Rare $5 Bank of Commerce Note Could Fetch $50,000 at Toronto Coin Expo
Geoffrey Bell Auctions Ltd. (GBA) will be offering a number of rare coin and banknote collectibles via floor and Internet bidding on Thursday, September 29 and Friday, September 30. This auction will be held in conjunction with the Toronto Coin Expo happening this weekend on September 30 & October 1. Both events take place at the Toronto Reference Library located at 789 Yonge St.
A star among the auction offerings is a 1901 $5 banknote issued by The Canadian Bank of Commerce in an era where paper money was not printed by the Government of Canada, but instead by chartered banks. The Canadian Bank of Commerce merged with the Imperial Bank of Canada in 1961 to form the current Canadian Imperial Bank of Commerce (CIBC). This note was printed in Toronto but was to be used in the Yukon Territory during the heady days of gold production that was kicked off by the Klondike Gold Rush in 1898.