Uncirculated $1,000 note draws auction interest

An uncirculated $1,000 note from the Bank of Canada’s inaugural 1935 Series is attracting some interest from bidders in an upcoming sale by Heritage Auctions.

Certified as Choice Uncirculated -64 by Paper Money Guaranty (PMG), the note (BC-19) is estimated at $15,000 US-plus as Lot 281777. It’s one of 42 Canadian paper money lots offered in the April 30 World Paper Money Fair Signature Auction.

“As the highest denomination of the 1935 series, this banknote is rare in any grade,” reads the lot description. “Only 66,500 notes were printed in English, and most were redeemed only a few years after issue.”

The 1935 note on offer this month is “bright and vivid, and the centering is much better than typical,” auctioneers said, adding it’s just one grade point below the highest-graded example Heritage has offered.

As of April 14, 15 days before the auction, the lot reached $13,500 US ($16,200 with the buyer’s premium) in pre-bidding.

More than 50 people are tracking the lot’s activity via ha.com.

A set of front (top) and back (bottom) proofs for the Dominion of Canada’s never-issued 1901 $1,000 note is estimated at $18,000 US-plus as Lot 28169.

1901 $1,000 PROOFS

Lot 28169 offers another piece of $1,000 bill history.

Described by auctioneers as “excessively rare,” a set of front and back proofs for the Dominion of Canada’s never-issued 1901 $1,000 note (DC-33P) is expected to bring at least $18,000 US (about $22,500 Cdn.).

Certified by PMG as Choice Uncirculated-63 EPQ (exceptional paper quality) and Choice About Uncirculated-58, respectively, the front and back proofs were produced for a note “that was never issued and therefore only known in Proof or Specimen form,” according to auctioneers.

“The face proof features a portrait of Lord Frederick Roberts, a British soldier who was one of the most successful commanders of the 19th century. This face proof does not have the green tint planned for issued notes and does have a couple of as-made cut outs. The back proof, which displays a vivid green overprint, was previously mounted and has a missing top left corner. However, those minor flaws are more than offset by the rarity and desirability of this significant artifact of Canadian financial history.”

As of April 14, pre-bidding reached $9,000 US ($10,800 US with buyer’s premium).

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