20 Dollars

The Imperial Bank of Canada was one of the smaller chartered banks still issuing its own currency in 1933, a practice that would end permanently with the Bank of Canada Act of 1934 — which established the central bank and set a ten-year phase-out period for chartered bank notes, with legal tender status finally withdrawn in 1945. This 1933 issue was among the last the Imperial Bank would authorize.

The Canadian Bank Note Company in Ottawa printed for most of the remaining private issuers in this period. Imperial Bank notes from the early 1930s are genuinely scarce in any grade, as depression-era hoarding and the eventual redemption program removed most examples from circulation permanently.