Weyburn $10 among rare banknotes at this spring’s Colonial auction

A 1911 Weyburn Security Bank $10 note, “hiding in a collector’s possession for many decades,” will make its public debut at Colonial Acres’ Spring Premier Numismatic Auction.

“This note is pretty special considering it has not been auctioned before and has not been listed in the Canadian Paper Money Society (CPMS) registry, either,” says co-auctioneer Todd Sandham. “This note has been hiding in a collector’s possession for many decades and is now finally seeing the light and will hopefully find a new home with another avid collector.”

According to Wikipedia, “The Weyburn Security Bank was a chartered bank headquartered in Weyburn, Sask. The bank was established by a group of American investors as a private bank in 1910; by 1911 the bank had advanced to the point where it obtained a Canadian bank charter. Over its 30 years of operation, the bank expanded to having assets of $6 million and serving 33 communities. Due to the onset of the Great Depression, in May 1931 the bank was purchased by the Imperial Bank of Canada (now known as the Canadian Imperial Bank of Commerce).”

The Weyburn Security Bank building remains to this day as a provincial heritage property located at 76 3rd St. in the city of Weyburn. Constructed in 1910, the two-storey building features a glazed terracotta façade and stands prominently on a corner location in the city’s downtown. The building remains as a historical tribute to the Weyburn Security Bank, as do the surviving banknotes.

“With only 16 notes known to exist, it’s very rare and, long term, is a great investment alongside a trophy piece for any collection,” adds Sandham. Featured as Lot 987 in the April 5-6 auction, Paper Money Guaranty (PMG) has graded the historic banknote as Very Fine 25. “A bright vibrant note with exceptional eye appeal,” the lot description states. The banknote has a pre-sale estimate of $22,000.

The note is among 1,241 lots available to collectors as Colonial Acres returns with its popular sale held in conjunction with the National Postage Stamp and Coin Show, April 6-7. The live auction will be held on Friday and Saturday evenings while the coin and stamp show, featuring 50-plus dealers from across Canada, will be held on Saturday and Sunday. Both events will be held at the Hilton Mississauga/Meadowvale in Mississauga, Ont.

Sandham, who co-owns the long-established Colonial Acres numismatics with business partner Kirk Parsons, says the spring auction features many other “amazing” banknotes.

“Our banknotes in this auction are very strong and should attract many avid collectors,” says Sandham. “We have an amazing assortment of notes catering to special serial number collectors, solo highest graded notes, rare CPMS registry notes, and a good selection of notes across the entire span of chartered, dominion, and Bank of Canada notes. With over 250 quality lots of paper money in this auction, we feel collectors will definitely find something to satisfy their collecting hobby.”

Take, for example, the 1897 Dominion of Canada $1 banknote featured on the cover of the 90-page auction catalogue.

“Although 1897 $1 notes are pretty common overall, it is very uncommon to find this note in Mint State grade,” Sandham explains. “And not only Mint State grade, but the highest graded note by PMG ever. As the solo highest grade at Choice Uncirculated 63, we feel this note is very unique and will garner extra bids and value due to its extreme scarcity.”

One of Canada’s great modern rarities, Lot 525B features the ‘ultra-rare’ 1969 Large Date 10 cents graded PCGS AU-55. Less than 20 pieces are known to exist.

With a pre-sale estimate of $55,000, the auction firm says Lot 998 is a “must-have for any Dominion of Canada collector.”

There are numerous other banknotes available in the auction, which can be viewed in the catalogue and online at colonialacres.com.

The two-day sale also features many sought-after Canadian coins, medals and tokens.

“Overall a great selection of Canadian coins that should allow many collectors to find that missing piece in their collection or upgrade to a nicer piece,” adds Sandham.

This includes Lot 525B, one of Canada’s great modern rarities: the 1969 “Large Date” 10 cents. Graded AU-55 by PCGS, less than 20 pieces are known to exist. There are a few floating theories of how these rare large dates came to exist. One suggests they were created using the original dies from the 1968 design. Another suggests the coins were struck in Philadelphia as samples for Royal Canadian Mint officials. What is certain, says Colonial, is Lot 525B is a rarity that is “rarely presented for sale.” It has a pre-sale estimate of $25,000.

Another difficult coin for collectors to hunt down is the 25-cent 1880 H Wide 0.

“It is super rare to find this in Mint State,” Sandham explains. Graded MS-63, it is only one of two known to be graded Mint State by ICCS.

“It is an incredibly, incredibly scarce coin in this grade,” he says, adding, “A lot of collectors are missing this coin in their collections.”

This key rarity is described as “showcasing delicate rainbow tones throughout … this is a truly exceptional piece not to be missed.” Lot 544 has a pre-sale estimate of $26,000-plus.

Sandham is excited about what awaits collectors in the spring sale, also advertised as Sale No. 115.

 

‘EVERY COLLECTOR … WILL BE PLEASED’

“There is a great selection of numismatic items with such a varied amount of items that every collector we feel will be pleased with,” the auctioneer says. “I think most collectors will find something interesting to bid on in this auction. The consignors did a great job of allowing us the opportunity to showcase their items in this auction. Overall, I think this is one of our best auctions coming up and I look forward to the live event on April 5 and 6.”

Online bidding at icollector.com opens March 15. Viewing of the lots is also open at Colonial’s Kitchener, Ont. store Monday to Friday between March 15 and April 3, from 9:30 a.m. to 2 p.m. Appointments are recommended.

Viewing is also available on April 5-6 from noon to 4 p.m. at the Hilton in Mississauga, Ont. The live auction starts with the 636-lot Session 1 at 5:30 p.m. on April 5. Session 2 opens April 6 at 5:30 p.m.

“We have so many interesting items in this auction that it’s hard to just talk about a couple of items,” says Sandham. “To view the entire listing of items, please either go to icollector.com to view the lots or go to our website and view the PDF of the catalogue.”

For more details, visit colonialacres.com/auctions or call 1-888-255-4565, prompt 5.

 

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