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5 Dollars / 1 Pound 10 Pence Royal Bank of Canada
| Issuer | Royal Bank of Canada |
|---|---|
| Year | 1920 |
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| Composition | Log in to see details |
| Size | 185 × 89 mm |
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| Obverse description | Central vignette of an ocean steamship underway at sea, framed within a rectangular border with fine guilloche work. The bank title THE ROYAL BANK OF CANADA arches across the top in bold letterpress, with denomination panels reading FIVE BRITISH GUIANA DOLLARS THE EQUIVALENT OF £1-0-10 at left and right. Date and place of issue appear at lower left, with two manuscript signatures below the vignette, one titled GENERAL MANAGER and the other PRESIDENT, above the imprint of the American Bank Note Company. |
|---|---|
| Obverse lettering | THE ROYAL BANK OF CANADA WILL PAY TO THE BEARER ON DEMAND AT GEORGETOWN BRITISH GUIANA THE SUM OF FIVE DOLLARS IN BRITISH GUIANA CURRENCY BEING THE EQUIVALENT OF ONE POUND AND TEN PENCE REDEEMABLE ONLY IN BRITISH GUIANA GEORGETOWN BRITISH GUIANA FIVE BRITISH GUIANA DOLLARS THE EQUIVALENT OF £1-0-10 |
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| Comments |
The dual denomination — 5 Dollars on one face, 1 Pound 10 Pence on the other — was a direct commercial necessity, not a design curiosity. The Royal Bank of Canada maintained significant operations in the British Caribbean, and notes that could pass on either side of that currency divide saved the cost of maintaining two separate series. This particular issue was authorized under the Bank Act and printed by the American Bank Note Company's Ottawa plant, which had been established specifically to reduce Canadian dependence on the New York facilities.
The pound-dollar parity reflected here — 1£10s to $5 — was the longstanding fixed rate used across the Eastern Caribbean at the time.