5 Dollars - Bank of Montreal

5 Dollars - Bank of Montreal -  obverse5 Dollars - Bank of Montreal -  reverse

© Andre Cote

Features

Issuer Canada
King George V (1910-1936)
Year 1914
Value 5 Dollars (5 CAD)
Currency Canadian dollar (1858-date)
Composition Paper
Size 175.5 × 85 mm
Shape Rectangular
Demonetized Yes
Number N# 234045
Numista type number (https://numista.com)
References Ch# 505-54-04
Mark Drake (editor); 2020. A Charlton Standard Catalogue / Volume 1. Canadian Coins : Numismatic issues (73rd edition). Charlton Press, Kitchener, Ontario, Canada.
And 1 more volumes.

Obverse

Lettering: Signature: Williams-Taylor - Meredith

Reverse

Lettering: American Banknote Company Ottawa

Comments

Until the creation of the Bank of Canada in 1934, and its first issues in 1935, most high denomination notes (mostly $5-$20) were provided by the Charter Banks such as the Bank of Montreal, the Dominion Bank, the Bank of Toronto, etc. It is important to note that this system was supported by the government itself, which explains why it issued very few $5 notes before 1935 and no $10-$20 notes. $50 notes and up were issued by the Dominion, but they were obviously not meant for daily transactions.

According to the Bank of Canada Inflation Calculator (https://www.bankofcanada.ca/rates/related/inflation-calculator/) the purchasing power of a 1914 $5 note would be $119 in 2021 Canadian dollars.

See also

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Date VG F VF XF AU UNC
1914-Nov-3 

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