100 Dollars

The Bank of Montreal's 1923 series was printed by the Canadian Bank Note Company at their Ottawa plant during a period when private chartered banks in Canada still retained the legal right to issue their own currency — a right that would effectively end with the 1944 Bank Act amendments. The $100 denomination circulated almost entirely in commercial and interbank transactions; retail use was negligible given average wages of the period.

High-denomination chartered bank notes from this era are genuinely difficult to locate today. Most were retired and destroyed through the clearing system rather than worn out in public hands, meaning survivors tend to be either cancelled remainders or the occasional example that escaped destruction through institutional oversight.