1 Dollar

The Union Bank of Prince Edward Island issued this note just one year before the colony joined Canadian Confederation in 1873 — a moment that would render the bank's provincial charter subject to federal oversight almost immediately after this series entered circulation. The timing matters: PEI held out longer than any other British North American colony, and its small network of chartered banks had operated in relative isolation, dealing in currency partly tied to the old Halifax currency system rather than a decimalized Canadian dollar standard.

The Union Bank itself survived Confederation but not for long, absorbed into the Bank of New Brunswick by 1883. Notes from this 1872 issue had a short effective lifespan.