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75th Anniversary of the First Bank Notes Issued by the Bank of Canada
The identity of a nation, its traditions, the very essence of its social, political and economic evolution are reflected in its paper money.
Canada is no different.
During the 19th century, paper money was available from a wide variety of sources: pre-Confederation (provincial) governments, chartered banks, and private banks. Over a period of 175 years, more than 100 note-issuing banks operated in Canada. Various denominations were issued, including $3, $5, $6, $7, and $8 notes.
Through an act of Parliament, the Bank of Canada began operating 75 years ago in 1935 and was given responsibility to regulate the country's money supply and to "promote the economic and financial welfare of Canada". Accordingly, it was given the exclusive right to issue Canada's bank notes. On March 11, 1935, the Bank of Canada issued its first series of bank notes. Notes issued by chartered banks were gradually removed from circulation.
The inaugural series of 1935 included denominations of $1, $2, $5, $10, $20, $50, $100, $500, and $1000. (A $25 note was issued later in 1935 to commemorate the silver jubilee of King George V).
The front of the notes featured a portrait of a member of the royal family or of a former Canadian Prime Minister while allegorical figures representing Canada's growing agricultural, industrial, and commercial prosperity appeared on the back. Each denomination was available in English or French, a practice that ended with the introduction of bilingual notes in 1937.
This 50 Dollar coin is certified to be 99.99% pure silver with a weight of 5 ounces and a diameter of 65.25 millimeters. Mintage 2000