1935 Bank of Canada $500 to make auction debut at Toronto Coin Expo

A 1935 $500 Bank of Canada banknote that “hasn’t seen the light of day at any auction” will make its first appearance at Geoffrey Bell Auctions (GBA)’s Sept. 29 sale on the opening day of the Toronto Coin Expo.

Describing it as a “superb rarity,” GBA’s Brian Bell says the auction firm acquired the rare 1935 Bank of Canada $500 at the recent Royal Canadian Numismatic Association convention in Halifax. “This lot is sure to garner interest from around the globe. This trophy note exhibits characteristics of an uncirculated note with simple counting creasing coupled with a hint of circulation,” adds Bell. “This is an excellent opportunity to add a solid blue chip item to your investment portfolio or to highlight your collection.”

The Professional Coin Grading Service (PCGS) has graded the rare $500 banknote (Charlton No. BC-17) as About Uncirculated 53 PPQ.

Available as Lot 530, the note, prominently featured on the cover of the auction catalogue, has a pre-sale estimate of $500,000 to $600,000.

The rare banknote is among 692 lots offered at GBA’s Sale No. 29, with live bidding starting at 5:30 p.m. EDT. Lots can be viewed at the Toronto Reference Library’s Bram & Bluma Appel Salon Sept. 28-29 from 10 a.m. to 4:30 p.m.

The popular Toronto Coin Expo is open to the public at the 789 Yonge St., Toronto library on Sept. 29-30. The show opens on both days at 10 a.m. and closes at 5 p.m. on Friday and 4 p.m. on Saturday. Show owner Jared Stapleton says the two-day event will feature more than 30 professional dealers from across Canada who are selling, buying, and offering appraisals.

Besides the one-day live auction on Friday, GBA is offering a “warm-up sale” on Tuesday, Sept. 26. This sale is available online only at gbellauctions.com.

As for the live auction, GBA says, “This sale features a superb selection of chartered banknotes, copper coins from the Robert Turner collection, Part II of the Glassford error collection, a nice P.E.I. collection and last, but not least, is the finest 1935 $500 on the market.”

GBA has also received a special consignment from the Toronto SickKids Foundation.

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