NOT SOLD (BIDDING OVER)
0.00CAD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2023 Apr 15 @ 17:30UTC-4 : AST/EDT
we are accepting Internet Bids, E-mail, Phone or Faxed in Bids. Session 1 goes live April 14th@ 530pm EST (230pm PT) and Session 2 goes live April 15th@ 530pm EST (230pm PT)
Tel: 519-579-9302 (Ext. 205 or 212 after hours)
Fax: 519-579-0532
Email: auctions@colonialacres.com
Live floor bidding will be held at 6750 Mississauga Rd, Mississauga, ON.
Viewing will be available Friday April 14th from 12-4 PM and again Saturday April 15th from 10 AM to 4 PM
Please read the updated terms of sale!
MOLSON'S BANK
A failing economy and armed rebellion led the Lower Canadian government to suspend specie payments in 1837 and ’38. Into the breach stepped businessmen like Montreal brewers Thomas and William Molson with wads of their own private banknotes. A first run of 12,000 Molsons Bank notes, printed in New York, was quickly gobbled up. Private bankers were supposed to buy back their notes once coin was available, but the Molsons kept circulating them.
In 1839 the government forbade all but dedicated chartered banks from issuing their own notes. William and Thomas were denied a banking license owing to their brewing business. And when the Bank of Montreal closed the company’s account, the Molsons were finally forced to buy back their illegitimate notes.
However, the Molsons were nothing if not persistent. William and his eldest brother John resigned from Bank of Montreal directorships to found a new (legal) Molsons Bank in 1853. The Bank of Montreal waged fiscal warfare on the new institution by stockpiling its notes and cashing them in to drain Molsons’ reserves. Molsons converted from private ownership to a public charter in 1855, with all three brothers on the board. The bank survived, then flourished.
By 1921 Molsons had grown to 125 branches, mostly in Quebec and Ontario. But that decade the bank’s fortunes flagged. President Fred Molson negotiated its 1925 acquisition by former nemesis the Bank of Montreal. The bank’s ornate Montreal headquarters still serves as an office building, while the historic 3 King Street South branch close to Colonial in Waterloo continues to operate under the BMO banner. But it’s the bank’s other physical legacy that collectors will find most compelling.
FEATURED IN THIS AUCTION
Colonial Acres presents 22 notes issued by the Molsons Bank between 1837 and 1922. Chief among them are two 1871 notes in unusual $6 and $7 denominations. These were issued so that vendors could make change in Molsons Bank notes rather than with smaller Dominion of Canada issues. As such, Molsons’ notes would keep circulating without being redeemed and denting the bank’s currency holdings.
The 1871 $6 is one of only five known examples, with two held in institutional collections. As a net Fine 15, it bears the highest known grade in private hands. Even tones and a lack of noticeable blemishes make this lightly restored note a beauty to behold, worthy of the highest prominence in one’s own personal museum.
The 1871 $7 note is one of nine known and six outside of institutional collections. Tiny spots, minor missing pieces, and other issues do not detract from the note’s fine details and exceeding collectability. The note is tied for the highest grade on record as a BCS Fine 12.
Also sure to catch the collector’s eye is an exceptional $1 note issued in Toronto in 1855, the year Molsons Bank converted to a public charter. One of just four on record, it bears the highest grade of them all at BCS Fine 18. Pinholes and tears do not distract from the note’s attractive appearance. This utter rarity, one of just two in private hands, is last known to have sold in 1986.
With such an exquisite array of sought-after banknotes available to bid on, we trust that this season’s Premiere auction will be an occasion to remember. The bidder who acquires any one of these spectacular notes will have added to the history of an irreplaceable element of Canada’s numismatic story.
Auction Location:
991 Victoria Street North, Kitchener, Ontario, N2B 3C7, Canada
Previewing Details:
Items may be viewed prior to the auction in Kitchener, Ontario at our store. Viewing is available 10-4pm Monday to Friday.
If you would like to send us mail bids, please call or email us. Thanks and have fun!
No taxes will be charged for items delivered outside of Canada. Taxes will be applied for all Canadian residents for applicable items.
