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World Banknotes : Auction 170 : Lot 144

Date Sold Category Lot Description Sale Price

Auction 170
World Banknotes Lot
144
The Bank of Upper Canada, York () Pick S2037 (Charlton Unlisted) dated 1st January 1861 Number 43552, a manuscript signature at lower centre right and with no observable , in a holder graded VF 20 this is a fabulous example of this Exceptionally Rare note. A collaboration of engraving by Rawdon, Wright, Hatch & Edson, New-York on plate patented 30th June 1857 and printed by the n Bank Note Company is the result of this fabulous note in black on green underprint featuring a young portrait of Queen at lower left, seated Britannia with trident and shield with the crest of Upper Canada at right, and at upper centre 2 Allegorical female figures symbolizing Upper and Lower Canada, which united in 1841, and a Lion and a , possibly representing , and 3 crests in the middle. The 3 crests as follows - lower left and right depict the arms of the Provinces of Upper and Lower Canada and the top - surmounted by a , shows the badge of The Order of the Garter, a clear reference to the monarchy. Below the whole allegory is a plinth carrying the words "VICT...TTANNIARM RE DEF"-Victoria, Queen of the Britons, Defender of the Faith. The reverse with an ornate panel and value at centre. An excellent example from one of the first Canadian Banks to issue their own banknotes following the success and the provided model of the Bank of , the very first Bank to issue any banknotes in Canada just following its establishment in 1817, and which in turn was itself following the model of the First Bank of the established in 1791 by Alexander Hamilton, the first U.S. secretary of the . Also, one of the most influential early banks which ended up in a "Bang" in 1866 after having setup close relationships with the government from the moment of its establishment. The first significant bank failure in Canadian history, with its shareholders losing all their capital, which at a time had amounted up to over three million dollars and the government losing another million dollars. Banknotes at the time represented the principal liability of a bank and were redeemable in specie, upon demand. The issue of banknotes was well received by the public and became the principal means of payment along with the fact that they helped mitigate the problems that were associated with having a vast range of foreign coins circulating with different ratings. This note is a bit of an outlier as although featuring Royal portraits and images to relate to Great Britain, the Bank chose to use dollars as their denomination in contrast to others circulating in , , , and that were typically denominated in s, s, and Pence. Online research could not find any of this denomination offered in recent times, with only a few of the lower denominations in similar grades that were so keenly sought after they ended up in the 4 figure range, and the only example that occured is currently in the of the Bank of Canada Museum and these early issues are very unlikely to be seen in much higher grades, infect the current SCWPM prices them only up to the VF grade. Such an early Rarity, especially in issued format, is certainly a 'tasty' find for any serious collector and will most certainly serve as an absolute treasure in their collection. According to an official publication of the Canadian Paper Money Society Journal Volume 50, Number 143 of December 2014 this denomination was ordered May 1861 in Sheet Numbers 34001 - 44000 and October 1861 in Sheet Numbers 44001 - 49000 and was in a total of only 60000 notes
£7,500
Canada The Bank of Upper Canada, York (Toronto) 10 Dollars Pick S2037 (Charlton Unlisted) dated 1st January 1861 Number 43552, a manuscript signature at lower centre right and with no observable overprint, in a PMG holder graded VF 20 this is a fabulous example of this Exceptionally Rare note. A collaboration of engraving by Rawdon, Wright, Hatch & Edson, New-York on plate patented 30th June 1857 and printed by the American Bank Note Company is the result of this fabulous note in black on green underprint featuring a young portrait of Queen Victoria at lower left, seated Britannia with trident and shield with the crest of Upper Canada at right, and at upper centre 2 Allegorical female figures symbolizing Upper and Lower Canada, which united in 1841, and a Lion and a Unicorn, possibly representing Great Britain, and 3 crests in the middle. The 3 crests as follows - lower left and right depict the arms of the Provinces of Upper and Lower Canada and the  top - surmounted by a crown, shows the badge of The Order of the Garter, a clear reference to the monarchy. Below the whole allegory is a plinth carrying the words "VICT...TTANNIARM RE DEF"-Victoria, Queen of the Britons, Defender of the Faith. The reverse with an ornate panel and value at centre. An excellent example from one of the first Canadian Banks to issue their own banknotes following the success and the provided model of the Bank of Montreal, the very first Bank to issue any banknotes in Canada just following its establishment in 1817, and which in turn was itself following the model of the First Bank of the United States established in 1791 by Alexander Hamilton, the first U.S. secretary of the Treasury. Also, one of the most influential early banks which ended up in a "Bang" in 1866 after having setup close relationships with the government from the moment of its establishment. The first significant bank failure in Canadian history, with its shareholders