Up next, a tribute to another note from the 19th Century...The second coin in the Canadian Bank Note series is one based on an 1859 $5 note from the Bank of Western Canada.
1859 Bank of Western Canada $5 Note
(Image Credit: Bank of Canada Museum - National Currency Collection.)The central vignette of the note - Saint George Slaying the Dragon - is the main design element on the commemorative reverse design of the coin. The note was engraved and printed by the American Bank Note Company for the Bank of Western Canada. The original note measures 185 mm (horizontal) by 77 mm (vertical).
The $5 note was part of a short series that included $1, $2, $4 and $5 notes. Though chartered on May 4, 1859, the bank was more of a "scam" than provider of financial services in the community.
Charlton Canadian Bank Notes states the Bank was controlled "by a New York tavern keeper named Paddock, who convinced a respectable old gentleman in Clifton to act as president by paying for his stock. However, the president had no control over the issue of notes, none of which were redeemed."
The Bank of Western Canada only produced notes in 1859. (Thankfully!)
I was a bit surprised to see the Mint use a design from a bank whose practices would generously be described as
suspect. The Bank did, nominally, have an office in Clifton, Ontario (the town changed its name to Niagara Falls in 1881), but it was primarily interested in circulating its notes vs. redeeming them. Such practices led to the Bank's charter being revoked and the Bank dissolved in 1863.
The $5.00 coin was struck on a 99.99% fine silver planchet with a diameter of 36.07 mm and a weight of 23.17 grams; the coin's edge is serrated/reeded. It had an issue price of $69.95 and a maximum mintage of 8,500 - the actual mintage (units sold) was 8,497 (per Mint
Annual Reports) of 2013 (6,234 units) and 2014 (2,263 units). Though dated "2014", the coin was placed on sale November 5, 2013 and was a strong seller from the start.
The Royal Canadian Mint describes the coin's reverse design as:
"...an engraved reproduction of the vignette of Saint George slaying the dragon from the original 1859 Bank of Western Canada bank note. In an ornate frame derived from scrollwork appearing on the original note, the image is surmounted by the face value of "5 DOLLARS." The bottom of the reverse is engraved with the word "CANADA" and the date "2014."
(Not nearly as whimsical as its description for the design on the 2013 Commercial Bank coin!)
The "Saint George Slaying the Dragon" design is a popular one and has appeared on multiple coins and bank notes of the United Kingdom (UK), as well as those of other countries. This popularity helped this Canadian coin be a sell-out and often powers it to a slight premium in the marketplace (vs. the other coins in Canada's Bank Note series).
2014 Bank of Western Canada Silver $5.00 
2014 Bank of Western Canada Silver $5.00 - Beauty Box
The Mint's engraving staff was responsible for the coin's presentation of the note's vignette; no individual was named by the Mint.
I paid $62.00 + $9.82 shipping (CAD) - $71.82 total. The exchange rate converted this to $54.36 (USD). About $9.00 USD above my target, but I went into this endeavor knowing that this particular coin was going to come in over my target average. I expect to do better on the remaining two coins - fingers crossed!
For more of my stories about commemorative coins and medals, including more on Canadian commemorative coins, see:
Commems Collection.
Posted 06/27/2024 09:01 am
