Niagara Suspension Bridge Bank Notes What Is This?

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In one of my Grandmother's books, I found an 1840 $3 and $5 note from the Niagara Suspension Bridge Bank.  I'm a senior citizen on disability pension and wonder what these would be worth?  The $3 was issued October 13 1840 by Canada, Province of Canada, District Canada West, City Queenston, printed by Rawdon Wright and Hatch New York.  The paper is thin and is not white but more beige, has one small tear on top edge and light chipping on all four edges with a less than 1/8 inch hole beside the B in the word Bridge.  Has serial number and at the bottom of the note it has in ink G M Mickeu or something.  This note is number 2002 written in fountain pen.  The $5 note was issued October 13 1840 with the same description as above, and condition is paper is thin and more beige, with a small tear on the right edge in the vignette of the Indian archer and one small tear on the bottom edge, and minor chipping on all four edge.  There is a less than 1/8 inch hole above the u in the word Suspension and another above the d in Bridge and a slightly larger hole at the R in NIAGARA.  This note is number 4168 written in fountain pen at the top right where it says No.  It has written in ink what looks like the name G M Mickeu and the word Cash on it.  Thank you to everyone who takes the time to reply.  These notes are very interesting and I wonder what they would be worth?

The 1840 $3 has a book value of $110 in "Good" condition; the 1841 $5  is valued at $75 in "Good" (Queenston, U.C.)   If it has all caps QUEENSTON, U.C. at lower centre the value is $150, and QUEENSTON, UPPER CANADA at lower centre is valued at $1000 in VG (lowest known grade) so probably $500 for Good.  Better grades are worth more, of course, and conversely, values will dive steeply if the notes do not make the low standard for Good.
You were pretty close with the cashier's signature, it's G. (for Gilbert) McMicken who had a very interesting later life as an undercover agent in Manitoba.

Hi Bob,  Thanks so much for your reply.  I don't know if my notes have all caps QUEENSTON, U.C. or QUEENSTON, UPPER CANADA.  I have photos but they don't show the old ink clearly enough.  I will have to find my notes and look at them.  I notice that you are saying that VG is the lowest known grade.  Mine are quite thin and have a few chips etc. but can I then assume mine are VG grade?  Isn't that interesting, that Mr. McMicken became an undercover agent.  I notice you wrote that my $5 is 1841 but I wrote it is 1840, perhaps that was your typo or did you give values for an 1841 note?  My $3 note has written in fountain pen ink ON DEMAND TO and a name that looks like Jn Staynu OR BEARER.  My $5 has the same and a name that looks like K. Woodruff.  On both notes, at the bottom, is written in fountain pen ink what looks like HAMILTON and the word Pres printed on the note.  What does this mean?  Thanks so much.

Hi Bob,   Thanks again for your reply.  Apparently my notes have orange lathework on the back (they are 1840 issues).  Can you comment on these?  What does the orange lathework mean, or what is it?  Does it change the value?  Thanks.  Kathy

I'm just back from Toronto Coin Expo so couldn't respond earlier.
The lathework back is found on the 1840 issue but not 1841.  At that time notes were making the transition from a plain back to a back with something printed on them; there is no other significance.  It increased the cost of note production to the banks so there wasn't an immediate rush to the new innovation of a printed back.  
Joseph Hamilton was president of the bank - nothing to do with the City of Hamilton.
The Woodruff family were prominent in the Niagara area.  I assume that you saw the name used as one of the payees (a line above the McMicken signature).  There are many names used in this regard, of no importance to determining value.
I quoted prices for notes in Good condition, not VG, because as you described them they seem to be pretty rough, with edge chipping etc.  One rare variety (only) is priced only in VG and Fine because that's where the known examples fit; it is entirely possible that either higher or lower grade notes will turn up eventually.
On the $5, Queenston is engraved near the little steamboat vignette at the bottom centre (may also be hand written but it's the engraved Queenston that matters).  It should be easy to tell whether it is all in capitals or not.  Similarly it should be easy to tell whether the note is engraved U.C. or Upper Canada following Queenston.
I hope this is not getting too complicated and that you will enjoy learning about the bank and its people as you do your searching.
 

Hi Bob,  Thanks so much for this extra information and for taking the time to reply.  I will take a careful look at my bank notes to see those details.     On a separate issue (I don't know if I should post separately), I have some .999 fine Silver Olympic Commemorative First Day Covers in leather folders, which I bought in 1977 and have never been out of the leather folders.  I have the invoices.  May I ask what these would be worth?  A coin dealer in Quebec told me $10 but I highly doubt that.  These are in brand new condition etc.  Thanks.  Kathy

You are welcome.
I can't tell you anything about your silver, except that it is now worth about $34 an ounce.  Other members here will know more about it than I.

