‘Extremely rare’ 1870 £1 promissory note at next weekend’s Regina show

An “extremely rare” £1 promissory note issued by the Hudson’s Bay Company (HBC) in 1870 will be on display at next weekend’s Regina Coin Club Show and Sale.

Issued at Fort Garry during the Red River Rebellion, the note is “one of only a handful” of promissory notes still in existence according to George Manz, president of the Regina Coin Club and a Fellow of the Royal Canadian Numismatic Association. The notes were issued in four denominations, including five shillings, one pound, five pounds and 10 pounds.

“According to George B. Winship’s manuscript, ‘Red River Disturbances,’ Louis Riel demanded that the HBC reopen their business so the colony and its Provisional Government could function properly as the rebellion and the closing of the HBC fort had drastically affected the fur trade and other trade as well,” wrote Manz in the July-September issue of the Regina Coin Club Newsletter, adding Riel “guaranteed to protect the HBC in exchange for a loan of $25,000.”

“According to Winship, the HBC ‘tacitly complied with the demand, but in the matter of the loan they asserted that they did not have that amount of money on hand.’ The problem was solved when it was suggested that HBC Promissory notes could be printed at the New Nation newspaper.”

The Regina Coin Club Show and Sale will be held Oct. 20-21 at the Turvey Centre near Regina, Sask. For more information, click here.

Leave a Reply

Keep up to date with the numismatic community

Sign up to receive our newsletter.

Canadian Coin News

Canada

Canadian Coin News is Canada's premier source of information about coins, notes and medals.

Although we cover the entire world of numismatics, the majority of our readers are Canadian, and we concentrate on the unique circumstances surrounding collecting in our native land.

Send Us Your Event

Running an event? Send it to us and we will display it on Canadian Coin News!

Submit Event →

Subscribe To 26 Issues For Just $47.99/year

Subscribe today to receive Canada's premier coin publication. Canadian Coin News is available in both paper and digital forms.

Subscribe Now

We acknowledge the financial support of the Government of Canada through the Canada Periodical Fund of the Department of Canadian Heritage.