Bank of Canada 1937 $5 BCS Very fine 30 BC-23b Gordon Towers

Bank of Canada 1937 $5 BCS Very fine 30 BC-23b Gordon Towers

Brief History

As the 1935 issue printed separately in English and French languages for each denominations proved costly, Bank of Canada introduced its first bilingual issue in 1937. The denominations and text are in English on the left side and French on the right side of the notes. They remain as the same size (6" X 2 7/8 ") as the former 1935 issue. Although the issue was to have the portrait of King Edward VIII, his abdication in December 1936 prompted the replacement of his portrait with that of King George VI, using the same vignette as the $50 note of 1935 in the 1937 issue. This front end design was used for all denominations of the 1937 issue. Furthermore, a new prefix system, fractional, with the numerator (upper letter) denoting the series letter, and the denominator (lower letter) which is used for only one specific denomination, was also introduced in this issue. The back end design for the 1937 issue remained similar to that of 1935 although in some cases, they were used on different denominations. Paper provisions were made by Howard Smith Paper Co. of Montreal. In 1937, the paper was composed of 75% highest grade linen and 25% cotton but due to high resistance to wear, the notes were withdrawn from circulation due to soiling. In 1941 to conserve supplies for the war, the linen content was reduced to 50% as was the chlorine (bleach) use and the amount of titanium dioxide (brightener) resulting in reduced brightness of the paper. The composition was further reduced to 25% linen and 75% cotton to conserve linen use for war uniforms. 

Details

Presented here is a beautiful Very fine 30 Original $5 1937 Bank of Canada note having a portrait of H.M. George VI (black with blue tint) on the front and a seated male with symbols of electricity (blue) on the back, signed by D. Gordon (left) and G.F. Towers (right).

Institute: Bank of Canada

Denomination: $5

2 Letter Prefix and Serial: E/C625777

Cat No.: BC-23b

Year: 1937

Size: 6 X  7/8 inches

Front: King George VI

Back: Seated male with symbols of electricity 

Printing method: Intaglio steel engraving process

Paper: 75% highest grade linen and 25% cotton (based on 1937 standards)

Contractor: British American Bank Note Company (BABN)

Grader: BCS

Grade: Very Fine 30 Original

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