PMG Grades Holy Grail Canadian Notes from the Paradise Collection

Stunning Canadian rarities are the highlights of the outstanding Paradise Collection of banknotes from around the world and across history, which has been certified by Papery Money Guaranty® (PMG®). The collection will be offered by Stack’s Bowers Galleries in several auctions, beginning with one in September 2022. The privately curated cabinet includes several items unparalleled in their quality, prestige and rarity.

Seldom-seen Canadian 500 Dollar notes

The Canadian 500 Dollar notes included in the collection are sure to attract the most attention from bidders in September. Dated 1911 and 1935, the notes rank among the most sought-after examples of Canadian currency.

The Dominion of Canada 1911 500 Dollar note was printed by the American Bank Note Company between 1911 and 1924. Of the 44,000 issued, only four are listed in the PMG Population Report. Graded PMG 15 Choice Fine, this note has an estimate of $300,000 to $500,000.

Dominion of Canada 1911 500 Dollars graded PMG 15 Choice Fine Click images to enlarge.

The front of the note features a portrait of Queen Mary, who became Queen of the United Kingdom in 1910, leading some to refer to it as the “Queen Mary note.” Rather than bearing an engraved signature, the notes were signed by hand after being delivered to the Dominion of Canada’s Finance Department. The auction also features a Specimen example of this note.

Meanwhile, the Canada, Bank of Canada 1935 500 Dollar note was the first of its kind issued after that bank started operations in March 1935. The Canadian Bank Note Company printed 20,900 examples. According to the Charlton Standard Catalogue of Canadian Government Paper Money that was issued in 2019, only 11 copies of the note are known to be in private collections. The note features a portrait of Sir John A. Macdonald, who was the first prime minister of Canada.

Canada, Bank of Canada 1935 500 Dollars graded PMG 20 Very Fine Click images to enlarge.

Graded PMG 20 Very Fine, it has an estimate of $100,000 to $200,000. Its low serial number of 00100 is a fancy one: It’s Binary (all ones and zeros), Radar (the same forward and backward) and Rotator (the same when rotated 180 degrees). This particular note is an English version; the Canadian Bank Note Company also printed 5,000 examples of the note in French, of which none are known to be held by private collectors.

"PMG is thrilled to be a part of this amazing pair of Canadian $500 notes featuring the 'Queen Mary' and the 1935 issue," said Chad Hawk, PMG Grading Finalizer. "Notes of this caliber are a rare privilege to see and opportunity to acquire, which are sure to create excitement come September."

Rare notes from Portuguese India

The Paradise Collection also includes a rare Portuguese India 1924 500 Rupias Specimen note graded PMG 63 Choice Uncirculated. It has an estimate of $15,000 to $25,000. PMG has graded a total of five of these notes, with only one receiving a higher grade.

Portuguese India 1924 500 Rupias Specimen graded PMG 63 Choice Uncirculated Click images to enlarge.

These notes were issued by Banco Nacional Ultramarino, a Portuguese bank that served many of the nation’s former overseas provinces. The 500 Rupias was the highest denomination issued by the bank as part of its 1924 series. It was printed in London by Thomas de la Rue and features an elephant on the front. Non-Specimen examples of this note are virtually unknown.

These and other rarities from the first group of notes from the Paradise Collection will be offered during the Fall Maastricht show. Lot viewing will take place at the Fall MIF World Paper Money Fair in the Netherlands on September 23 and 24, 2022.

“The offering rivals many of the big-name world banknote collections of the past and will certainly grab the attention of every prestigious banknote collector, as the extensive nature of the highlights caters to everyone,” reports Aris Maragoudakis, Director of World Paper Money at Stack’s Bowers Galleries.

Other PMG-certified highlights from the Paradise Collection in the September auction include:

• a Province of Canada 1866 1 Dollar graded PMG 12 Fine, with an estimate of $5,000 to $7,000
• a Canada, Imperial Bank of Canada 1886 5 Dollars graded PMG 12 Fine, with an estimate of $7,500 to $12,500
• a Canada, Canadian Bank of Commerce 1898 100 Dollars Specimen graded PMG 58 Choice About Uncirculated, with an estimate of $5,000 to $10,000
• a Canada, Royal Bank of Canada 1913 100 Dollars graded PMG 30 Very Fine, with an estimate of $6,000 to $8,000
• a Canada, Bank of Nova Scotia 1929 100 Dollars graded PMG 15 Choice Fine, with an estimate of $10,000 to $15,000
• an Egypt, National Bank 1913-19 100 Pounds Specimen graded PMG 63 Choice Uncirculated, with an estimate of $7,000 to $10,000
• an India, Reserve Bank ND (1959-70) 100 Rupees Persian Gulf Note graded PMG 53 About Uncirculated EPQ, with an estimate of $10,000 to $15,000
• a Nicaragua / William Walker Military Scrip 1856 50 Dollars graded PMG 30 Very Fine, with an estimate of $20,000 to $30,000
• a Portuguese India 1906 50 Rupias Specimen graded PMG 63 Choice Uncirculated EPQ, with an estimate of $12,500 to $17,500
• a Portuguese India 1924 100 Rupias Specimen graded PMG 63 Choice Uncirculated, with an estimate of $12,500 to $17,500

All estimates are provided by the auction house.