10 dollars 1938

Common. The Bank of Montreal's 1938 $10 notes were issued in substantial quantities as regular circulation currency. The eBay price data showing an F (Fine) condition example selling for $54 in October 2024 indicates these notes remain affordable and regularly available in the collector market. The AU grade specimen and low serial number (O00002) provide some collector appeal, but this remains a commonly encountered note from the final era of Bank of Montreal note issuance.

Issued on January 22, 1938, this Bank of Montreal note was produced during the final years before Canada's transition to the Bank of Canada's unified currency system in 1935. The reverse depicts the Toronto Branch building in neoclassical architecture, reflecting the Bank of Montreal's prominence as one of Canada's oldest and most respected financial institutions during the post-Depression era. The note represents the waning period of individual chartered bank note issuance in the Dominion of Canada.

The obverse features two portrait medallions: G. W. Spinney (General Manager) on the left in formal frontal view, and C. B. Gordon (President) on the right in profile facing right, both rendered in meticulous engraved detail. The center displays the Bank of Montreal's heraldic shield or coat of arms with the denomination and legal tender clause. Ornate decorative borders with geometric scrollwork frame the design, with 'X' symbols in circular frames at the bottom corners and 'B' letters repeated in the design motif. The reverse showcases the Toronto Branch building as an impressive neoclassical structure with Corinthian columns, a classical pediment, multiple stories, and balustrade detailing, surrounded by ornamental circular frames containing the numeral '10' and decorative scrollwork with fan patterns. The entire reverse is printed in green, reflecting the standard color scheme for this issue.

FRONT SIDE: 'THE BANK OF MONTREAL' — The issuing institution; 'WILL PAY TO BEARER ON DEMAND' — Standard bearer note promise; 'TEN DOLLARS' — Denomination in words; '22ND JAN. 1938' — Issue date; 'MONTREAL' — Place of issue; 'GENERAL MANAGER' and 'PRESIDENT' — Signature titles for C. B. Gordon and G. W. Spinney respectively; 'OF THE DOMINION OF CANADA' — Legal jurisdiction; 'CANADIAN BANK NOTE COMPANY, LIMITED.' — Printer attribution. BACK SIDE: 'BANK OF MONTREAL' — Issuer identification; '10' — Denomination in numerals; 'TORONTO BRANCH' — Depicted branch office; 'TEN DOLLARS' — Denomination; 'CANADIAN BANK NOTE COMPANY, LIMITED.' — Printer attribution.

This note was produced using intaglio (engraved) printing by the Canadian Bank Note Company, Limited (CBNC), the primary security printer for Canadian chartered bank notes of this era. The fine line work evident throughout the design, the sharp portrait rendering, intricate border patterns, and detailed architectural representation of the Toronto Branch all demonstrate the classical intaglio process, which was the standard security printing method for high-value currency during this period.

This note is cataloged as Pick P-S562b, indicating it belongs to the standard 1938 Bank of Montreal $10 issue with the documented signature combination of G. W. Spinney (General Manager) and C. B. Gordon (President). The serial number O00002 represents an extremely low serial number from the O series, which may indicate an early printing run. Signature varieties are documented for this issue, and this particular combination appears to be a standard production variety rather than an error or rare variant.