Value of Canadian Bank Notes
Paper money from The United States has been at the top of the currency pyramid basically since collecting started in the 1950s. The absolute rarest bank notes from other countries usually top out at around $50,000. Some countries can even get into the low six figures. However, a handful of American bank notes are worth more than a million dollars. So how does this relate to Canada? Well many collectors who are fed up with paying significant premiums for United States currency are starting to dip their foot into the world of collecting foreign bank notes. One of the first safe havens is Canada. We have a complete guide about Canadian currency if you would like to learn more about the subject. The highlights are listed below.
Canadian bank notes are easy for Americans to collect for several reasons. The first reason is Canada’s proximity to the U.S. It might be fun to collect Australian or Chinese bank notes, but we are really in the wrong part of the world to see a huge supply of currency from the Eastern hemisphere. You can go to any coin show in the United States and see at least some Canadian currency. The closer you get to Canada, the more you will see.
Another thing Canadian currency have going for it is that the text (except in rare cases) is always in English. Once again, collecting Chinese or Russian notes might be fun, but if you don’t speak those two languages then you are really limited in how much you can enjoy them. Some Canadian bank notes are only in French, like Banque Du Canada currency from 1935. However, most notes that have French text also have English text.
If you are looking to spend serious money on any type of collection then you will want to have relevant reference books on the subject. Thousands of different bank notes were issued in Canada. There are two reference books that cover the entire subject. One book is about Canadian chartered bank notes. The other book covers Dominion of Canada currency, Bank of Canada Currency, as well as a few other more esoteric areas. The first book mostly has black and white images; the second book is in full color. You would be surprised at how difficult it is to find good reference books on most foreign currency. There are standard guides that have one inch by one inch black and white images for some bank notes. However, the history behind each issue is almost always lacking. The same is note true for Canada. It is relatively easy to understand why something is rare and valuable or why something is common and cheap.
It is also fairly easy to find buyers for Canadian currency. Of course there are dealers out there who will buy anything if you are willing to sell it cheap enough. But the market for Canadian currency is sophisticated and efficient enough that most dealers and collectors can reasonable research and value their bank note. So someone could build a collection of Canadian bank notes and reasonable expect to sell it without taking a huge loss. That can’t be said for all areas of paper money. Many times there is just one market maker for certain countries and he basically sets the buy and sell prices wherever he wants to.
But let’s not forget the most important thing about Canadian bank notes…they are beautiful! The colors and are often bright and bold; as is the overall printing quality. There are many different ways to collect. If you like chartered bank notes then you can collect by location. If you like portraits, then you can try to put together a royals set. Many people focus on interesting serial numbers. The offering is diverse enough that there really is no right or wrong way to collect.