Description

    Excessively Rare 1878 $2 Payable at St. John

    DC-9c $2 1878
    This payable at St. John $2 is one of the great Dominion note rarities. It had an print run of a miniscule 50,000 pieces (by far the lowest of any of the four domiciliary locations) and a mere handful are known in all grades today. In fact, as of 2007, just four of the payable at St. John twos made up the entire census, with three of those notes, according to Charlton, held in institutional collections. As this cataloguer has described notes from the Flynn holdings, we have noticed over and over again the excessively conservative valuations placed even upon the most extreme of Canadian rarities. We do not hold ourselves out as specialists in Canadian currency, but we do have a good working knowledge of relative values of currency from many countries, including the United States, and find the current pricing of Canadian material to be almost laughably low compared to items of comparable rarity from the States, Australia, Hong Kong, or much of the British Commonwealth. When an item of this rarity is priced in three grades (even though only one piece is reputed to be in private hands) and the highest price listed is $7750 in Fine, something is indeed amiss. It remains to be seen when these pricing anomalies will be resolved, but in a world increasingly searching for value in all sectors, our guess is sooner rather than later. PMG Good 6, with the notation "Rust," which we trust refers to a miniscule spot on the reverse that affects nothing.
    From The Thomas M. Flynn Collection


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    Auction Dates
    April, 2008
    17th-19th Thursday-Saturday
    Bids + Registered Phone Bidders: 1
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