All bidders agree to pay the rates outlined below:
13% HST is applied for all residents from ON, 15% NB, NFLD, NS & PEI. 5% GST is applied for all other Provinces. AB, BC, MB, NWT, Nunavut, QC, SK, YK
Taxes:
| Tax | Rate | Desc. |
| NFLD |
15% |
NewFoundland |
| NB |
15% |
New Brunswick |
| NS |
15% |
Nova Scotia |
| PEI |
15% |
Prince Edward Island |
| ON |
13% |
Ontario |
| AB |
5% |
Alberta |
| BC |
5% |
British Columbia |
| MB |
5% |
Manitoba |
| NWT |
5% |
Northwest Territories |
| NT |
5% |
Nunavut |
| QC |
5% |
Quebec |
| SK |
5% |
Saskatchewan |
| YK |
5% |
Yukon |
Buyer's Premiums:
| From (Incl.) | To (Excl.) | Premium |
| 0.00 |
Infinite |
18% |
Additional Fees:
Shipping Details:
SHIPPING AND DUTIES:
Pick up and Shipping will be calculated and added onto the final invoice. Final invoices will be emailed to purchasers within 12 hours of the auction ending.
You may pick-up lots from the auction event once payment has been received and approved, as well you may make arrangements to pick your auction lots at Colonial Acres in Kitchener up to 7 days after the auction has concluded.
Please call or email ahead to make arrangements to have your auction lots ready or if you have selected Pick-Up when you sign up for the auction. You will be contacted by email within 2-3 business days when your order is ready. Please do not come in until you receive this email.
All shipments will be shipped with tracking and signature where available. Shipments outside of Canada; duties and delivery are the sole responsibility of the purchaser.
We will not combine any Colonial Acres website orders with auction orders for shipping, nor will we hold or combine auction orders. This process slows down our shipping and processing times.
Delivery within Canada typically takes 7 -10-business days from receipt of Payment. USA can take up to 10-15 business days. International shipping generally can take 4-10 weeks (please allow up to 12 weeks to ship to Australia or New Zealand using surface package, or contact the store to arrange for Express post – additional fees will apply).
All International Orders must be shipped with a tracking number and will be a minimum of $50.00 shipping cost, but can exceed this amount depending on the weight of the package. We will contact you with the correct shipping cost.
RETURNS:
Returns will only be accepted by the auctioneer in the case of an error in our listing, and or a misattributed item (NO RETURNS on bulk lots or any lot that contains more than 6 items).
All returns must be received back within 7 days of receiving your winning lots. Returned lots must be in all original packaging and condition as sold in auction, any items that have been opened or altered in any way will be void any return privileges. Auction Premiums are non-refundable on all returns or cancelled items.
Any disputes regarding lots that are not brought to the auctioneer's attention within 28 days will forfeit all rights to return your items under any circumstances.
All floor bids are deemed as final and no returns will be accepted under no circumstances to a floor bidder, or his/hers agents representing your bid.
INCIDENTALS
In the event of an unexpected power failure and or internet service failure that cannot be resolved in a timely manner, or in the event of extreme weather or acts of God outside the control of the auctioneer. We the auctioneer have the sole right to end the Auction event at any time for any reasons deemed reasonable by the auctioneer. The Auctioneer reserves the right to make any amendments to the Terms of sale by either a verbal announcement at the time of the auction event or by a posted message on the auction website. The Auctioneer will exercise to the best of their power to insure all items being sold in the auction are described and photographed to the best of their knowledge. We cannot be held responsible for errors or omissions that may occur in either the Catalogue, internet or verbal statements.
Payment Details:
PAYMENTS:
ALL LOTS MUST BE PAID FOR IN FULL PRIOR TO SHIPPING. All bidders agree to make payments in full in Canadian Funds as per the invoiced amount at the conclusion of the auction. All Purchases made in US Funds will be accepted at the day’s posted exchange rates.
No Items will be released or delivered to any bidder until payment is received in full. The Auctioneer reserves the right to request up to 25% deposits prior to bidding on certain lots deemed necessary by the sole discretion of the Auctioneer. Any deposited collected that cannot be applied to winning bids will be refunded back to the bidder within 48 hours of the conclusion of the auction.
