Dominion of Canada $4 Notes
In 1880, the Dominion of Canada government assumed the right to issue $4 notes, restricting the banks whose charters were coming up for renewal to the issue of denominations of $5 and its multiples. The first $4 notes entered circulation in October 1882. Of the total quantity of Dominion notes in circulation, $4 notes made up only a small component.
The original issue of 1882 contained 1,200,000 notes. Stocks of these $4 notes lasted until 1900 when almost 1,000,000 more were printed. The last notes from the first group were delivered to the Finance Department in 1903. No more $4 notes were printed until 1911 when an urgent demand for notes arose. At that time, over 1,600,000 more $4 notes were printed and issued. These were the last $4 notes to ever be issued by the Canadian government.
By 1912, the $4 denomination was being actively withdrawn from circulation and notes were being replaced with the new $5 Dominion notes. By 1950, only $29,000 worth of $4 notes remained outstanding. It is surmised that most of these notes have been lost by fire or decay. Very few are seen today and they continue to command high prices.
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