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5 Dollars (1 Pound 10 Pence)
| Issuer | Royal Bank of Canada |
|---|---|
| Year | 1938 |
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| Currency | Dollar (1858-date) |
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| Obverse description | Blue-green note with a central intaglio vignette of a large ocean liner at sea, set within an arched frame with guilloche borders. The upper panel carries the issuer title THE ROYAL BANK OF CANADA and the legend WILL PAY TO A BEARER ON DEMAND, with place of issue AT ST. GEORGE'S GRENADA and date JANUARY 3RD 1938 at lower left. Serial numbers appear in red at left and right, with denomination numerals 5 in the corners and a dual-currency statement FIVE GRENADA DOLLARS THE EQUIVALENT OF £1-0-10 at right; two manuscript signatures appear at the foot. |
|---|---|
| Obverse lettering | THE ROYAL BANK OF CANADA WILL PAY TO A BEARER ON DEMAND AT ST. GEORGE'S GRENADA ST. GEORGE'S GRENADA JANUARY 3RD 1938 FIVE GRENADA DOLLARS THE EQUIVALENT OF £1-0-10 IN GRENADA CURRENCY REDEEMABLE ONLY GRENADA 5 DOLLARS THE EQUIVALENT OF £1-0-10 |
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| Comments |
The Royal Bank of Canada's 1938 series was among the last chartered bank notes to circulate legally in Canada before the Bank of Canada Act amendments effectively ended commercial bank note issuance. After 1944, chartered banks were prohibited from issuing notes in denominations under $5, and the gradual phase-out of all chartered bank currency followed — making this late-series note a product of an institution already aware its note-issuing days were numbered.
The dual denomination reflects sterling-decimal convertibility requirements still in force for certain Caribbean and international branch transactions. Not a clerical quirk — a genuine operational necessity at the time.