5 Dollars

The Imperial Bank of Canada was one of the smaller chartered banks still issuing its own currency in the early 1920s, operating under the terms of the Bank Act before Dominion of Canada notes and eventually the Bank of Canada consolidated the currency supply. By 1923, the chartered bank note system was already aging — the Bank of Canada Act of 1934 would eventually retire all private bank issues, meaning notes like this one had a limited operational window regardless of their print run.

The Canadian Bank Note Company in Ottawa handled a substantial share of chartered bank production during this period, and their work on Imperial Bank issues is generally consistent — but watch for the 1923 series specifically, as some examples show ink adhesion irregularities in the serial numbering, a known characteristic rather than a defect.