losing all their capital, which at a time had amounted up to over three million dollars and the government losing another million dollars. Banknotes at the time represented the principal liability of a bank and were redeemable in specie, upon demand. The issue of banknotes was well received by the public and became the principal means of payment along with the fact that they helped mitigate the problems that were associated with having a vast range of foreign coins circulating with different ratings. This note is a bit of an outlier as although featuring Royal portraits and images to relate to Great Britain, the Bank chose to use dollars as their denomination in contrast to others circulating in New Brunswick, Nova Scotia, Prince Edward Island, and  Newfoundland  that were typically denominated in Pounds, Shillings, and Pence.  Online research could not find any of this denomination offered in recent times, with only a few of the lower denominations in similar grades that were so keenly sought after they ended up in the 4 figure range, and the only example that occured is currently in the collection of the Bank of Canada Museum and these early issues are very unlikely to be seen in much higher grades, infect the current SCWPM prices them only up to the VF grade. Such an early Rarity, especially in issued format, is certainly a 'tasty' find for any serious collector and will most certainly serve as an absolute treasure in their collection. According to an official publication of the Canadian Paper Money Society Journal Volume 50, Number 143 of December 2014 this denomination was ordered May 1861 in Sheet Numbers 34001 - 44000 and October 1861 in Sheet Numbers 44001 - 49000 and was in a total of only 60000 notes : World Banknotes : Auction 170 : Lot 144
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Canada The Bank of Upper Canada, York (Toronto) 10 Dollars Pick S2037 (Charlton Unlisted) dated 1st January 1861 Number 43552, a manuscript signature at lower centre right and with no observable overprint, in a PMG holder graded VF 20 this is a fabulous example of this Exceptionally Rare note. A collaboration of engraving by Rawdon, Wright, Hatch & Edson, New-York on plate patented 30th June 1857 and printed by the American Bank Note Company is the result of this fabulous note in black on green underprint featuring a young portrait of Queen Victoria at lower left, seated Britannia with trident and shield with the crest of Upper Canada at right, and at upper centre 2 Allegorical female figures symbolizing Upper and Lower Canada, which united in 1841, and a Lion and a Unicorn, possibly representing Great Britain, and 3 crests in the middle. The 3 crests as follows - lower left and right depict the arms of the Provinces of Upper and Lower Canada and the  top - surmounted by a crown, shows the badge of The Order of the Garter, a clear reference to the monarchy. Below the whole allegory is a plinth carrying the words "VICT...TTANNIARM RE DEF"-Victoria, Queen of the Britons, Defender of the Faith. The reverse with an ornate panel and value at centre. An excellent example from one of the first Canadian Banks to issue their own banknotes following the success and the provided model of the Bank of Montreal, the very first Bank to issue any banknotes in Canada just following its establishment in 1817, and which in turn was itself following the model of the First Bank of the United States established in 1791 by Alexander Hamilton, the first U.S. secretary of the Treasury. Also, one of the most influential early banks which ended up in a "Bang" in 1866 after having setup close relationships with the government from the moment of its establishment. The first significant bank failure in Canadian history, with its shareholders losing all their capital, which at a time had amounted up to over three million dollars and the government losing another million dollars. Banknotes at the time represented the principal liability of a bank and were redeemable in specie, upon demand. The issue of banknotes was well received by the public and became the principal means of payment along with the fact that they helped mitigate the problems that were associated with having a vast range of foreign coins circulating with different ratings. This note is a bit of an outlier as although featuring Royal portraits and images to relate to Great Britain, the Bank chose to use dollars as their denomination in contrast to others circulating in New Brunswick, Nova Scotia, Prince Edward Island, and  Newfoundland  that were typically denominated in Pounds, Shillings, and Pence.  Online research could not find any of this denomination offered in recent times, with only a few of the lower denominations in similar grades that were so keenly sought after they ended up in the 4 figure range, and the only example that occured is currently in the collection of the Bank of Canada Museum and these early issues are very unlikely to be seen in much higher grades, infect the current SCWPM prices them only up to the VF grade. Such an early Rarity, especially in issued format, is certainly a 'tasty' find for any serious collector and will most certainly serve as an absolute treasure in their collection. According to an official publication of the Canadian Paper Money Society Journal Volume 50, Number 143 of December 2014 this denomination was ordered May 1861 in Sheet Numbers 34001 - 44000 and October 1861 in Sheet Numbers 44001 - 49000 and was in a total of only 60000 notes : World Banknotes : Auction 170 : Lot 144
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