Rare Bank of Hamilton $20 note with ‘C’ overprint goes to auction

A remarkable set of Bank of Hamilton $20 and $50 notes, with one note featuring a rare “C” overprint, is among the 1,700 lots of rare and valuable material available at Colonial Acres Coins’ highly anticipated Fall Premier Numismatic Auction.

Colonial Acres’ Sale No. 123 is expanding into three days, from the traditional two, says company co-owner Todd Sandham.

“This auction continues the tradition with many scarce items that will definitely attract active bidding,” he explains. “We’ve added a third session to this auction due to the increased number of submissions we’ve received.”

The Sept. 6-8 auction will be held in conjunction with Canada’s largest coin and stamp show: the National Postage Stamp and Coin Show, slated for Sept. 7-8 at the Hilton Mississauga in Mississauga, Ont.

Lots 787 and 788 feature the hard-to-find Bank of Hamilton notes. The key of the two is the $20 note with the “C” overprint (Lot 787).

“The $20 note is the rare ‘C’ overprint example where the registry only has a population of one in VG-8, while the note up for sale is a (PMG graded) F-15, which makes it the highest grade known,” explains Sandham, who along with business partner Kirk Parsons, owns the long-standing Kitchener, Ont. coin dealership and auction house.

The remarkable $20 note, with a pre-sale estimate of $20,000, has a seven-millimetre tear on the bottom margin near the middle and a pinhole in the “0” of the large “20” on the left side.

The $50 note, PMG graded VF-20, is a test note with a “C” overprint. It also has a tear, and a pre-sale estimate of $15,000.

Sandham says there is increasing enthusiasm for scarcer key dates and high-grade notes from Canada.

“The prices realized for rarer notes and coins have been pushing the market to new highs,” says Sandham.

Additionally, the highest graded Bank of Toronto $20 note is available as Lot 825.

“We also have a rare Bank of Toronto $20 note that has a population in the registry of only three notes known to exist, which will make this newly discovered note No. 4 in the registry,” Sandham explains. “This note is VF-25, which makes it the highest known grade in the registry.” The note has a pre-sale estimate of $20,000.

Lot 839 presents an 1870 Dominion of Canada $2 note in F-12, with only 18 examples known to exist. Described as “extremely rare,” the note has a pre-sale estimate of $25,000.

Another star attraction is a set of 1935 Bank of Canada $500 English (Lot 897) and French (Lot 898) face and back proofs. Both graded by Legacy Currency as Superb Gem mounted on cardstock. The $500 notes were retired by the Bank of Canada in 1935. According to the lot descriptions, collectors possess only nine issued English versions while the French text “is not known to exist in any private collections due to its limited printing of only 5,000.” Both proofs have pre-sale estimates of $15,000.

The auction also boasts a unique consignment of 15 different uncut Bank of Canada sheets of 40 notes. Featuring $1, $2, $5 and $10 notes, they run from Lot 860 to 875.

“This is an amazing collection, encompassing virtually all prefixes and denominations released to the public,” Sandham adds.

Estimates range from $275 to $2,500.

The auction features a fine selection of Dominion notes, including an “extremely rare” PMG F-12 $2 note from 1870 (Lot 839), a rare 1882 PMG VF-20 $4 (Lot 841), and a 1912 $5 note graded PMG AU58 EQP with “great eye appeal” (Lot 853).

Additionally, Sandham says the auction offers a limited number of solid and million-numbered notes, “reflecting the growing interest in replacement notes over the past few years. Collectors will also find a selection of radar, rotator, and low serial number notes, ensuring a wide range of intriguing options for bidders.”

The auction also features more than 100 lots devoted to world coins and paper money.

“We have some Maundy sets, Roman and Hawaii coins, and a great selection of United States silver dollars,” adds Sandham. “Some highlights are 13 high-grade Carson City dollars (Lots 77 to 95) with the highlight being an 1889 CC in EF-40 (Lot 89). We also have some nice United States paper money from the 1870s to 1934, including a $500 note from 1934.”

Lot 119 features a U.S. 1934A $500 mule legacy reserve note with an estimate of $1,725.

Colonial Acres, renowned for its vintage bullion offerings, continues to impress with numerous exceptional lots (Lots 151 to 201).

A highlight is the “ultra-rare” 25-ounce Johnson Matthey Canada silver bar (Lot 197). With a presale estimate of $4,000, the lot description says “it features a prominent diamond logo with crossed hammers and an oval Canada mark at the bottom right. The sophisticated russet patina enhances the piece’s esthetic appeal, adding a touch of elegance and history.”

Canadian coins are also well-represented in Colonial’s fall premier auction with an 1880H five-cent Obverse 2 (Lot 323) estimated to sell for $5,000. Graded by ICCS as MS-64, Sandham says it is one of only two in this grade.

Another “ultra-rare” highlight is Lot 379, a 1921 five-cent coin in ICCS graded VG-8.

“The prince of Canadian decimal coins, this ultra-rare date is seldom offered for sale,” states the lot description. “Bright with underlying tone of soft rose.” It has a pre-sale estimate of $6,500.

Rare Canadian 10-cent coins include Lot 429, a 1908 in ICCS MS-66 (one of only six known to exist) with a $4,000 estimate; a 1911 in MS-67 (Lot 431), one of only seven known, with a $4,000 estimate; and a 1915 in MS-66, one of only nine, estimated to sell for $8,000.

The live and online auction also features notable 25-cent coins like the rare 1913 graded by PCGS as MS-65+, one of only two known in this grade. Lot 504 has an estimate of $6,750. With an estimate of $5,111, Lot 517 offers a 1932-dated 25 cents, also graded PCGS MS-65+. This coin comes from the Pittman sale and is one of only five known.

Lot 574 offers a 1908-dated 50-cent graded PCGS MS-64 from the Norweb collection. The elusive 1948 silver dollar remains a major hunt for many collectors and the Colonial sale is offering four of them: Lots 664 to 667.

A rare 1982 Canada Constitution dollar (Lot 713) with a thin planchet error, starting at $2,000, is another highlight.

The tokens section includes a unique 1812 Tiffin (Lot 754). Normally struck in copper and brass, this token has been struck in silver, making it “a truly exceptional piece not to be missed.” It has a $10,000 estimate.

Sandham says the Colonial auction will also showcase more than 30 lots of “spectacular error coins, notes, and Royal Canadian Mint products.”

Viewing for all three sessions will be available on Friday and Saturday (Sept. 6 and 7) at the Hilton in Mississauga and at Colonial Acres’ store location in Kitchener. Enthusiasts can view and place bids online through icollector.com or Colonial Acres’ app, available on Google Play and Apple’s App Store.

To view all lots in this impressive sale, spanning over three days, click here.