99% of what the Royal Canadian Mint sells never goes up in value.

Unless it is an extremely low mintage set or coin it may go up in value.  Most of the time the coins Scrap Value is what it is worth. 

Luckily the Silver Spot price is probably more than what you paid for the coins back in 77.

I got out of all things RCM wise.   Sold my small collection of coins and took a hit in the price I paid for all of them except a 1 coin which had an extremely low mintage.

The RCM sells "pretty" coins which are usually all incapsulated and are perfect.  Unlike banknotes which are designed to be circulated the RCM products are designed to stay pretty forever.

The only 2 remaining RCM Coins I have gone up in value... a 1/10th Ounce 999 Gold Coin and a 1 Oz Silver 999 coin.   

When I bought them I paid more than the price in Metal value.. however with the recent increase they are now worth more than I paid.. not because of what they are or look like... but because the price of Gold/Siilver have gone up.

Hi Bob, I'm sorry to bother you again, but I'm confused by your message of September 26 in which you refer to the $5 as 1841.  I have my notes with me now and the $5 is 1840 with Queenston U.C. engraved by the steamboat, Queenston capital Q lower case the rest on the left of the boat and U. C. all upper case on the right side of the boat.  To the right of the U.C. is written in fountain pen ink 13 Oct 1840 and above that is in fountain pen ink cursive (script handwriting not block) Queenston.    The $3 1840 has QUEENSTON all in capital letters after "to I. M. Staynor (that is what it looks like, in fountain pen ink) or Bearer, QUEENSTON 13 Oct 1840, all the rest is engraved except the 13 Oct which is hand written in fountain pen ink.  On this $3 bill, the U. C. is very faint with the U. on the left of the dog's head and the C. on the right of the dog's head.  The QUEENSTON word has little lines in the capital letters making it look more solid.  The U. C. on the other hand are empty inside (if one can say it that way).  Both notes are fully legible and intact but are very thin and have minor chipping on the edges as I described before, and the $3 has a tiny hole in the center and the $5 has two tiny holes in the centre.  In light of the above details, are these notes now worth $1,000 each?  I'm very ill and on a small disability income and these were left to me by my Grandmother, and since I might have to sell them due to illness, I really want to avoid being grossly underpaid for them.  Thanks so much for your time.  Kathy in Ontario   

Hi Gonkman, Thanks for your reply I didn't see it until today as I was in bed ill.  I am very frustrated with Royal Canadian Mint, and also with the stamp people.  Back in the 70's I had spent quite a bit of money on what I thought were investments, and I now learn that my items are not worth much, except as you say it is lucky the spot price of silver and gold has gone up a lot.

Can you suggest where I can find a reliable honest place where I can get a value on my never opened leather folders of .999 fine Silver Olympic Commemorative First Day Covers?  (I'm disabled and can't travel.)

I also have a bronze Captain James Cook Bicentennial Commemorative Medallion 1778 - 1978 never opened.  What is value please, anyone?

I have two of only 2,000 issued Philatelic-Numismatic Covers Limited Edition commemorating the Silver Jubilee of the Accession to the Throne of Her Majesty Queen Elizabeth II incorporating the Official Canada Post Office 25 cent stamp and Royal Canadian Mint Silver Dollar all with certificate of authenticity, dated May 11 1977.

I have a collection of about 12 First Day Covers from 1972 1973 which include The Royal Visit of Queen Elizabeth II to Ottawa 1973.

I have my own childhood coin collection folders Canadian Dime 1937 to date (whatever date that was), Canadian Nickel 1922 to 1960 and 1961 to date (whatever date that was) along with my childhood collection of never circulated Canadian paper money from 1960's and the old silver coins from 1960's and 1967 collection.

If you or anyone can help me value these I'd greatly appreciate it.  I'm willing to buy a book on Canadian Money but don't know which to buy.

Thanks so much for your message.  Kathy in Ontario

Sorry for the mix-up, I don't know how I got the idea the $5 was 1841- you made it quite clear.  This really simplifies things as there are no varieties of the 1840 issue.  In Good condition the $3 has a book value of $110, the $5 is $75.  If the condition is better they are worth more, and of course less if they are worse.  If they were mine, I'd use an on-line auction to dispose of them.

along with my childhood collection of never circulated Canadian paper money from 1960's and the old silver coins from 1960's and 1967 collection.

Just my opinion but all of these questions should really be posted elsewhere since they reall have nothing to do with the Subject
As for banknotes unless you give descriptions or post pictures no one can give you values
As for old silver coins probably around the 60% of spot price per dollar

Hi Friedsquid,  You are perfectly right, I'm sorry.  I'm new to posting on these types of pages and didn't realize I should post again for a new subject.  Thanks.  Kathy