DC-19 $500 1911. ... Canadian Currency

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Lot: 12893
Auction: 3502

DC-19 $500 1911. ...

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Sold for:	Sign-in or Join (free & quick) (includes BP) Bid Source: Live: Floor
Ended:	Sep 16, 2008
	Printable Version of Prices Realized for this Auction

Buyer's Premium:	15% of the successful bid (minimum $9.00 per lot)
Auction Name:	*2008 September Long Beach, CA CAA Signature Auction #3502*
Description:	Heritage Numismatic Auctions offers currency in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type:	Currency Auctions of America - Heritage Signature: Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.) This lot is in: Currency Auctions of America - Heritage Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 12001-16154) Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
Item Activity:	3 Internet/mail bidders, 1,962 page views

Description

DC-19 $500 1911
An amazing note which is one of the classic rarities in Canadian currency. Until the discovery of this note there were only two examples in private hands. In fact, this type and denomination is so rare that it is even lacking in the official Bank of Canada collection. The specimen we offer here has been graded PMG Very Fine 20 with mention of minor restorations, which, although present, are exceedingly difficult to detect. Its existence represents a true miracle of survival attesting to the fact that these high denomination pieces were actually used in commerce. If this were a United States issue, where this became only the third example known for the design type, it would easily be a million dollar note. Canadian notes have grown in popularity and, given the performance of the Flynn Collection, the market for true Canadian rarities is beginning to generate prices which are now standard south of the border. The current Charlton catalog places a value on this note in this grade of $250,000 Canadian. Our best guess here is that this "Queen Mary" note will bring a solid six figure price, but if two or more determined bidders decide they have to own it, our estimate will likely be conservative in the extreme. Estimate: $200,000 - $300,000.

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