100 Dollars

The Banque Canadienne Nationale was formed in 1924 through the merger of the Banque Nationale and the Banque d'Hochelaga, and this 1929 issue falls right at the peak of that institution's confidence — printed just before the Depression effectively ended private bank note circulation in Canada. The chartered bank note system was already being wound down federally; the Bank of Canada Act of 1934 would eventually strip chartered banks of their right to issue currency entirely, with the final private notes pulled from circulation by 1950.

High-denomination chartered bank notes from this period survived in tiny numbers. The $100 face value meant most were held briefly, paid through, and returned to the bank rather than circulating widely in trade.