Rare 1924 ‘bank legal’ specimen to cross block at Torex Auction

A 1924 $1,000 bank legal specimen certified as About Uncirculated-53 PPQ (premium paper quality) is expected to bring $50,000-$75,000 as Lot 170.

A $1,000 “bank legal” specimen issued by the Dominion of Canada nearly a century ago is expected to bring upwards of $75,000 at this February’s Torex Auction. Used by the federal government to move large amounts of money between banks, the 1924-dated bank legal (DC-37S) is offered as Lot 170 of the four-session auction by The Canadian Numismatic Company (TCNC). “For most of the 19th century, Canadian banks physically moved high-denomination, publicly negotiable bearer notes to settle their debts with each other,” explains the Autumn 2016 Bank of Canada Review. Continue reading →

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