What's your definition of a "TROPHY NOTE"?

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What is a “TROPHY NOTE” ??

A simple definition of a Trophy Note would be "The sort of note that everyone wants to own but no one wants to sell". They do appear at major auctions from time to time but then they tend to disappear into strong hands for long periods (over 50 years in some cases).

I have listed below what I consider to be all of the requirements that a note must satisfy before it can be labeled as a Trophy Note:

1. It must be very rare in some way, either as a type or because of its superior condition.

2. It must be in an attractive grade (generally F-VF or better depending on its age).

3. It must be entirely original, i.e., never washed, pressed or doctored.

4. It must have great esthetic appeal by virtue of an unusually attractive vignette, a very special serial number (e.g., #000001), or great historical significance (e.g., a Klondyke Gold Rush note).

I’ve taken the liberty of attaching a scan of two chartered notes from my own collection that might just make the “cut” as Trophy Notes. One is a $1 1863 note from THE QUEBEC BANK (original aVF --– only two known without a town overprint**) while the other is a $5 1911 note from THE WEYBURN SECURITY BANK (original crisp EF with three light folds).

** NOTE:  I personally find notes without town overprints to be more esthetically satisfying than the corresponding overprinted notes. However, the overprinted notes may possess more historical significance.

Perhaps members might wish to post scans of some of the Trophy Notes in their own collections (Dominion of Canada, Bank of Canada, and Chartered Banks)?







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Hey Ottawa

Are you only talking about older notes? I have number 1 on a new $5 what about error notes would that be number 5 if they were large errors?

Arthur

Here is one of my favourites.

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If you are willing, I can add your notes to the CdnPaperMoney site. It would help me if you listed the Charlton number for the note though. There's no way I can collect all the notes alone, nor look up each one and get them right.

I've setup the structure and we'll move everything to the official wiki when it gets up and running.

Paul

I think your definition of trophy notes is quite accurate and let me congratulate you on having these notes in your collection. I have seen the Weyburn $5 before but nowhere near as well preserved.

Would you only consider a trophy note if the condition is GOOD/VERY GOOD but is the only one know?

Would you only consider a trophy note if the condition is GOOD/VERY GOOD but is the only one know?

Personally speaking, I would not be willing to assign the description "Trophy Note" to any note which is in an unattractive low grade, even if only one example is known. However, I realize that some people may disagree with me on this point.

As I see it, a Trophy Note is a note that literally hits you in the face as soon as you see it. Bob's Standard Bank 1900 $10 note is a great example of a Trophy Note --- it has the necessary rarity (refer to the Charlton catalogue), it has the necessary condition (apparently an original VF-EF or better), and it not only has a wonderful vignette but also has mind-blowing colour --- a true museum piece in all respects!

Hey Ottawa. Are you only talking about older notes? I have number 1 on a new $5 what about error notes would that be number 5 if they were large errors? Arthur

I must admit that I did have older notes in mind when I opened this post. However, I see no reason why the description "Trophy Note" could not be used for modern notes, e.g., a Devil's Face Serial #0000001 or even a current issue note Serial #0000001. However, personally speaking, I just can't see referring to an error note as a Trophy Note, although some members may disagree with me.

Where was the Weyburn Security Bank located? Aidan.

The Weyburn Security Bank was located in the town of Weyburn (south east of Regina) in the Province of Saskatchewan. I recall driving through Weyburn when I "emigrated" from Edmonton, Alberta to Ottawa, Ontario in 1976!

While on the topic of Saskatchewan, today we often forget that prior to the Great Depression of 1929 and the ensuing "Dust Bowl" conditions on the Canadian Prairies, Saskatchewan had been the third most important province of Canada in terms of both population and economic indicators. Thereafter, Saskatchewan never recovered its early promise: http://en.wikipedia.org/wiki/Regina,_Saskatchewan.

I well recall owning a beautiful 1925 panoramic photo of Rosetown, Saskatchewan, and the number of Cadillacs and other high-end automobiles in that photo made a memorable impression on me! I would imagine that the Weyburn Security Bank had many very wealthy customers while it was in business (from 1910 to 1931 when it merged with the Imperial Bank of Canada).

If you are willing, I can add your notes to the CdnPaperMoney site. It would help me if you listed the Charlton number for the note though. ........ I've setup the structure and we'll move everything to the official wiki when it gets up and running.Paul

Thanks, Paul. I'll send you the images by email in the near future.  

Maybe this is the answer to rachelsprivates' dilemma regarding those who cannot afford a trophy note. Get a third of a trophy note.

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Maybe this is the answer to rachelsprivates' dilemma regarding those who cannot afford a trophy note. Get a third of a trophy note.

 
That's a trophy to you, and that's what counts!

