50 Dollars

The Banque Canadienne Nationale was itself only a year old in 1925, formed from the 1924 merger of the Banque Nationale and the Banque d'Hochelaga. Issuing chartered bank notes was standard commercial banking practice in Canada at the time — the federal government didn't monopolize currency until the Bank of Canada Act of 1934 — but a $50 denomination was a high-value instrument even by chartered bank standards, intended for institutional and commercial transactions rather than everyday exchange.

The Canadian Bank Note Company in Ottawa produced the series. Surviving examples at this denomination are genuinely rare; high-value chartered notes saw heavy use in trade settlements and were typically redeemed and destroyed well before collector interest developed.