Auction recap: 1935 Series $100 note highlights Torex sale

Prices include buyer’s premium

Last weekend, one of the first banknotes to be issued by the Bank of Canada highlighted a three-session sale hosted by The Canadian Numismatic Company (TCNC) at Torex.

Midway through session one (Lots 1-707), a 1935 Series $100 banknote (BC-16) sold for $86,250 after a starting bid of $50,000. Considered the finest-known example to exist, the note was graded Uncirculated-66 by Professional Coin Grading Service (PCGS), which also affixed its premium paper quality (PPQ) designation to the note.

This “sharp and bright” issue should be considered a museum piece, said auctioneer Eric Paquet, part-owner of TCNC, who added this example was “by far the best example seen and handled by TCNC.”

“Interest in this rarer stuff is on the increase,” said Paquet. “A lot of it has been stored away for many years, and the fact that it’s coming back on the market is very intriguing. There is interest in the market for this material.”

Lot 364 was this $4 note issued by the Dominion of Canada (DC-16) in 1900. It sold for $51,750 after a starting bid of $35,000.

SESSION ONE: FRIDAY, FEB. 24

Other session one highlights included Lot 94, a Ships Colonies & Commerce token (Breton 999) graded Very Fine-30 by Canadian Coin Certification Service (CCCS). Believed to be the finest example of this “excessively rare type,” it sold for $31,270 after a starting bid of $10,000. Its pre-sale estimate was $25,000-$30,000.

Lot 212, a Weir & Larminie token (Breton 568) encased with a one-cent blue Franklin stamp, was also offered in session one. It was graded About Uncirculated-50 by CCCS and sold for $18,400 after a starting bid of $8,000. Its pre-sale estimate was $20,000-$27,500.

Lot 213 was the same Weir & Larminie token (Breton 568) encased with a three-cent pink Washington stamp. This “excessively rare” piece was graded Extremely Fine-45 by CCCS and sold for $18,400 after a starting bid of $8,000. Its pre-sale estimate was $20,000-$27,500.

Lot 223 was an 1820 North West Company token (Breton 925)—struck in copper, holed and with reeded edges—with a grade of Very Fine-30 given by CCCS. It sold for $8,625 after a starting bid of $7,000. Its pre-sale estimate was $20,000-$27,500.

Lot 94 was this Ships Colonies & Commerce token (Breton 999) graded Very Fine-30 by CCCS. It sold for $31,270 after a starting bid of $10,000.

Moving on to notaphily, Lot 296 was a 1901 Royal Bank of Canada $20 note (CH-630-10-02-12) with a serial number reading “024784”. Graded Very Fine-20 by Paper Money Guaranty (PMG)this rare issue is believed to be the only example remaining in private hands. Only three examples are reported in the Canadian Paper Money Society Journal. This example, which sold for $43,000 plus buyer’s fee at the February 2016 Torex Auction, is expected to bring $45,000-$55,000 at the upcoming sale. At the recent Torex Auction, it sold for $29,500 after a starting bid of $25,000. Its pre-sale estimate was $45,000-$55,000.

Other paper money highlights included Lot 364, a $4 note issued by the Dominion of Canada (DC-16) in 1900. According to auctioneers, another example graded Gem Uncirculated-65 by CCCS previously sold for more than $40,000. This example sold on Feb. 24 for $51,750 after a starting bid of $35,000. Its pre-sale estimate was $60,000-$80,000.

Rounding out the highlights of the first session was Lot 508, a 1954 $5 note (BC-31aA) with a serial number reading “AC0000527”. It was graded Uncirculated-64 by PMG. It sold for $25,875 after a starting bid of $20,000. Its pre-sale estimate was $32,500-$35,000.

SESSION TWO: SATURDAY, FEB. 25

Lot 1059 was an 1875H five-cent Small Date coin graded Mint State-65 by PCGS. It sold for $29,500 after a starting bid of $15,000.

Session two (Lots 708-1543) was highlighted by two 1875H five-cent coins.

The first coin, Lot 1059, was of the Small Date variety and graded Mint State-65 by PCGS. Described as “fully brilliant and lustrous,” this lot sold for $29,500 after a starting bid of $15,000. Its pre-sale estimate was $45,000-$50,000.

The second coin, Lot 1060, was of the Large Date variety and graded Mint State-64+ by PCGS. Tied for the highest-graded example by PCGS, it sold for $38,812.50 after a starting bid of $25,000. Its pre-sale estimate was $75,000-$80,000.

More Victorian cent highlights include Lot 1175, an 1875H 10-cent coin graded Mint State-65 by International Coin Certification Service (ICCS). The solo highest-graded example according to the ICCS report, it sold for $29,500 after a starting bid of $25,000. Its pre-sale estimate was $70,000-$75,000.

Lot 1060 was an 1875H five-cent Large Date coin and graded Mint State-64+ by PCGS. It sold for $38,812.50 after a starting bid of $25,000.

Another highlight included Lot 1179, an 1884 10-cent coin in PCGS Mint State-64. A “top six” example, it sold for $25,300 after a starting bid of $22,000. Its pre-sale estimate was $50,000-$55,000.

Lot 1280 was an 1891 25-cent coin in ICCS Mint State-66. Described as “the best of the best” by auctioneers, this coin realized $19,550 after a starting bid of $10,000. Its pre-sale estimate was $30,000-$40,000.

Lot 1306 was a 1915 25-cent coin in PCGS Mint State-65. In a three-way tie for the finest example known to exist, this coin sold for $18,975 after a starting bid of $12,000. Its pre-sale estimate was $35,000-$40,000.

Another Victorian key date example was Lot 1356, an 1888 50-cent “Obverse 3” in ICCS Mint State-64. It sold for $31,625 after a starting bid of $25,000. Its pre-sale estimate was $60,000-$65,000.

Lot 1376 was a 1932 50-cent coin in PCGS Mint State-65. This coin realized $24,725 after a starting bid of $15,000. Its pre-sale estimate was $45,000-$50,000.

Rounding out the session two highlights was Lot 1454, a 1946 $1 coin in PCGS Mint State-65. It sold for $8,850 after a starting bid of $4,000. Its pre-sale estimate was $10,000-$11,000.

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