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Topic: 1925 $500 and $1000 Issue (DC-28 / DC-29)  (Read 5521 times)
canada-banknotes
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« on: April 29, 2007, 09:05:00 am »


In reviewing the 1961 C.N.A. Convention Auction Catalogue I discovered two banknote lots that sold for
what seems like a bargain at the time.

The auction was part of the C.N.A.'s 8th Annual Convention that took place at the Royal Connaught Hotel
in Hamilton, Ontario.  The auctioneer was J. E. Charlton.

It should be noted that both these notes were graded AU and the highest grade showing in the current
catalogue is EF for both notes.  Current catalogue for the $500 is $60K and for the $1000 it is $75K.

Price realized at the auction for the $500 (lot 844) was $725 and for the $1000 (lot 845) it was $1250.

I guess the real question is where are these notes today ?  :o

...Arthur


{http://www.davgro.com/images/cpmf/1961_CNA_Lots_844-845.jpg}

{http://www.davgro.com/images/cpmf/1961_CNA_Lots_844-845_Image.jpg}
« Last Edit: April 29, 2007, 09:07:18 am by canada-banknotes »



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« Reply #1 on: May 03, 2007, 09:09:37 pm »

In reviewing the 1961 C.N.A. Convention Auction Catalogue I discovered two banknote lots that sold for what seems like a bargain at the time. Price realized at the auction for the $500 (lot 844) was $725 and for the $1000 (lot 845) it was $1250.

It seems like a bargain today but it was no bargain at the time! It's all too easy to forget that $1250 was a hell of a lot of money in 1961 .... several months of salary for many people. Moreover, the number of people who were willing and able to invest big money in obsolete Canadian paper money at that time could probably have been counted on one or two fingers .... However, the moral of the story is that rarities will continue to advance relentlessly in price whereas "junk will always be junk".

" Buy the very best notes that you can afford and keep them for at least 10 years. " (Richard D. Lockwood, private communication, 1978).
Bernard_Schaaf
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« Reply #2 on: May 12, 2007, 01:16:31 am »

Friends:
               Can any of you verify for me the color scheme of the ISSUED 1925  $500 note???   I have two Charltons,  the 1st and 5th editions, and they both specify  that the obverse has "Colour: black with  BROWN tint" and the reverse has "Colour:  BROWN."  Yet I also have a copy of the cover (only) of the 7th Charlton,  which has a picture of this very note on its front cover, and this note definitely does NOT look "brown" to my eye, but appears to be BLUE.
               Has any one of you ever actually  eyeballed an issued  1925  $500 note?  If so, can you verify for me once and for all what indeed are the colors???
                           Thanks to all,                    Bernard  Schaaf
               
canada-banknotes
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« Reply #3 on: May 12, 2007, 08:03:08 am »


Hi Bernard,

The colour of the 1925 $500 banknote is indeed BLUE.  I have personally seen an example of this note
and have attached images of the front and back of an issued banknote.

I have requested in another thread that Bob Graham make this change in the upcoming 20th Edition
of the Charlton catalogue.

See:  http://www.cdnpapermoney.com/forum/index.php?topic=4781.0

...Arthur


{http://www.davgro.com/images/cpmf/1925_$500_A008203_Front.jpg}

{http://www.davgro.com/images/cpmf/1925_$500_A008203_Back.jpg}



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« Reply #4 on: May 14, 2007, 07:11:55 am »

The $500 note illustrated above was part of the The Herman Halperin Collection that was sold by Bowers & Merena in Baltimore, Maryland, on March 24-25, 1995. It appeared as Lot No. 2079 and sold for US$5,060.00 including the 10% buyer's fee. Again, this price seems woefully low by today's standards but it seemed a lot at the time .... it always does (believe me!).

In the same sale there was a Bank of Canada 1935 $500 note that sold for $9,075. It was graded as VF-EF although it looked more like a F-VF to me on account of several edge nicks & short tears at the top.

{http://images.andale.com/f2/115/106/3433819/2007/5/14/0.jpg}
« Last Edit: May 14, 2007, 07:16:06 am by Ottawa »

" Buy the very best notes that you can afford and keep them for at least 10 years. " (Richard D. Lockwood, private communication, 1978).
canada-banknotes
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« Reply #5 on: May 14, 2007, 07:23:51 am »


Graham,

If you ever decide to sell any of your auction catalogues please let me know before you put them up on
eBay.  I purchased a 1958 and a 1961 CNA auction catalogue from you on eBay many moons ago and
still enjoy browsing through them and imagining.

If I only had a time machine and a stack of circulated 1954 modified notes (VG of course).  I would go back
in time to several of these auctions, with what I know today, and snap up some beautiful notes.

...Arthur
« Last Edit: May 14, 2007, 09:38:56 pm by canada-banknotes »



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Bernard_Schaaf
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« Reply #6 on: May 14, 2007, 09:30:39 pm »

Arthur and other friends in Canada:
               Thank you for the information about the 1925  $500 color scheme.   Is it known whether all the  notes printed were actually released into circulation, or only a portion of them??                                                            Bernard
 

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