★ Rare Cardinal Overprint ★

CANADA. Bank of Toronto. 5 Dollars, 1890. CH #715-22-02a. PMG Choice Fine 15.
Toronto, Dominion of Canada. "Cardinal" overprint found twice in blue. This series was found with locations of issuance on the face, and what makes this note special compared the other three reported on PMG's population report is where this note was issued. The Village of Cardinal was founded in the 1700s by Captain Hugh Munro, who is believed to have received the land out of payment for war debts personally incurred during the American Revolutionary War, fighting for the Loyalists. The land was highly valued at the time, as it was adjacent to a river (for trade and transportation) and was also next to Ontario Highway 2, which was constructed in 1790. In 1851, the population was reported to be 120 people. Fast forward to 1895, and the population was reported to be just 1,000 people. The small population of Cardinal correlates with the small amount of notes known with the "Cardinal" overprint. The face of the note is found in a yellow tint. with the Royal Crest seen at center, with a woman at left and seated commerce figure next to "5" at right. The reverse displays a medallion style engraved portrait of Queen Victoria and Prince Albert, with counters and left and right. A rare opportunity.
Estimate: $3500.00- $4500.00