I understand your ideas Ottawa, but I'm inclined to agree with "Rachel_" in that a note for me doesn't have to be expensive, or necessarily a flashy showpiece to be considered a "Trophy note."   The whole concept of what a trophy is got me really thinking, and the fisherman in me would consider a "trophy" note to be a note that:
a) is a found rarity that cost you face value
or
b) is a rare "sleeper" bought at a show or auction (for a fraction of book value)  

When I started collecting notes way back in the 1970's I found a near UNC *RE $2.00 that cost me no more than $2.00  It also got me hooked on collecting notes (the idea that you can actually find a rarity).
I know of a couple colectors on this forum who regularly attend shows and find incredible rarities with very little cost.  Why? Because like a good angler, they're armed with knowledge and patience, and go through inspecting many many many notes to find that 1 prize.  Like a fisherman, they go to these shows early, and catch the "whopper" while everyone's napping (I know cause BWJM caught me snoozing in Paris).

The notes displayed on this thread remind me more of "Blue Ribbon" notes.  That's the best "metaphor" I can think of because: they have a history, are show-stoppers, and a cut above most other notes.  If they were to be judged, they would be very highly rated for their exceptional rarity/beauty.

I understand your ideas Ottawa, but I'm inclined to agree with "Rachel_" in that a note for me doesn't have to be expensive, or necessarily a flashy showpiece to be considered a "Trophy Note".   The whole concept of what a trophy is got me really thinking, and the fisherman in me would consider a "trophy" note to be a note that: a) is a found rarity that cost you face value
or b) is a rare "sleeper" bought at a show or auction (for a fraction of book value)  

I know of a couple collectors on this forum who regularly attend shows and find incredible rarities with very little cost. Why? Because like a good angler, they're armed with knowledge and patience, and go through inspecting many many many notes to find that 1 prize.  Like a fisherman, they go to these shows early, and catch the "whopper" while everyone's napping .......

The notes displayed on this thread remind me more of "Blue Ribbon" notes.  That's the best "metaphor" I can think of because: they have a history, are show-stoppers, and a cut above most other notes.  If they were to be judged, they would be very highly rated for their exceptional rarity/beauty.

Some good comments have been made here, particularly the "Blue Ribbon" suggestion. I used to be an angler of doubtful repute many years ago and I therefore appreciated the fishing analogy!

I think perhaps that my original post was less explicit than it should have been. I was using the word Trophy (large T) as an adjective and not as a noun. There's a big difference between a "personal" trophy (small T) and a Trophy Note. A "personal" trophy might be something like a $5 1979 "33" Test Note in VF that you picked up at a flea market for $10.00. However, such a note, although desirable, would not stand out as anything very special in a dealer's display case at a show. However, a Province of Canada $10 1866 note in VF would definitely be a "show stopper" and would unambiguously be a Trophy Note. Whether or not many collectors could afford to purchase that $10 1866 note is not the issue here --- it's the rarity, quality and desirability of the note itself that matters. Believe it or not, one of those $10 1866 notes showed up at an auction in New Zealand of all places way back in the late 1970's --- it found its way into Jack Veffer's collection at that time and subsequently appeared in the legendary INTERPAM'81 auction in Toronto in July 1981 (estimated at $50,000 by the way, but it didn't sell!)  

I think we all have our personal favorites and these are often items that have particular sentimental interest to us, and usually to us alone. They may be big trophies to us personally but in most cases they wouldn't have any special significance to anyone else. However, a true Trophy Note, by definition, is a note that hits you in the face as soon as you see it and you know that you'll probably never see another one like it outside of an institutional collection.

Most true Trophy Notes outside museums were locked up long ago by specialized collectors who are usually less interested in making a quick profit than in enjoying the "opium" of ownership. We often forget that in the 18th and 19th centuries in Europe serious numismatists usually accepted a loss when selling their material, i.e., they were willing to pay a financial price for the pleasure of ownership (prices didn't creep up relentlessly year after year in those days). Things are a bit different now although we all take a loss from time to time when we get careless or greedy --- even after 35 years of adult collecting I still make careless errors and I'm sure I'm not alone...  

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I've received an email from member justeo asking me to post images of a few Trophy Notes as he has been having trouble posting the images himself. These notes reside in private hands, but outside of North America. Here's the first one, which is fully self-explanatory --- a true "mind blower"!

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Here's the second Trophy Note submitted by justeo (Charlton #385-10-02). Only two fully-issued $5 notes from Banque Internationale du Canada have been reported to date, of which this is one (refer to the Register of Surviving Notes published in the March 2006 CPM Newsletter, page 6). This note is in exceptional condition and is of exceptional rarity -- a true Trophy Note in all respects!

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Here's the third Trophy Note submitted by justeo (Charlton #385-10-04). Only two fully-issued $10 notes from Banque Internationale du Canada have been reported to date, of which this is one (refer to the Register of Surviving Notes published in the March 2006 CPM Newsletter, page 6). This note previously appeared in the American Numismatic Association (ANA) Annual Convention Auction Sale in 1986 (Lot 3023, Realized US$2200.00 plus buyer's fee).

