The Hudson's Bay Company, chartered in 1670, operated its own currency system in the subarctic trade network for centuries — denominated not in dollars but in "Made Beaver," a unit of account based on the value of a single prime beaver pelt. By 2020, the HBC was a struggling retail chain that had shed most of its northern operations decades earlier. The Royal Canadian Mint's commemorative program has returned to the company repeatedly, trading on longevity rather than current relevance.
The Hudson's Bay Company, chartered in 1670, operated its own currency system in the subarctic trade network for centuries — denominated not in dollars but in "Made Beaver," a unit of account based on the value of a single prime beaver pelt. By 2020, the HBC was a struggling retail chain that had shed most of its northern operations decades earlier. The Royal Canadian Mint's commemorative program has returned to the company repeatedly, trading on longevity rather than current relevance.