Before I donate this one to LordM's holey coin collection, can someone tell me about Canada Bank Tok

Steve27

What was the story behind these?

canadiancoinguy

I'll let someone else fill in the story since I really should be heading off to bed at this time, but of note, they are generally overgraded by 1-2 grades (the one pictured looks VGish, but would not be unusual if labelled VF), and have enjoyed legal tender status since 1870. (1d=2c)

1960NYGiants

The short story is something like this....

At the time these tokens were issued, Canada was still a colony of England. England did not allow it's colonies to mint its own coins (one reason for the US Revolutionary War). And England based traders/merchants demanded payment in English coin. As such circulating British legal tender was very scarce. So merchants, bankers, and other entrepreneurs created tokens for use as specie in the colonies.

The Bank of Upper Canada tokens with St George slaying the Dragon, dated from 1850 to 1857, along with the Bank of Montreal front view tokens of 1842 to 1845 are the only tokens created for use in Canada with the official blessing of the Crown. These are collectively known as the semi-regal issues for the Province of Canada and I believe actually struck by the Royal Mint and/or licensed to be struck at the Heaton Mint.

The Province of Canada tokens were legal tender in Canada until the 1890's.

Gene

lordmarcovan

Canadian tokens of the period are probably the most common Darkside holey there is. It's a neat piece, but I've got lots of that type. Save it for another holey collector- there are many cropping up, and I am gonna start the HCCC (Holed Coin Collector's Club.) Seriously!

Carlwohlforth comes to mind, as does Ashmore.

I heard that the reason so many of those were holed is because of the fur trade. The Indians would string 'em like wampum. So I heard, anyway.

Thanks for thinkin' of me.

Those are neat pieces because of their history and the fact they are so cheap (even unholed). I have some of the nice big penny tokens as high grade holeys- some would grade EF to AU, aside from the fact they're holed.

cosmicdebris

Non Holed version

Steve27

Thanks for the info! Nice token Bill!

NJMark1

That is obviously a more common round hole variety. the square hole variety is much more desireable as the hole has greater character from being made with a old cut nail rather then a drill or modern round nail.

Mark