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5 Dollars (1 Pound 10 Pence)
| Issuer | Royal Bank of Canada |
|---|---|
| Year | 1938 |
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| Reference(s) | P#S118 |
| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | THE ROYAL BANK OF CANADA WILL PAY TO A BEARER ON DEMAND AT ST. GEORGE'S GRENADA ST. GEORGE'S GRENADA JANUARY 3RD 1938 FIVE GRENADA DOLLARS THE EQUIVALENT OF £1-0-10 IN GRENADA CURRENCY REDEEMABLE ONLY GRENADA 5 DOLLARS THE EQUIVALENT OF £1-0-10 |
| Reverse description | Log in to see details |
| Reverse lettering | FIVE GRENADA DOLLARS THE EQUIVALENT OF £1-0-10 FIVE GRENADA DOLLARS THE EQUIVALENT OF £1-0-10 THE ROYAL BANK OF CANADA DIEU ET MON DROIT CANADIAN BANK NOTE COMPANY, LIMITED |
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| Comments |
The Royal Bank of Canada's 1938 series was among the last chartered bank notes to circulate legally in Canada before the Bank of Canada Act amendments effectively ended commercial bank note issuance. After 1944, chartered banks were prohibited from issuing notes in denominations under $5, and the gradual phase-out of all chartered bank currency followed — making this late-series note a product of an institution already aware its note-issuing days were numbered.
The dual denomination reflects sterling-decimal convertibility requirements still in force for certain Caribbean and international branch transactions. Not a clerical quirk — a genuine operational necessity at the time.