In what can solely be described as a monumental second for the world of numismatics, Stack’s Bowers Galleries has introduced the sale of a historic 1870 $2 Canadian observe, payable at Victoria, for an astounding $360,000 ($518,000 CAD). The observe, beforehand thought of misplaced, shattered pre-sale estimates, attracting a value that displays its rarity and significance on this planet of Canadian foreign money. It now joins the ranks of the costliest examples of Canadian paper cash ever offered.
The 1870 $2 banknote, issued by the Dominion of Canada, represents a real numismatic treasure. Graded Alternative Very Advantageous 35 by PMG, that is the one recognized instance of its type, a discovery that excited collectors and historians alike. Its historic significance stems from its designation as “Payable at Victoria,” a element that has lengthy been absent from information, with earlier catalog entries merely itemizing this situation as “No Identified Issued Notes.” Now, due to this outstanding discover, the Charlton catalog entry for DC-3e might be up to date to mirror the existence of this extremely uncommon piece of Canadian historical past.
The Canadian $2 observe was first printed in 1870, a time when western Canada had a sparse inhabitants and few monetary establishments, leading to restricted circulation of paper foreign money. On the time of its issuance, British Columbia was a fledgling province, and Victoria, the capital of British Columbia, was nonetheless rising as a business hub.
Solely 24,000 notes have been reportedly printed and shipped to the Pacific Coast, however all have been presumed misplaced – till this piece just lately surfaced in Europe.
The consignor, who needs to stay personal, commented, “I’m extraordinarily pleased with the job that Stack’s Bowers Galleries did selling the merchandise and presenting it to the general public. The result’s past what I may have imagined.”
Along with its rarity, the situation of the banknote is extraordinary. Graded Alternative Very Advantageous 35 by PMG, this instance boasts vibrant inks, crisp paper, and detailed engravings that stay as vivid as once they have been first printed. Regardless of lightened stains famous by PMG, the general look is phenomenal, making it the best recognized of this significant Canadian situation.
The invention of this $2 Dominion of Canada observe is a defining second in Canadian numismatics. Even the Nationwide Foreign money Assortment in Ottawa doesn’t include an instance of this sort, and previous to this public sale, the existence of a Victoria-payable $2 observe was unconfirmed. Stack’s Bowers Galleries is proud to have facilitated the sale of this world-class rarity, additional solidifying its place as a frontrunner within the numismatic public sale world.
“We’re thrilled to have had the chance to supply such a rare piece to the accumulating neighborhood,” mentioned Aris Maragoudakis, Director of World Paper Cash at Stack’s Bowers Galleries. “This discovery has captured the eye of banknote collectors worldwide, and the ultimate value of $360,000 displays a thriving market that appreciates true rarities. This sale is a end result of the market’s need for this sort of materials, and the work of our crew. Dennis Hengeveld (Director of Consignments and Senior Numismatist) wrote a masterful description and Adem Karisik took cost of selling what was our first Canada-Solely Banknote Sale. This public sale was an ideal first step as we reaffirm our place as a frontrunner in Canadian banknotes.”
The agency’s president, Brian Kendrella, added, “This public sale demonstrates our management in cutting-edge know-how. The sale came about solely on-line, and the outcomes rivaled – and in some circumstances surpassed – these achieved by extra conventional auctions.”
For extra data on upcoming auctions or to view the total outcomes from the January 2025 Canadian Banknote Sale, please go to Stack’s Bowers Galleries on-line at StacksBowers.com.
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