“Queen Mary” $500 1911 is One of Only Three Known to Exist
Heritage Auction Galleries will offer one of the rarest Canadian notes ever printed, the “Queen Mary” $500 1911, in their upcoming Long Beach Currency Signature Auction, to be held September 17-19, 2008.
“This is an amazing note, one of the classic rarities in Canadian currency,” said Michael Moczalla, Consignment Director for Dallas-based Heritage Auction Galleries. “Until the discovery of this particular piece, there were only two examples known to exist in private hands. In fact, this type and denomination is so rare that it is even lacking in the official Bank of Canada collection!”
“The specimen we’re offering in our Long Beach auction has been graded PMG Very Fine 20 with mention of minor restorations, which, although present, are exceedingly difficult to detect,” Moczalla said. “Its existence represents a true miracle of survival, attesting to the fact that these high denomination pieces were actually used in commerce. If this were a United States issue, recognized as only the third example known for the design type, it would easily be a million dollar note.”
“Canadian notes have been growing steadily in popularity and, given the performance of the Flynn Collection – which was part of our record-setting Central States auction held earlier this year – the market for true Canadian rarities is beginning to generate prices which are now standard south of the border. The current Charlton catalog places a value on this note in this grade of $250,000 Canadian. Our best guess here is that this ‘Queen Mary’ note will bring a solid six figure price, but if two or more determined bidders decide they have to own it, our estimate will likely be conservative in the extreme.”
To view all the lots in the upcoming auction, please visit www.HA.com/Currency.

This first of a kind, Serial Number One note is a true miracle of survival, and has obviously spent countless hours, days and years traveling throughout our systems of commerce. Referencing the 2005 Memphis catalog by Smythe, this note has now had four owners in the past one hundred years, two of whom have owned it for approximately seventy of those years.
Dallas, TX:
Discovered earlier this year, it is the only serial number 1 Black Charter Note from any bank to survive, and is one of only three Original Series Black Charter Notes known to exist (Fr. 399).