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Here's the fourth Trophy Note submitted by justeo. It's a $10 note of The Metropolitan Bank (Toronto) dated 1902 and signed by Moore at the left (Charlton #485-10-12). According to the Charlton catalogue only two fully-issued 1902 notes are known --- this one and one in an institutional collection. This note clearly exceeds the basic criteria of a "Trophy Note" (just check out its catalogue value!)

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Here's the fifth Trophy Note submitted by justeo. It's a $5 note of The Merchant's Bank of Canada (Montreal) dated 1900 and signed by H. Montagu Allan at the right (Charlton #460-14-04). It's in exceptional condition for this seldom seen issue.

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And here's the beautiful reverse of the above Merchant's Bank of Canada note.

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So there we have it, 5 beautiful Trophy Notes submitted by our colleague justeo. Congratulations, justeo, on having been able to track down some of the rarest and most beautiful Canadian chartered bank notes!

It was a pleasure to have had the opportunity to present these rarities to Forum members on your behalf.

You could also define it some notes that you long long for.  afterall, beauty is in the eyes of the beholder.  In other words,  my trophy note likely is not your trophy note, or vice-versa.
is EVH w/o BPN a trophy note ?

You could also define it some notes that you long long for.  afterall, beauty is in the eyes of the beholder.  In other words,  my trophy note likely is not your trophy note, or vice-versa. is EVH w/o BPN a trophy note ?

Yes, both beauty and trophy notes are in the eye of the beholder. However, I personally feel that for any note to be assigned the coveted title of "Trophy Note" it has to be an "eye popper" in some respect, it has to be rare, it has to be in above-average condition (not a rag, however rare it may be), and it has to be in strong demand, i.e., "The sort of note that many want to own but few want to part with".  In my book, a Trophy Note would be synonomous with a "museum piece", but "Each Unto His Own".

Many collectors who specialize in Bank of Canada notes or Dominion of Canada notes are not interested in chartered bank notes and vice versa. However, that should not really affect the definition of a Trophy Note.

I'm not sure exactly how many $20 1991 EVH w/o BPN notes are in existence but if it satisfies the definition of a Trophy Notes then it is a Trophy Note. However, if it's the sort of note that you could track down and purchase relatively easily by contacting the major dealers and collectors across the country then I would not regard it as a "true" Trophy Note. However, it could still be a "personal" trophy note in the eyes of its owner.

Just wanted to tell you all that you have EXTREAMLY nice notes. As a chartered note collector it gives me great pleasure to see some of the trophys from other peoples collection. As my collection grows I hope to aquire some of these peices to simply have pride of ownership. I do have a couple notes at the moment that could be considered trophies but may lack in one or two criteria.
I have a 1919 Banque Provincial $10 in aEF which only 7 are know and the best is EF. Altough many have put theirs on the market.
I also have a couple such as two 1913 RBC $10 in VF-EF (both signatures), an RBC 1927 $20 signed Neil - Hott  in VF (one of 14 with the best know as VF) and finaly a 1924 Bank of Nova Scotia $5 in UNC.

I know this may not be considered a trophy note by every one but I really wanted to share this with the groupe as I recently found this the other day.  

Its the one and only 1853 Quebec Bank 5 Shillings. Until last month none were known to exist so this is a one of a kind note.

{http://jasonkc.idweb.ca/1853%20Quebec%20Bank%205%20Shillings%20Front.JPG}
{http://jasonkc.idweb.ca/1853%20Quebec%20Bank%205%20Shillings%20Back.JPG}

The "black & white" 1843-1862 issues of The Quebec Bank (Charlton #620-24 and #620-28) are rather complicated. Your note appears to be Charlton #620-28-02-02 ("No known issued notes)". If indeed it is the only known issued example then it is a major "Discovery Note". Moderator Bob, with whom you have no doubt already been in contact, would be able to provide more background on this important piece.

Generally speaking, the "black & white" notes of the 19th century are not particularly popular with most collectors at this time. However, being a Discovery Note, being a distinct type note (rather than just a town overprint variety) and being a complete note in decent condition for the issue, this could most certainly be classified as a Trophy Note in my opinion. The note's appearance could be improved a bit by carefully unrolling the "fold-overs" at the edges and corners ---- please don't wash and press it though!

Congratulations on landing this important note. It all goes to show that there are still some great finds to be made, even after 150 years!

I really don't think one can beat this as an error.

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I really don't think one can beat this as an error.

How 'bout this one Tom?  You might know the chap I bought it from...

Yes indead.  As far as a real trophy replacement note cutting error, this one probably tops it.  As you know, replacements were used to replace errors.  I wonder what error this one replaced.

Tom

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That 1866 $10 note is just gorgeous.    I  recall reading somewhere that only three of them are known,  all on Montreal---is that still correct??   Is there anywhere one can get a nice sharp color picture of this note???
                                                              Bernard Schaaf  aka Newcomer