100 Dollars

The Bank of Montreal was one of Canada's chartered banks still issuing its own currency in 1931 — a practice that would end entirely with the Bank of Canada Act of 1934 and the subsequent withdrawal of chartered bank notes from circulation beginning in 1935. At the $100 denomination, these notes were essentially instruments of commercial and interbank settlement rather than everyday currency; very few would have passed through ordinary hands.

The Canadian Bank Note Company in Ottawa had by this point long dominated high-security printing contracts for Canadian chartered issues. Surviving examples at this denomination tend to show minimal handling wear for the obvious reason.