We cannot be held responsible or liable for refunds that are delayed by banking institutions. If you require special payment conditions these must be presented to the Auctioneer and accepted prior to bidding.
Bidders will automatically be banned from participating in any future auctions if payment exceeds 15 days from the conclusion of the auction. Customers with outstanding invoices will be unable to participate in any future auctions until payment has been made.
All bidders and or agents registered on behalf of a bidder authorize the auctioneer to bill the credit card registered with the auction event for the full amount of all purchases made by a registered bidding account. The bidder and or Agents agree that any deposits made will be forfeited and applied to the amount owing.
ACCEPTED PAYMENT METHODS
VISA
MasterCard
Money Order/Bank Draft
Personal Cheque/Check
PayPal
Wire Transfer
Electronic Bill Payment – Scotiabank, CIBC, Royal Bank or BMO Customers
You can save the additional 3% fee for using Credit card or PayPal on your invoice if you would like to pay by one of the following methods: Cash (in store), Debit (in store), Cheque, Money Order, and E-transfer, wire Transfer or Bill Payment.
All personal cheques must clear our bank before we ship your order. Cheque clearing can take up to 10 business days. Please contact us if you would like to pay with Credit Card, or have us send you a PayPal money request, or to have your invoice total adjusted based on your payment methods.
For e-Transfer Payments please send the payment to: auctions@colonialacres.com and use the password colonialtransfer.
For wire transfer into our CIBC bank account use account # 5830117, Transit # 06052
Cheques/Money Orders can be sent to:
Colonial Acres Coins
991 Victoria Street North
Kitchener, Ontario, Canada
N2B 3C7
For customer who would like to use the bill payment option please contacts us for your account number. Once you have attained your account number follow these simple steps: log into your account, go to the bill payment option, the click on Add Payee, search “Colonial Acres”, type in your account number and add us to your payee list. Once added simply follow the instructions on your screen to process your payment.
Accepted Payment Methods:
- VISA
- Master Card
- Money Order/Bank Draft
- Check/Cheque
- PayPal
- See Payment Details
- Wire Transfer
- E-Transfer
This is a Public, Mail, Email, Phone/Fax and Internet Auction Sale. All bids are per lot. All mail bids must be received no later than 4:00 PM April 14th & 15th.
AUCTION LOCATION AND VIEWING OF LOTS:
Both sessions will be held Online through Icollector.com. Viewing for the auction is available at our store location: 991 Victoria St. North, Kitchener, Ontario from March 24th to April 13th 2023. Monday to Friday 9:30am to 4:30 pm and Saturdays 10am to 2pm. We must receive your phone/fax bids no later than 4:00pm EST on April 14th & 15th 2023.
By bidding in this auction, ALL BIDDERS agree, accept and comply with all terms and conditions outlined in this auction. Auctioneer assumes all bidders have fully read and understand the auctions Terms and conditions outlined below.
HOW TO BID:
Bidders may register in any of the following ways: Visit our store and fill out a bidder’s card. By Internet registration, mail, phone, fax, or Email. All Bidders are held responsible for their own bids; any errors in calculations and/or lot numbers will still be considered a final bid. Please double check your calculations and lot numbers before signing and submitting bid sheets to us. In the case of a discrepancy between bids after the hammer has fallen, all decisions made by the auctioneer are final and not negotiable. In some case that are deemed necessary, a lot may be re-opened and if you were the previous high bidder you may need to bid again to win the lot.
BUYER’S PREMIUM AND TAXES
All bidders agree to pay the following Buyer’s Premiums otherwise known as the "Hammer Fee" that is applied to all winning bids. Buyer’s premium is applied to all payment types described in the payment section of the terms of sale.
Type of Bid:
Regular Buyer’s Premium
Internet/Email/Fax/Phone 18%
Buyer’s Premium with PayPal or Credit Card
Internet/Email/Fax/Phone 21%
All prices are in Canadian Funds. Bidding in this auction will be in Canadian Funds. Mail bids received from USA customers will be converted to CDN funds using the rate on the auction’s date.
