CPM Forum

General => What's It Worth? => Topic started by: gendis2 on April 15, 2008, 07:09:11 am

Title: Bank of Montreal 1931 $5 - S series
Post by: gendis2 on April 15, 2008, 07:09:11 am

I am seeking some input regarding the value of a 1931 Bank of Montreal $5 note - serial number S1356099.  The condition is likely about VF/VF but the note has a 3/4 inch diagonal tear in the top margin.  A similar note was listed in the C&P auction at the VNS Show in Vancouver (with a $3,000 estimate) and "sold to the book" at $1900.  With the exception of the tear, there are no other problems, and the colour is fairly bright.  I attended the VNS Show but received the note the day following so I couldn't seek input from the dealers.  My Charlton is in Winnipeg.  Thanks

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: Bob on April 15, 2008, 05:43:51 pm

This is an important, and very interesting, note.
Any chance you can share a scan with all of us?

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: gendis on April 16, 2008, 11:02:21 pm

This is the note.  The tear is just above the "f" in Bank of Montreal.  Since returning to Winnipeg, I looked up the note in Charlton.  I think C&P was somewhat aggressive in their estimate of value for their note.  In "Fine" it catalogues $1,350.  Their estimate was $3,000 with a $1,900 reserve.  It didn't sell.

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Title: Re: Bank of Montreal 1931 $5 - S series
Post by: Bob on April 17, 2008, 09:17:40 am

Thanks for the scan - what an interesting note.  This is the 7th to turn up so far.  The significance of the "S" prefix will be published in due course.
The fact that the note in the auction failed to reach the reserve may be an indication that it was priced too aggressively.

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: gendis2 on April 17, 2008, 03:40:45 pm

The note will be offered for sale at the next Manitoba Coin Club show that will take place at the Royal Canadian Mint in Winnipeg on Saturday and Sunday, June 14th and 15th.

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: gendis on June 16, 2008, 11:17:08 pm

The note sold at the Winnipeg Show.  Based on the pricing in Charlton, the note (about VF/VF) may be the best known - although it does have a small (about an inch) tear.  The note was of little interest to a major collector of chartereds in Winnipeg who dismissed the note as a minor variety. 

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: kid_kc79 on June 17, 2008, 01:05:41 pm

May I enquire on the acheived price?

Title: Re: Bank of Montreal 1931 $5 - S series
Post by: gendis on June 17, 2008, 08:46:00 pm

The note was sold to a dealer "as priced" and will likely be offered for sale at Torex and/or the CNA and Atlantic shows.  I don't believe it's fair dealing on my part to disclose the sale price.  But bear in mind the note was sold in Winnipeg where everyone expects (and often receives) a bargain.