The first known issued example of the Bank of Hamilton’s 1887 $5 note (Charlton 345-12-02) is among 32 lots of Canadian paper money crossing the block during this October’s Paper Money Fair sale.
Certified as Very Fine-20 by Paper Money Guaranty and dated March 1, 1887, the note is offered as Lot 28100 by Heritage Auctions, whose representatives believe it “will generate serious excitement among dedicated Canadian collectors.” The seventh edition of the Charlton Standard Catalogue of Canadian Government Paper Money describes the design as having “no known issued notes.”
“There are no known sales of this type in any format,” added auctioneers. “Interestingly, this note is dated March of 1887, and a totally different design for the same issue is known, which dates December of 1887. Therefore, this type must have had a short issuance, which is evidenced by the small serial number on this note. Despite circulation, all design elements are bright and clear, which includes the manuscript signature at left. Curiously, the handwritten and stamped signature appears to be that of the same person—John Stuart. It appears that during this era, Stuart was both the bank president and either its main cashier or one of the cashiers that signed the banknotes, which is quite an anomaly.”
Described by Heritage as “one of the most impressive and unique banknotes we have ever had the privilege to offer,” it opens with a bid of $5,000 US (about $6,300 Cdn.).