Sold for: Sign-in or Join (free & quick)

    Description

    Scarce 1867 Commercial Bank of Newfoundland £1/$4

    Saint Johns, NF- Commercial Bank of Newfoundland £1/($4) Jan. 1, 1867 Ch # 185-12-02
    The story of this bank and its importance in the financial history of Newfoundland specifically and Canada generally is important enough to quote directly from the Charlton reference: "Established in 1857, this bank, and the Union Bank of Newfoundland, failed in December of 1894 due to mismanagement and poor economic conditions. Almost the entire paper currency then in use in Newfoundland consisted of notes issued by these two banks. Upon their failure, business was at a stand-still and the people in a state of panic until the Canadian banks opened their first branches in Newfoundland. The Newfoundland government assumed the responsibility for the redemption of the failed banks' notes, and the notes of the Commercial Bank continued to be redeemable for 20 cents on the dollar." This redemption accounts for the rarity of notes from this bank, with all issues prior to that of 1888 being especially desirable. This is the earliest issue we have offered from this institution and is sure to generate considerable bidder interest. The signatures also remain quite legible on this note graded PMG Very Good 10.


    Fees, Shipping, and Handling Description: Coins & Currency (view shipping information)

    Sales Tax information  |  Terms and Conditions

    Bidding Guidelines and Bid Increments

    Glossary of Terms

    Auction Info

    Auction Dates
    January, 2013
    9th-14th Wednesday-Monday
    Bids + Registered Phone Bidders: 1
    Lot Tracking Activity: N/A
    Page Views: 336

    Buyer's Premium per Lot:
    17.5% of the successful bid (minimum $14) per lot.

    Heritage membership

    Join Now - It's Free

    VIEW BENEFITS
    1. Past Auction Values (prices, photos, full descriptions, etc.)
    2. Bid online
    3. Free Collector newsletter
    4. Want List with instant e-mail notifications
    5. Reduced auction commissions when you resell your
      winnings 
    Consign now
    • Cash Advances
    • More Bidders
    • Trusted Experts
    • Over 200,000 Satisfied Consignors Since 1976
    Consign to the 2017 November 1 - 3 Eric P. Newman VIII Currency Signature Auction - Dallas.

    Learn about consigning with us

    Heritage Auction Sales staff performed an outstanding service to this first time consignor.
    J.B.,
    Fairfax, VA
    View More Testimonials

    HA.com receives more traffic than any other auction house website. (Source: Similarweb.com)

    Video tutorial

    Getting the most out of search

    Recent auctions

    2017 June 21 - 23 HKINF World Currency Signature Auction - Hong Kong
    2017 June 21 - 23 HKINF World Currency Signature Auction - Hong Kong
    REALIZED $1,149,869