Following our blog posts on some great, early banknotes from the Exchange Bank of Toronto and the Bank of Prince Edward Island for the upcoming Paris Winter Sale, we couldn’t resist writing about another innovative institution – The Agricultural Bank. The Geoffrey Bell Auctions Ltd. Paris Winter Sale takes place February 3rd, 2018 in Paris, Ontario the evening before the Paris Coin Show.
The Agricultural Bank was formed in 1834 in Toronto to act as the private bank for the joint-stock firm of Truscott, Green & Company. The bank existed a mere three years, failing spectacularly in 1837, but it was a magnificent short time involving heated battles with the Bank of Upper Canada, the only real competition at the time, a duel with a tory leader, plus an arrest and a subsequent flee to Buffalo.
The Agricultural Bank was the first in Canada to pay interest on deposits and it also offered personal savings accounts upon which cheques could be written.
We are pleased to be offering five very nice notes from this short-lived, but historic bank. There are two issues from 1834: a 20-10-06 $2 (10 shillings) graded by PMG as Choice Fine 15; and a 20-10-18a $5 (25 shillings) note graded by CCCS as Fine 12.
1835 issues, both with For Geo. Truscott… engraved at bottom, include 20-12-02-02 $1 (5 shillings) graded by PMG as Choice Fine 15 and a 20-12-02-06 $2 (10 shillings) also graded by PMG, but VG10.
The fifth note, a 20-12-02-16 $5 (25 shillings) of 1836 is an attractive PMG Very Fine 25.
There’s no question that these early pieces of paper that shaped our country’s economic system and our history as a nation are very worthy of consideration for some lucky collector’s portfolio.