as a private bank from 1837 to 1938. Then again in 1853 until 1855 as a "free bank" under the Free Banking Act until it received it's provincial charter and then continued as a chartered bank until it was acquired by the Bank of Montreal in 1925.
I'd love to get a Molson's note but they are sure hard to come by. Most are $500 and up. Lots of replicas for sale as well.
Around 1985 or so I was asked to sell some canadian notes for an guy i knew, I wish I had them now they would be worth more than I got back then. I remember the $5.00 note you pictured and I had the 10 to go with that. But that was long ago. good luck on those bills.
