50 Dollars

The Royal Bank of Canada's 1913 chartered bank issues predate the dominance of the Bank of Canada by more than two decades — Canadian private bank note circulation persisted legally until 1950, though it was effectively wound down much earlier. The American Bank Note Company in New York handled a substantial share of Canadian chartered bank printing during this period, a practical arrangement that reflected the concentration of intaglio expertise on the continent rather than any regulatory preference.

At the $50 denomination, surviving examples from this series are genuinely rare. High-value notes of this era saw limited retail circulation and were used primarily for interbank settlement — heavy commercial use that left few survivors in collectible condition.