‘Trophy note’ reappears

A highly graded 1935 Bank of Canada $500 note that made its first auction debut – in Canada last September – reappeared at the Heritage Auctions sale on March 7.

Featured as Lot 24057 in Heritage Auctions’ March 7-8 World Paper Money Signature Auction #4049, the coveted banknote sold for $228,000 US (about $307,000 Cdn), including buyer’s premium.  “Any issued example of the $500 is a prize, as only a few are known to exist, no matter the language,” the lot description stated. “In fact, we have offered an issued $500 only once previously, in 2005. This remarkable example is outstanding, grading About Uncirculated with the coveted PPQ designation, confirming originality. A three-digit serial number adds to the intrigue. A famed rarity, with only 12 pieces confirmed in private hands in the 34th edition of Canadian Government Paper Money, this is an extraordinary offering in spectacular, original condition.”

With Serial Number A00562 the auction curtain on the “trophy note” was first raised by New Brunswick’s Geoffrey Bell Auctions at its Sept. 29, 2023 Sale #29. “A superb rarity that hasn’t seen the light of day at any auction,” the lot description stated. Lot 530 sold for $432,000 Cdn. (including buyer’s premium).

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