Prized Million-Numbered Replacement Note

Lot number 1370 in the Geoffrey Bell Auctions Ltd. Toronto Coin Expo 2017 Fall Sale checks a large number of boxes on what makes a prized banknote, adding to the excitement of what already promises to be another historic offering.  The auction takes place September 28th and 29th live at the Toronto Reference Library and is already generating action online.  This 1954 modified dollar is set to take a prized spot in someone’s banknote collection.

1954 modified replacement note

Graded by PMG as Choice Unc 63 with the EPQ designation, this replacement note features the scarce V/V prefix, with an estimated 400 thought to have been printed, plus it sports the highly desirable million-numbered serial of 3000000.

The 1954 notes are one of the most studied and heralded Bank of Canada banknote series.  The lore behind the Devil’s Face and Modified designations understandably catch the attention of collectors and the general public alike and this note presents more mystery – why was the lower V denomination, which was assigned for use on the $10 note, used, albeit sparingly, for these one dollar replacement notes?

Radars, rotators, repeaters, and solid numbers, are all examples of very collectable fancy serial numbers, and it seems the two most often found in prestigious collections are low numbers and million-numbered examples.  High grade, scarce issue, desirable serial number, replacement note status – this note has everything to make it a centrepiece in any portfolio.

The Toronto Coin Expo 2017 Fall Sale is very near.  Print catalogues have been mailed and everything is available online for perusal.  If you aren’t already, be sure to follow us on Twitter and like us on Facebook to stay current on all numismatic news.


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