Rare Bank of Canada $500 Note Prominent in March 7-8 World Paper Money Auction

The rare Bank of Canada $500 1935 BC-17 English Text PCGS Banknote About UNC 53 PPQ will sell at Heritage's March 7-8 World Paper Money Signature® Auction. According to the Bank of Canada, $1, $2, $25, $500, and $1,000 will no longer be accepted for transactions on New Year's Day 2021. But the notes were still valuable. Canada has many unredeemed notes, but few are as rare as the 1935 $500 offered in the Heritage World Banknote Signature Auction.

In March 1935, Canada's central bank, the Bank of Canada, opened. Its early issuance were small banknotes to replace the larger notes produced by the Dominion of Canada and government-chartered private banks, explains Heritage Auctions Vice President of Numismatics Dustin Johnston. Of the denominations issued, which ranged from $1 to $1,000 with French or English text, the $500 had the lowest print total in both languages: 20,900 in English and 5,000 in French.

Few $500s exist in any language, therefore any given one is a prize. Its About Uncirculated grade and PPQ authenticity make it a gem. It's the best public auction offering ever. The 34th edition of Canadian Government Paper Money states that only 12 instances are in private hands. Heritage, the world's top auctioneer of World Paper Money, last sold a $500 in 2005.

The high-grade Saudi Arabian Monetary Agency 50 Riyals 1961 / AH1379 Pick 9a PMG Choice Uncirculated 64 EPQ is an example. The 1961 Saudi Arabian Monetary Agency series, including this 50 Riyals, is highly sought for. At cataloging, only three notes in the PMG Population Report had a higher rating than this auction's outstanding “Exceptional Paper Quality” sample. A stunning oil derrick vignette and coat of arms are on the front and reverse.

Turks and Caicos Turks and Caicos government One Pound 12.11.1918 Pick 3b PMG Very Fine 20 is from the British Overseas Territory, a small tropical province that produced banknotes from 1903-30. Jamaican coins and notes circulated afterward alongside other British money. Currency demand were low in the early 1900s due to a population of 5,000. Print runs were small. Few notes remain today. This lovely note has the second of three known dates for this kind and a blank reverse.

An highly rare Iraqi government 1/4 Dinar 1.7.1931 Select 1a PMG The sale includes 14 Middle Eastern pieces, including Very Fine 35. It was the first denomination of the short-lived first series of Iraqi notes, which collectors love. The first signature variety has Young, Askari, and Hornsby's signatures.

A rare Kiau Chau 1 Dollar is one of 75 Chinese auction items. The Deutsch-Asiatische Bank, which discontinued operations in China after World War I, printed a unique one-dollar note at the Tsingtau Branch for local currency in Kiautschou and Shantung.

An intact French Indochina Banque de l'Indo-Chine, Haiphong 100 Piastres 7.3.1914 PMG 18 Very Fine 25 is one of 10 lots from Cambodia, Laos, Guangzhouwan, Tonkin, Annam, and Cochinchina, which were French colonial territories in Mainland Southeast Asia until 1954. Banque de l'Indo-Chine branches in Saigon and Haiphong created banknotes, including this 100 Piastres, the biggest denomination of the Haiphong series with a rare early date.

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