1935/37 $1000 notes

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Question about 1935 and 1937 G-notes:

Charlton says that 1935 $1000 notes were in circulation until 1952, and that's when they were finally replaced with 1937 ones.

Does that mean that the 1937's were only in use for 2 years before being replaced with the 1954's?  Wouldn't that make them much more scarce (and valuable) than the 1935's?

I know, I know, collector demand ultimately sets the price.  I'm just wondering why the 1937's seem to be much more common than they should be.

This is only speculation.

The '35 notes were recalled in '52, leaving the '37 notes the only ones still circulating, my thinking that they were both in circulation together from '37 until '52.

Chances are that they made plenty stock of the '35 notes not anticipating that they would be changed in a couple of years. Likely figured on using them as long as possible as they overlapped with the '37s for 15 years. This would also reduce the need for producing the quota of '37 notes.

Much like our $20 notes. I'm sure one day the '91 version will be recalled by the banks...let's just hope it isn't 15 years too!!

Charlton catalogue on page 187 says:

The 1937 $1000 notes were the last to be released for circulation, when they finally superseded the 1935 $1000 notes in January 1952. The "new" $1000 notes had been printed in 1937 and had been kept in reserve stockpile of the Bank of Canada over the years, as indicated by the Osborne-Towers signatures.

The catalogue also says that 66,500 English 1935 $1000 notes were released, and 7,600 French 1935 $1000 notes were released.   Compare this to just 15,000 1937 $1000 notes released.