CPM Forum
Canadian Notes => Bank of Canada Notes => Topic started by: emsteph on August 09, 2004, 04:03:36 am
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I'm curious as to why there is such a lack of 1935/1937 special serial numbers such as radars or low numbers?
I own a 1937 $10 radar (my friend also), but otherwise I never really see anything on ebay or at shows.
Any ideas?? :-/
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Could just be because of their age. ???
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There were very few paper money collectors back then and nobody saved them. They wore out in circulation and were destroyed just like other notes.
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Plus it took along time to earn say $5 and during the depression not many families could afford to hold on to a note just because the number was different.
There are 1935 low numbers as they were given out as presentations to bank managers and such I believe.
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Tis indeed very odd; I have looked endlessly for these numbers; you often see some 1937 one's that are radars; and I was fortunate to come across and purchase (as everyone knows by now) a 1923 25 cent banknote that is a radar; I also have one that is a repeater note..but other than those two; thats pretty much all I have ever found with "special numbers"..very odd indeed...
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As bob said very few people collected radars then and of course many of the 1937 notes have been since returned to the bank of Canada and then of course destroyed. An important note about the 1935 notes is that for the higher denominations, the serial number only contained 5 or 6 numbers and it is possible to also get only a 6 digit serial number for the lower denomination notes. Case in point is very hard to come by a radar for the 1935 series and theorectically it is not possible to find a radar in denominations $20 and above for 1935 series.
as for low serial numbers, in 1937 (numbers less than 0001999) seemed to have not been kept by the bank of Canada. Yes it is possible to find a 1937 low serial (i saw one once) but its very unlikely.
Anyhow finding any special serial numbers on the 1935 and 1937 indeed will command a very high premium :D
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I would guess that the value of the note would be more in the age than a special serial number, it would be like the original tires on a 64 1/2 mustang, while they would make it more interesting, it's the car that is the main thing being bought. Now, someone may pay more for the tires, while others figure that it's just the way it comes included in the premium price.
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There was a low numbered 1937 Gordon-Towers $100 in yesterday's Jeffrey Hoare auction. It had serial number B/J 0000064, and was well worn, probably only VG. The note was part of lot 476, and the serial number was not reported in the lot description. Enough people spotted it that the lot sold for $360 (I think) against a $200 estimate - taxes and commission would add another 26.5%.
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There was a low numbered 1937 Gordon-Towers $100 in yesterday's Jeffrey Hoare auction. It had serial number B/J 0000064, and was well worn, probably only VG. The note was part of lot 476, and the serial number was not reported in the lot description. Enough people spotted it that the lot sold for $360 (I think) against a $200 estimate - taxes and commission would add another 26.5%.
I seem to have missed this post. I am now the proud owner of this note and I am pleased to say that I purchased it for significantly less than what is reported here.
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26.5% extra charge at auctions? Wow!! That is a lot of extra money, especially if the price of a note is significant.
I can understand why the extra charge as the auction house needs to make a profit, but that would count me out on anything above 50 bucks. That's probably why I don't go... :-[
Another thought.
Why do some folks charge taxes on notes? Isn't it basically a straight trade? Since I'm being charged taxes on buying notes, could I not theoretically charge taxes to the seller on my payment, since this also may consist of notes? :-/
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Another thought.
Why do some folks charge taxes on notes? Isn't it basically a straight trade? Since I'm being charged taxes on buying notes, could I not theoretically charge taxes to the seller on my payment, since this also may consist of notes? :-/
This item has been discussed a few times. I would recommend using the Search tool on keywords such as "taxes", etc. No need to keep asking the same questions and getting the same answers every few months. ;)
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Thanks for the suggestion, but I'm sorry, I could not find any answers to my question in the search engine. :'(
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http://www.cdnpapermoney.com/cgi-bin/yabb/YaBB.pl?board=general;action=display;num=1097939967;start=24#24
Tax laws were mentioned earlier.
Coins that are sold by the mint above face value require the GST/HST on the whole amount. In addition, if it is sold in Ontario, counter sales and mail sales have the addition of the Ont 8% PST on the whole amount including shipping.
The tax laws being followed by the mint are correct and proper.
Coins and notes sold at face value do not have taxes added, and the taxes are added on the whole amount when sold for more than face.
We may not like the tax laws in Canada, and indeed they tend to be very complex at times, and often make little or no sense, but that is what we have.
Same problem with auctions that have a hammer fee.
I thought this had been discussed much more than that, but maybe I remember it from somewhere other than a post. Maybe it was a conversation Rick Simpson, myself and a couple others were having at Torex earlier this year. Doesn't matter...