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$10 1888 Note Design
Face Design: Two Children / Seated Allegorical Female / Sailor Boy holding hat
Back Design: Lathework, Counters, Bank Name and Flowers
This museum quality 1888 Ontario Bank $10 note is one of the rarest and highest quality early Canadian bank notes to have survived. It is an original uncirculated set of face and back printer's proofs which would not normally be available for private collectors to obtain. The face design features two children, a seated allegorical woman, and a sailor boy holding a hat. The back design features lathework, counters, the bank name and flowers.
This was one of the very first notes printed in 1888, and would have been presented to the president or top officials of the bank for approval to proceed to printing notes for circulation, or could have been a sample presented to the original engraver. As is usually the case for proof notes, each note is one sided. Issued notes of this series are also extremely rare, with mid grade circulated notes valued at more than $10,000. This printer's proof is the only way possible to obtain an uncirculated example of this issue.
This note was part of a collection assembled by a prominent Canadian collector over a 40 year period. Notes in this collection included samples from the archives of the American Bank Note Company and Canadian Bank Note Company which were sold through Christie's Auctions in 1991, as well as other notes purchased through prominent auctions and private treaty sales, in some cases from the families of former bank officials and engravers. All the notes in the collection are rare, with surviving quantities ranging from unique pieces up to about a dozen surviving examples.
This complete collection was recently purchased by Canadian Coin & Currency and is being offered to collectors through The Shopping Channel. Notes from this collection provide an unprecedented opportunity for collectors to acquire extremely rare early Canadian bank notes that are seldom available in the marketplace.
THE ONTARIO BANK 1857 - 1906
The Ontario Bank was established in Bowmanville, Canada West, in 1857 (and later in Toronto). It was discovered in 1905 that the general manager had been falsifying the books to hide Wall Street losses that had obliterated the bank's reserves. The bank did not suspend payment, but when difficulties were encountered though some of its lumber accounts, an arrangement was made in 1906 whereby all liabilities were taken over by the Bank of Montreal. Together with certain other banks, the Bank of Montreal assumed all liabilities and paid depositors in full. Criminal charges were laid against the general manager, and he was sentenced to serve time at the Kingston Penitentiary.
• $10 1888 Union Bank Of Canada - Rare Bank Note
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