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STACK'S BOWERS: CANADIAN BANKNOTESStack's Bowers will be selling A Gentleman's Collection of Canadian Banknotes as part of their Summer 2026 Global Showcase Auction on August 31. Select items are discussed below. -Garrett 
Landmark British Guiana Rarity Only Two in Private Hands BRITISH GUIANA. Royal Bank of Canada. 5 Dollars, 2.1.1913. P-S131. CH #630-34-02. PMG Very Fine 20. An incredible rarity for Canadian Chartered and Commonwealth collectors alike. Collectors may be familiar with the 1920 issue of the Royal Bank of Canada for British Guiana, which is sometimes encountered, but it was not the first. This 1913-dated provisional issue was issued in limited quantities (along with a $20 and $100) following the acquisition of the British Guiana Bank by Royal Bank of Canada in 1914, expanding the operations of this Montreal-based bank into South America. These provisional issues are extremely rare in any format. Of this $5, we are aware of three, including the present piece, with one of those permanently impounded in the National Currency Collection of Canada (which is also overprinted 'Specimen'). The present piece traces its pedigree back to a June 1974 Walter D. Allan sale, which appears to be the last public offering of this note, and in the past 50 years, we are aware of just one other example appearing at public auction, at a NASCA sale in 1987. That is also the note that appears in the Canadian Note Registry twice, with serial numbers 011553/D and 044553/D, but a comparison with the note pictured in Pick confirms it is the same note, reducing the number of known examples to just three. An incredible opportunity for the specialist and an offering we certainly don't expect to repeat anytime soon. PMG Comments "Trimmed, Spindle Holes, Ink Stamp." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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One of Just Six Notes Available for the Bank Major Canadian Rarity CANADA--CHARTERED BANKS. Crown Bank of Canada. 5 Dollars, 1.6.1904. CH #215-10-02. PMG Fine 12. The Crown Bank of Canada formed in Toronto in 1904 and existed for just four years, when it amalgamated with the Northern Bank. Four denominations were issued in 1904, but the $5 is the only denomination that is known in issued form. The present piece is one of just six notes recorded, which is the entire supply of notes available to the collector for the bank. This note, while in heavily circulated condition, still presents well, and the grade seems to be in line with the other examples listed in the Canadian Note Registry. It also traces its pedigree back to the 1986 ANA sale. Considered one of the great rarities in the Canadian Chartered series, a note from this institution has certainly been missing from many great collections assembled over the years. One of those notes where we would not be surprised to see no further offerings for many years. PMG Comments "Annotations." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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One of Three Reported CANADA--CHARTERED BANKS. Exchange Bank of Canada. 10 Dollars, 1.11.1872. CH #245-10-08a. PMG Choice Fine 15. The Exchange Bank of Canada, established in Montreal in 1872, was a fairly short-lived bank with a bad reputation. However, when the bank went out of business, holders of notes were compensated for the full amount, which might explain the rarity of surviving notes of this bank today. This example, with letter overprint, is one of three notes known of this variety, with a letter "E" overprint. Of the three, one low-grade example is in the National Currency collection. The overprint appears to indicate the issuing office, which may have been Exeter, as that branch appears on a few lower-denomination notes known to exist. An important opportunity for the Canadian specialist or the student of Montreal financial history. PMG Comments "Rust, Erasure." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Unique in Private Hands Without Overprint CANADA--CHARTERED BANKS. Banque d'Hochelaga. 4 Piastres, 2.7.1877. CH #360-10-04. PMG Choice Fine 15. Fully printed in French, denomination as 'Quatre Piastres.' Second date of the first issue, after 1874. Extremely rare, with the Canadian Note Registry reporting just four examples of this date. However, we must state that the number includes two notes with 'Trois Rivieres' overprint, which constitutes a different variety. For this variety, without overprint, just two are known: the example offered in the present lot and another, in similar grade, permanently impounded in the collection of the Bank of Canada museum. As such, this is a unique offering and an important opportunity for the Canadian specialist. The note is well circulated, with a tear at the top and mounting remnants on the back, although the paper remains otherwise intact and all printed areas are clearly visible, including the attractive vignettes. PMG Comments "Tear, Previously Mounted." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Iconic 1907 50 Dollars CANADA--CHARTERED BANKS. Merchants Bank of Canada. 50 Dollars, 1.6.1907. CH #460-16-08. PMG Very Fine 20. The 1907 series of the Merchants Bank of Canada is one of the more well-designed series of chartered notes, produced by the British American Bank Note Co. of Ottawa. This rare $50 shows a stag at left, based on the painting 'Monarch of the Glen' by Edwin Landseer. The engraver slightly adjusted the background to give it a more Canadian feel, and promptly forgot that the red deer pictured is native to Europe, not Canada, but in the end it resulted in an impressive and appealing design. A rare type, just six are believed to be in private hands, and this note is surpassed in the PMG population report by just a single finer example. Even circulation, problem-free, with good color and no major distractions. Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Short-Lived Toronto Bank CANADA--CHARTERED BANKS. Metropolitan Bank. 5 Dollars, 5.11.1902. CH #485-10-06. PMG Choice Fine 15. Not to be confused with an earlier bank that chartered under the same name in Montreal in 1871 (and liquidated in 1876), this Metropolitan Bank was established in Toronto in 1902 and existed for just over a decade before it merged with the Bank of Nova Scotia in 1914. Issued notes of this institution are rare, despite a fairly considerable issue. The $5 with Moore's signature at left is probably the most available type of this bank, although there are still fewer than a dozen notes in private hands. With most of those tightly held, opportunities to acquire a note from this institution are few and far between, which is a shame, as the designs are quite pleasing to the eye. This example shows moderate circulation but is entirely problem-free, with good color and originality, and is one of the nicer examples listed in the Canadian Note Registry. Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Finest Known PMG-Graded Example CANADA--CHARTERED BANKS. Bank of Ottawa. 10 Dollars, 1.9.1913. CH #565-26-04. PMG Very Fine 25. The sole finest example for this type in the PMG census as of the time of cataloging, and according to the listing in the Canadian Note Registry, one of the finest extant examples. The Bank of Ottawa merged out of existence less than a decade after this note was issued, and most must have been redeemed, as surviving examples are rare. Even circulation is seen, with good color, and plenty of originality. The paper is strong, and the overall appearance is fantastic, more akin to a mass-produced Dominion of Canada note, and unlike many other such notes from the various Canadian chartered banks. Provenance: From a Gentleman's Collection of Canadian Banknotes.