OPENING BIDS & ESTIMATES:
The opening bid for all lots will commence at 10% above the second highest bid received or the consignor’s reserve (whichever is higher). All mail bids received prior to the live auction will be lowered whenever possible (so don’t be afraid to put down your maximum bid!!) All lots will be started at either the consignor’s reserve or 50% of the estimate.
Most lots will sell at 40% to 150% of the estimate. If you place a bid of about 60% of the estimate you should have a good chance of winning the lot, while a bid of 110% of the estimate you will likely win the lot. The estimates given are taken from Charlton catalogues, Canadian Coin News, eBay sales, Canadian Coin News trends, Canadian Dealer Newsletter retail prices, Krause publications, ICCS Cornwell, NGC Census, and PCGS Census.
BIDDING ADVANCES:
If no bids are received for a lot at the opening rate the auctioneer reserves the right to accept or decline called out floor bids or closes that lot and move on to the next. Any bids placed by a consignor and or an agent representing you on your own consignments are still subject to the full buyers premiums and commission rates agreed by you and the auctioneer.
All Bidders are held responsible for their own bids, any errors in calculations and or lots numbers is considered a final bid. Please double check your calculations and lot numbers before signing and submitting bid sheets to us.
In the case of a discrepancy between bids after the hammer has fallen, all decisions made by the auctioneer are final and not negotiable, in some cases that deemed necessary a lot may be re-opened and if you were the previous high bidder you may need to bid again to win the lot.
All decisions by the Auctioneer are final and are made at the sole discretion of the Auctioneer. Colonial Acres Auctions is acting as an agent between the Consigner’s and the winning buyer. We the Auctioneer disclaims all responsibility and liabilities that may be connected to the sale of any items within our Auction. By agreeing to these terms you the bidder agrees to accept any damages, and or losses that may come from the purchase of an item in this sale.
GRADING AND ESTIMATES:
Colonial Acres Auctions will attempt to represent all items to the best of their knowledge. We cannot be held responsible for our opinion provided to you in this auction or the opinion of any third party grading services represented in this Auction. Grading is subjective to personal opinions; in many cases where Third party grading services are represented in our auction, these grades may differ from professional opinions, and thus we assume that all bidders have fully viewed the items in the auction and accept the condition represented prior to bidding. We cannot accept responsibility and waive all liability resulting in financial losses, and or incidentals accruing from the sale of any items, nor can we guarantee that items graded by third party services will grade the same if submitted to a different grading service or re-submitted to the same company. Returns of items will not be accepted.
IDENTICAL BIDS:
In the event of an Identical Bid, the Auctioneer will give the winning bid to the first received bid.
Taxes:
No taxes will be charged for items delivered outside of Canada. Taxes will be applied for all Canadian residents for applicable items. All bidders agree to pay the rates outlined below:
13% HST is applied for all residents from ON, 15% NB, NFLD, NS & PEI. 5% GST is applied for all other Provinces. AB, BC, MB, NWT, NU, QC, SK, YK
PAYMENTS:
ALL LOTS MUST BE PAID FOR IN FULL PRIOR TO SHIPPING. All bidders agree to make payments in full in Canadian Funds as per the invoiced amount at the conclusion of the auction. All Purchases made in US Funds will be accepted at the day’s posted exchange rates.
No Items will be released or delivered to any bidder until payment is received in full. The Auctioneer reserves the right to request up to 25% deposits prior to bidding on certain lots deemed necessary by the sole discretion of the Auctioneer. Any deposited collected that cannot be applied to winning bids will be refunded back to the bidder within 48 hours of the conclusion of the auction.
We cannot be held responsible or liable for refunds that are delayed by banking institutions. If you require special payment conditions these must be presented to the Auctioneer and accepted prior to bidding.
Bidders will automatically be banned from participating in any future auctions if payment exceeds 15 days from the conclusion of the auction. Customers with outstanding invoices will be unable to participate in any future auctions until payment has been made.
