A rarely seen $2 Newfoundland banknote exceeded its estimate by five times as the top-earning Canadian lot at an Oct. 20 Heritage Auctions sale.
The 1912-13 Newfoundland government cash note (NF-10c) could be redeemed at the Bank of Montréal in St. John’s, the seat of government for what was then a British colony.
“The 1912-13 series of Newfoundland government notes are very popular, and the higher denomination notes are seldom seen,” according to auctioneers, who added the $2 value serves as the series’ second highest denomination.
PMG certified the note, which auctioneers called “an important opportunity to acquire a seriously rare type”.
It was the first example offered by Heritage and the only example listed in the Paper Money Guaranty (PMG) Population Report. PMG certified the note, which auctioneers called “an important opportunity to acquire a seriously rare type,” as Very Fine-25.
From the Harry Eisenhauer Collection, it brought $20,400 US (about $28,000 Cdn.), including buyer’s premium, on a $4,000 US estimate. Overall, across 513 lots, the World Paper Money Signature Auction realized $1.927 million US (about $2.647 million Cdn.) from 885 bidders.