Canada 5 Dollars Silver Coin 2013 Canadian Bank of Commerce Bank Note
Historical Canadian Bank Notes Series
Obverse: Susanna Blunt’s design of Her Majesty Queen Elizabeth II.
Reverse: Vignette from the Canadian Bank of Commerce, 1888 $20 bank note.
Diameter: 36.07 mm.
Weight: 23.17 g.
Bullion Weight: 0.75 Troy Ounces.
Material: Silver.
Fineness: 0.9999.
Finish: Proof.
Quantity Produced: 8500.
Face value: 5 Canadian Dollars.
Manufacturer: Royal Canadian Mint.
This exciting coin is the first in the Royal Canadian Mint’s new Historic Canadian Banknotes series, which evokes the styles and craftsmanship of the late 19th century from original currency engravings.
Drawn from the Canadian Bank of Commerce’s 1888 $20 banknote, this coin features a cherubic figure reclining in a nautical scene that is awash in allegorical meaning. The cherub himself could be interpreted as the ancient Greek god Hermes, patron of travelers, who was often depicted holding a caduceus, a sceptre entwined with serpents. The caduceus was a symbol of commerce and was strongly significant to businesses of the era such as Canada’s early chartered banks. The cherub is reclining on a large fish, a clear symbol of the sea’s importance as both a source of sustenance and commercial prosperity.
In the background several ships navigate the choppy waters of the sea, guided by a single lighthouse on a distant headland. Furthest away the sails of a tall ship can be seen just above the horizon, while in the foreground a small steam-powered boat rolls in the waves. These two vessels and their position in the image illustrate the transitional period of the late 1800’s as technological advances made their way into the lives of Canadians. Between the two ships, a tall sailing ship plows through the storm, powered by its own steam engines, dark plumes emerging from its two central smoke stacks. In this way the large central ship navigates through both the ocean in a literal sense and the through the changes in industry symbolically.
Struck in .9999 pure silver and weighing ¾ of a troy ounce, this coin would make an excellent gift for a wide variety of collectors, including those interested in nautical or banking history, banknote design, or Canadiana in general. Each coin comes encapsulated with a maroon clamshell case, certificate of authenticity and a custom designed beauty box. Limited to 8,500 pieces worldwide.
Paper currency as we know it today is a relatively recent phenomenon. The story of its evolution in North America over the last three centuries includes fascinating tales about the development of a highly specialized art form, the ingenuity of human technology, and the ever-changing worlds of banking and economics.
The Emergence of Paper Money in North America
The earliest North American paper money was issued in New France in 1685 when, urgently needing to pay colonial soldiers, the Intendant issued promissory notes on paper playing cards. Five years later, the British colony in Massachusetts circulated North America’s first formal paper bills of credit, which made their way as far north as Nova Scotia, where they were used as paper currency.
While the marketplace readily accepted this type of paper currency when it was first issued, the redemption value of the notes was inconsistent, eroding public trust in this form of money. As currency laws and practices changed, however, the popularity of paper money grew among governments, chartered banks, merchants, and the public.
Employing Art to Outsmart Counterfeiters
By the nineteenth century, greater demand for paper money deepened the need to perfect its design in ways that not only reinforced its monetary value but also stopped counterfeiters from undermining its security. Thus by the mid 1800s note engraving and design had become a major business.
Examining a bank note from nearly any nation will reveal several design elements that emerged in the nineteenth century, including the use of line engraving and the presence of portraiture, allegorical imagery, complex calligraphic lettering, and complicated geometric patterns. American Jacob Perkins is credited with popularizing this composite approach in 1799 with his patented stereotype steel plates that combined engraved portraits, vignettes (pictorial and allegorical images), words, and geometric lines on a banknote to create a composition whose complexity made it essentially impossible for counterfeiters to reproduce it.
The 1888 Canadian Bank of Commerce Notes
Founded by Toronto businessman William McMaster in 1867, the Canadian Bank of Commerce had grown to more than 40 branches in its first 20 years of operation. (It eventually merged with the Imperial Bank of Canada in 1961, forming today’s Canadian Imperial Bank of Commerce.) The Commerce issued a series of notes when it first opened in 1867. Three years later, the Canadian Bank Act (1870) changed the rules about which denominations were permitted to circulate and the Commerce adjusted its issue accordingly in the years that followed.
In 1887, the Commerce issued an innovative 10-dollar note that featured a green tint on its face. Until that time, the face of the bank’s notes had featured black ink overprinted with green. For the first time, the Commerce was adding an overall green tint to the face of its bill in order to foil counterfeiting efforts, which had redoubled with the emergence of photographic technology. Unfortunately, the green ink blurred so badly that the Commerce had to withdraw the notes.
Turning immediately to the American Bank Note Company (ABNCo) in New York City, the Bank commissioned a new issue using ABNCo’s colourful tints that did not have the same problems as the green ink of the previous issue. On January 2, 1888, the Canadian Bank of Commerce released the new issue of colourful 5-, 10-, 20- and 100-dollar notes. The security of the notes was successful enough that the series design did not change until 1917, when new designs were released in commemoration of the 50th anniversary of the Commerce.
Canadian Bank Notes Series
Canada 500 Dollars Gold Coin 2010 75th Anniversary of the First Bank Notes issued by the Bank of Canada
Canada 10 Dollars Silver Coin 2010 75th Anniversary of the First Bank Notes issued by the Bank of Canada
Canada 20 Dollars Silver Coin 2010 75th Anniversary of the First Bank Notes issued by the Bank of Canada
Canada 50 Dollars Silver Coin 2010 75th Anniversary of the First Bank Notes issued by the Bank of Canada
Canada 5 Dollars Silver Coin 2013 Canadian Bank of Commerce Bank Note
Canada 5 Dollars Silver Coin 2014 Saint George Slaying Dragon, Canadian Bank Note Series
Canada 5 Dollars Silver Coin 2014 Lion on the Mountain, Canadian Bank Note Series
Canada 5 Dollars Silver Coin 2015 Canadian Bank Notes Series