Weyburn $10 among rare banknotes set to hit the auction block in April

Sale to be conducted in conjunction with  National Postage Stamp and Coin Show

By Mike Walsh

A 1911 Weyburn Security Bank $10 note, “hiding in a collector’s possession for many decades,” will make its public debut at Colonial Acres’ Spring Premier Numismatic Auction.

“This note is pretty special considering it has not been auctioned before and has not been listed in the Canadian Paper Money Society (CPMS) registry, either,” says co-auctioneer Todd Sandham. “This note has been hiding in a collector’s possession for many decades and is now finally seeing the light and will hopefully find a new home with another avid collector.”

According to Wikipedia, “The Weyburn Security Bank was a chartered bank headquartered in Weyburn, Sask. The bank was established by a group of American investors as a private bank in 1910; by 1911 the bank had advanced to the point where it obtained a Canadian bank charter. Over its 30 years of operation, the bank expanded to having assets of $6 million and serving 33 communities. Due to the onset of the Great Depression, in May 1931 the bank was purchased by the Imperial Bank of Canada (now known as the Canadian Imperial Bank of Commerce).”

The Weyburn Security Bank building remains to this day as a provincial heritage property located at 76 3rd St. in the city of Weyburn. Constructed in 1910, the two-storey building features a glazed terracotta façade and stands prominently on a corner location in the city’s downtown. The building remains as a historical tribute to the Weyburn Security Bank, as do the surviving banknotes.

“With only 16 notes known to exist, it’s very rare and, long term, is a great investment alongside a trophy piece for any collection,” adds Sandham. Featured as Lot 987 in the April 5-6 auction, Paper Money Guaranty (PMG) has graded the historic banknote as Very Fine 25. “A bright vibrant note with exceptional eye appeal,” the lot description states. The banknote has a pre-sale estimate of $22,000.

The note is among 1,241 lots available to collectors as Colonial Acres returns with its popular sale held in conjunction with the National Postage Stamp and Coin Show, April 6-7. The live auction will be held on Friday and Saturday evenings while the coin and stamp show, featuring 50-plus dealers from across Canada, will be held on Saturday and Sunday. Both events will be held at the Hilton Mississauga/Meadowvale in Mississauga, Ont.

Sandham, who co-owns the long-established Colonial Acres numismatics with business partner Kirk Parsons, says the spring auction features many other “amazing” banknotes.

“Our banknotes in this auction are very strong and should attract many avid collectors,” says Sandham. “We have an amazing assortment of notes catering to special serial number collectors, solo highest graded notes, rare CPMS registry notes, and a good selection of notes across the entire span of chartered, dominion, and Bank of Canada notes. With over 250 quality lots of paper money in this auction, we feel collectors will definitely find something to satisfy their collecting hobby.”

Take, for example, the 1897 Dominion of Canada $1 banknote featured on the cover of the 90-page auction catalogue.

To read the full story and others in this issue, click here and subscribe now.

Already a subscriber? Click here to continue reading in the digital format.

Leave a Reply

Canadian Coin News


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 $59.99/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.