All bidders and or agents registered on behalf of a bidder authorize the auctioneer to bill the credit card registered with the auction event for the full amount of all purchases made by a registered bidding account. The bidder and or Agents agree that any deposits made will be forfeited and applied to the amount owing.
ACCEPTED PAYMENT METHODS
VISA
MasterCard
Money Order/Bank Draft
Personal Cheque/Check
PayPal
Wire Transfer
Electronic Bill Payment – Scotiabank, CIBC, Royal Bank or BMO Customers
You can save the additional 3% fee for using Credit card or PayPal on your invoice if you would like to pay by one of the following methods: Cash (in store), Debit (in store), Cheque, Money Order, and E-transfer, wire Transfer or Bill Payment.
All personal cheques must clear our bank before we ship your order. Cheque clearing can take up to 10 business days. Please contact us if you would like to pay with Credit Card, or have us send you a PayPal money request, or to have your invoice total adjusted based on your payment methods.
For e-Transfer Payments please send the payment to: auctions@colonialacres.com and use the password colonialtransfer.
For wire transfer into our CIBC bank account use account # 5830117, Transit # 06052
Cheques/Money Orders can be sent to:
Colonial Acres Coins
991 Victoria Street North
Kitchener, Ontario, Canada
N2B 3C7
For customer who would like to use the bill payment option please contacts us for your account number. Once you have attained your account number follow these simple steps: log into your account, go to the bill payment option, the click on Add Payee, search “Colonial Acres”, type in your account number and add us to your payee list. Once added simply follow the instructions on your screen to process your
payment.
SHIPPING AND DUTIES:
Pick up and Shipping will be calculated and added onto the final invoice. Final invoices will be emailed to purchasers within 12 hours of the auction ending.
You may pick-up lots from the auction event once payment has been received and approved, as well you may make arrangements to pick your auction lots at Colonial Acres in Kitchener up to 7 days after the auction has concluded.
Please call or email ahead to make arrangements to have your auction lots ready or if you have selected Pick-Up when you sign up for the auction. You will be contacted by email within 2-3 business days when your order is ready. Please do not come in until you receive this email.
All shipments will be shipped with tracking and signature where available. Shipments outside of Canada; duties and delivery are the sole responsibility of the purchaser.
We will not combine any Colonial Acres website orders with auction orders for shipping, nor will we hold or combine auction orders. This process slows down our shipping and processing times.
Delivery within Canada typically takes 7 -10-business days from receipt of Payment. USA can take up to 10-15 business days. International shipping generally can take 4-10 weeks (please allow up to 12 weeks to ship to Australia or New Zealand using surface package, or contact the store to arrange for Express post – additional fees will apply).
All International Orders must be shipped with a tracking number and will be a minimum of $50.00 shipping cost, but can exceed this amount depending on the weight of the package. We will contact you with the correct shipping cost.
RETURNS:
Returns will only be accepted by the auctioneer in the case of an error in our listing, and or a misattributed item (NO RETURNS on bulk lots or any lot that contains more than 6 items).
All returns must be received back within 7 days of receiving your winning lots. Returned lots must be in all original packaging and condition as sold in auction, any items that have been opened or altered in any way will be void any return privileges. Auction Premiums are non-refundable on all returns or cancelled items.
Any disputes regarding lots that are not brought to the auctioneer's attention within 28 days will forfeit all rights to return your items under any circumstances.
All floor bids are deemed as final and no returns will be accepted under no circumstances to a floor bidder, or his/hers agents representing your bid.
INCIDENTALS
In the event of an unexpected power failure and or internet service failure that cannot be resolved in a timely manner, or in the event of extreme weather or acts of God outside the control of the auctioneer. We the auctioneer have the sole right to end the Auction event at any time for any reasons deemed reasonable by the auctioneer.
The Auctioneer reserves the right to make any amendments to the Terms of sale by either a verbal announcement at the time of the auction event or by a posted message on the auction website. The Auctioneer will exercise to the best of their power to insure all items being sold in the auction are described and photographed to the best of their knowledge.
We cannot be held responsible for errors or omissions that may occur in either the Catalogue, internet or verbal statements.