Rare Money Blog

Rare Note in NYINC 2020

Extremely Special CH#55-20-02 1884 5 Dollar Marvel!

By Stack's Bowers Galleries

Author: Stack's Bowers Galleries / Thursday, November 21, 2019 / Categories: Paper Money of the Week

In our Official Auction at the January 2020 New York International Numismatic Convention we will be offering a very special 1884 Bank of British North America 5 Dollar note certified by PCGS Currency.  This extremely rare example is one of only seven pieces known. Two are housed in an institutional collection and another is stamped cancelled. This leaves only four redeemable notes in private hands. The last example sold was in the January 2012 Heritage Signature FUN Auction where it realized $34,500 USD. It was PCGS Certified VF-20. Our January offering is an opportunity that many collectors will wait a lifetime for – the chance to purchase such a highly revered and respected piece of Canadian Banknote history. 

The Bank of British North America was founded in England 1836 as a private institution meant to conduct commerce through certain North American provinces. For 82 years the British Bank of North America succeeded in banking, with over 92 branches. However, World War I imposed restrictions on communication and travel, making it difficult for the bank directors in England to continue operating in the same manner. In 1918, the Bank of British North America was absorbed by the Bank of Montreal. At the time of the merger, the bank had total assets of $78 million. All issued banknotes are redeemable today.

This treasure is certified by PCGS Currency as Fine 15 with comments of “Small Edge Splits,” which are negligible for key notes like this.