Extremely Rare "Queen Mary" DC-19 $500 1911 Canadian Note Realizes $322,000 at Long Beach.

In the recent currency auction conducted September 17th - 19th 2008 by Heritage Auction Galleries in conjunction with the Long Beach Coin Expo, Canadian Paper Money history was made on Wednesday night when a DC-19 1911 $500 "Queen Mary" graded Very Fine 20 by PMG, one of only three examples of its kind known, achieved the astonishing price of $322,000 after a bidding war between several determined phone bidders outlasted a strong Internet bidder with the bid opening at the $140,000 level. This realization is an all time record for a piece of Canadian paper money. The consignor of this note, a Canadian who wishes to remain anonymous, found the note two decades ago tucked in the proverbial old book. Unaware at that time of its significance, the note was set aside and he came across it again when it was observed in some old personal papers waiting to be shredded. After contacting a local Canadian dealer, who attempted to purchase it for $15,000 Canadian, the consignor realized that this item had substantial value and contacted Heritage, where he was told that the item likely would realize over $200,000, and the rest is history.

Canadian notes have shown marked increases in value in recent years, with rarities starting to generate higher prices, which are now standard south of the border. Our next Signature auction featuring rare Canadian currency will be held as the official auction of the Florida United Numismatists show in Orlando, Florida in January of 2009. Those interested in consigning notes to this landmark event can reach us at 800-872-6467, ext. 1001 or can contact Michael Moczalla directly at (800) 872-6467, ext. 1481.

Heritage Auction Galleries is the world's third largest auction house, and by far the largest auctioneer of rare numismatic collectibles, with annual sales over $600 million, and 400,000+ registered online bidder members. For more information about Heritage's auctions, and to join and gain access to a complete record of prices realized, along with full-color, enlargeable photos of each lot, please visit www.HA.com.