Shinplasters

News: Welcome to the Canadian Paper Money Forum.

If I took my 1937 Osborne/Towers $1 note (UNC of course) to the bank, because it is a Bank of Canada note, they would have to give a nice loonie for it. Question is, what about my shinplaster, because its Dominion of Canada, would they have to honour it or am I out 25 cents?

thx

If I took my 1937 Osborne/Towers $1 note (UNC of course) to the bank, because it is a Bank of Canada note, they would have to give a nice loonie for it. Question is, what about my shinplaster, because its Dominion of Canada, would they have to honour it or am I out 25 cents?

thx

They might even give you 4 shiney quarters for it if you ask nicely. As for the shinplaster I am sure anyone here would give you a quarter for it, so don't worry you won't lose either way

That said..., both are worth a few times face value on the collector market. Offer them for sale here and I expect that you'll be pleasantly surprised.

Woodguy62, that's a good question?
Yes i believe that if someone were to return a 25¢ note to the bank they would get a shinny quarter even though it is a dominion note. I think that you can still return dominion notes back to the bank and get only face value. Then the bank returns them to the bank of canada to be destroyed. Sad, yes! But hopefully people will in general be smart enough to hang to them, or of course put them up for sale for collectors who love dominion notes.

Thanks, what I was really asking is if shinplasters are still legal tender.

I didn't think you could use Dominion Of Canada money anymore?

Nope, still completely legal.

Wow I didn't know that...

Thanks

FYI: No note or coin issued for circulation from any government of Canada (Province, Dominion, Bank of Canada ) has ever been demonitized.

I believe that even paper money issued by the chartered banks is still honoured, as the Bank of Canada "assumed all liabilities", according to the Charlton Standard. I doubt that you would be able to spend the playing card money though .

Some chartered bank notes are still redeemable...

According to the Charlton Canadian Bank Notes, 6th Edition, p.xvi, the Bank Act of 1890 provided for a fund to guarantee redemption of notes from banks that failed after 1890. So, if the bank merged with another to form a bank that is presently in business, or if the bank outright failed AFTER 1890, then the notes are still redeemable. If the bank failed prior to 1890, then they're not redeemable.

At the top-right of the header information for each bank in the CBN6 (and 5, and 4 at least), it tells you quite clearly whether or not notes from that bank are still redeemable.

While notes are technically still redeemable, most chartered banks will likely give you a fair bit of grief if you try to do so, simply from lack of knowledge, and probably thinking "aren't these worth something? Why are you depositing them?" If you want to deposit your chartered notes, sell them to me at $1 over face and make a profit.

You should try spending it at Tim Horoton's.  On second thought, since they wouldn't accept my first series Journey $5, this morning because it didn't have the "face", and told me it was counterfit, I'm sure they wouldn't beleive you that it was real....

Great info. I did not realize the Bank act covered some of the defucnt banks.

To clarify, I do not want to dispose of or sell any of my notes. As for selling them for a dollar over face value, if the dollar is a UNC Dominion of Canada $1, I might consider it.

thx for the info.

To clarify, I do not want to dispose of or sell any of my notes. As for selling them for a dollar over face value, if the dollar is a UNC Dominion of Canada $1, I might consider it.

Just thought I'd make the offer   I hope you realize that I wrote that with tongue firmly in cheek In the unlikely event that you might have considered taking me up on that offer, I'd have set you straight and advised you properly on the catalogue value of the note, etc.

Re: Bank Act - You learn something new every day!