Set of Two Upper Canada Fractional Currency Notes 1839 Quarter-Dollar and Half-Dollar, Issued by W. & J. Bell, Gem Uncirculated Condition
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Product Overview
This item includes two scarce Upper Canada paper currency notes issued by W. & J. Bell in 1839. Both notes are in near-perfect original gem uncirculated condition. High-grade paper currency notes from this era are rarely available at any price, and this item presents a rare opportunity for collectors to acquire two highly collectible pieces of early Canadian monetary history.
Although the official currency of Upper Canada in the 1830s was the British pound, very few coins of Great Britain actually found their way into circulation. The primary coins in circulation were Spanish pillar dollars (8 reales), and coins of the United States, particularly quarter-dollars and half-dollars. Coinage from many other European countries also passed, with complicated exchange tables being used by merchants. Some government and chartered bank notes also circulated, being backed by redemption in silver coins.
While this system was less than ideal, it served adequately until 1837. Following the 1837 rebellion in Lower Canada, a smaller rebellion in Upper Canada was led by William Lyon Mackenzie and his followers. Although the rebellion was largely suppressed, the government responded with many changes, including an order-in-council suspending redemption of bank notes for silver coins. The result of this was that coins almost instantly disappeared from circulation in Upper Canada. With a great scarcity of money for customers to use for payments, this proved to be a major challenge for the growing businesses of Upper Canada.
Perth, Upper Canada was originally the centre of the "settlement forming on the Rideau River" and was a significant economic centre. One of the most substantial and respected businesses in the area was W. & J. Bell, a company involved in buying and selling lumber and numerous other goods. When coins disappeared from circulation in the late 1830s, William and John Bell decided to take action to improve the situation.
In late 1837, W. & J. Bell ordered close to $10,000 in their own "bank notes" or scrips to serve as money in Upper Canada. These notes showed multiple denominations reflecting the coins that had been in circulation. The 15-pence note is additionally denominated as a quarter-dollar, and shows an image of a Spanish 2-reales coin. The 30-pence note is also denominated as a half-dollar, and shows an image of a United States 50-cent coin.
As a result of W. & J. Bell's standing and reputation in the community, these notes were widely accepted as currency through the region and through much of Upper Canada. Because the notes were printed on very thin, fragile paper, only a small number of the issued notes have survived.
Includes:
• Set of Two Upper Canada Fractional Currency Notes 1839 Quarter-Dollar and Half-Dollar, Issued by W. & J. Bell, Gem Uncirculated Condition
Although the official currency of Upper Canada in the 1830s was the British pound, very few coins of Great Britain actually found their way into circulation. The primary coins in circulation were Spanish pillar dollars (8 reales), and coins of the United States, particularly quarter-dollars and half-dollars. Coinage from many other European countries also passed, with complicated exchange tables being used by merchants. Some government and chartered bank notes also circulated, being backed by redemption in silver coins.
While this system was less than ideal, it served adequately until 1837. Following the 1837 rebellion in Lower Canada, a smaller rebellion in Upper Canada was led by William Lyon Mackenzie and his followers. Although the rebellion was largely suppressed, the government responded with many changes, including an order-in-council suspending redemption of bank notes for silver coins. The result of this was that coins almost instantly disappeared from circulation in Upper Canada. With a great scarcity of money for customers to use for payments, this proved to be a major challenge for the growing businesses of Upper Canada.
Perth, Upper Canada was originally the centre of the "settlement forming on the Rideau River" and was a significant economic centre. One of the most substantial and respected businesses in the area was W. & J. Bell, a company involved in buying and selling lumber and numerous other goods. When coins disappeared from circulation in the late 1830s, William and John Bell decided to take action to improve the situation.
In late 1837, W. & J. Bell ordered close to $10,000 in their own "bank notes" or scrips to serve as money in Upper Canada. These notes showed multiple denominations reflecting the coins that had been in circulation. The 15-pence note is additionally denominated as a quarter-dollar, and shows an image of a Spanish 2-reales coin. The 30-pence note is also denominated as a half-dollar, and shows an image of a United States 50-cent coin.
As a result of W. & J. Bell's standing and reputation in the community, these notes were widely accepted as currency through the region and through much of Upper Canada. Because the notes were printed on very thin, fragile paper, only a small number of the issued notes have survived.
Includes:
• Set of Two Upper Canada Fractional Currency Notes 1839 Quarter-Dollar and Half-Dollar, Issued by W. & J. Bell, Gem Uncirculated Condition