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CANADA--CHARTERED BANKS. Quebec Bank. 5 Dollars, 1.6.1908. CH #620-48-02-02. PMG Fine 12. A well-circulated but nevertheless rare example from the Quebec Bank with good color for the assigned grade. Different varieties exist for the 1908 $5, with this being the first, with the old back and missing the text 'Founded 1818' on top of the front. This example has two red 'M's overprinted on the front, but it is unclear if this is found on all notes of this variety, as the Canadian Note Registry specifically mentions it for this note only. The note in the National Currency Collection does not have the red letters, so it is possible that this note is unique. Regardless if that is the case or not, it is still a rare variety, with only five examples (with or without the red M's) in private hands. Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Only Issued Example in PMG Population Report CANADA--CHARTERED BANKS. Bank of Toronto. 50 Dollars, 1.10.1929. CH #715-22-78. PMG Very Fine 25. A scarce and attractive bovine-themed issue from the Bank of Toronto. While lower denominations of this series are encountered frequently, the same cannot be said for the $50 denomination, which is rarely seen in the marketplace. This is the only PMG-graded example of the date, which is the highest denomination issued of the series, with its characteristic yellow color on the front and vibrant orange color on the back. While the Canadian Note Registry does not yet list this type, the number of surviving examples is surely in the single digits. Additionally, this is the highest denomination issued by the bank in the 20th century, further contributing to its scarcity. PMG Comments "Erasure, Splits." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Unique in Private Hands CANADA--CHARTERED BANKS. Union Bank of Lower Canada. 2 Dollars, 1.3.1866. CH #740-10-04. PMG Very Fine 25. There were several banks in Canada that had the word 'Union' in their name in the 19th century, including the Union Bank of Lower Canada, established in Quebec in 1865. This $2 note hails from the earliest days of the bank and is the only example of its type in the PMG population report. First variety, with numeral in the underprint on the front. Except for some light staining (mostly visible along the periphery on the back), to be expected for a note such as this, it is entirely problem-free with good originality and eye appeal. The note pictured in the Charlton catalog is permanently impounded in the Bank of Canada museum and is the only example of this type, besides the present offering, that we are aware of. An important opportunity for the Canadian specialist and certainly one of the highlights of this section of the catalog. PMG Comments "Stains." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Small-Town Canadian Rarity CANADA--CHARTERED BANKS. Western Bank of Canada. 5 Dollars, 2.10.1882. CH #790-10-02. PMG Choice Fine 15. The Bank of Western Canada (not to be confused with the earlier, short-lived Western Canada Bank) was founded in Oshawa, Ontario, in 1882 to support manufacturing and exporting business in the region. Just three notes are believed to have been issued: a $5 and a $10 in 1882, and a $20 in 1890. Only six of the 1882 $5 notes are believed to be in private hands, including the present piece. This is one of just two notes of this Charlton number in the PMG population report. More telling, however, is that even though we have offered our fair share of rarities over the years, we have never offered an example of this small institution. An exceptional opportunity for the Canadian specialist to acquire a true 19th-century rarity from what was at the time a fairly small town in Ontario. Provenance: From a Gentleman's Collection of Canadian Banknotes.
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French Text Commemorative Specimen CANADA--BANK OF CANADA. Banque du Canada. 25 Dollars, 6.5.1935. BC-12S. Specimen. French Text. Commemorative. PMG Choice Uncirculated 64. Commemorative issue. French text. Surpassed in the PMG population report by just a single finer example. Exceptional opportunity for the Canadian specialist, along with the other lots in this section. PMG Comments "Previously Mounted." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Difficult $500 Specimen CANADA--BANK OF CANADA. Bank of Canada. 500 Dollars, 1935. BC-17S. Specimen. English Text. PMG Choice Uncirculated 63. Sir John A. Macdonald English text. The two highest denominations, but especially the $500, are extremely rare in issued format. Unfortunately the available supply of specimens is very limited as well, and we suspect this note will be hotly contested. It is surpassed in the PMG population by just two finer examples. PMG Comments "Mounting Remnants Attached." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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Rare French Text $500 Specimen CANADA--BANK OF CANADA. Banque du Canada. 500 Dollars, 1935. BC-18S. Specimen. French Text. PMG Choice Uncirculated 63. Sir John A. Macdonald. French text. The highlight of the specimen section in this catalog, and a note that for all intents and purposes is uncollectible in issued format. As a result, for collectors to complete the series, the extremely limited supply of specimens need to satisfy demand. Just 5,000 notes were printed for circulation, and outside of a piece in the Bank of Canada museum, none appear to be known in private hands. This specimen is surpassed in the PMG population report by just two (slightly) finer examples. An extremely exciting opportunity many will have been waiting for. PMG Comments "Previously Mounted." Provenance: From a Gentleman's Collection of Canadian Banknotes.
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