5 Dollars

The Banque Canadienne Nationale was itself only two years old in 1925, formed by the 1924 merger of the Banque Nationale and the Banque d'Hochelaga. This note is among the earliest issued under the consolidated institution's name, printed before the bank had fully standardized its visual identity across denominations.

Canadian chartered bank notes remained legal private currency until the Bank of Canada Act of 1934 forced the gradual withdrawal of all chartered bank issue — BCN notes were fully retired by 1950. Survivors in any grade are underrepresented in collections relative to the major English-Canadian banks, partly because BCN's circulation was concentrated in Quebec and its notes saw harder use.