Banknotes of the Commercial Bank of Newfoundland facts for kids

The Commercial Bank of Newfoundland used to print its own special paper money, called Banknotes, a long time ago. This happened between 1857 and 1888. These old banknotes are quite rare today, meaning there aren't many of them left!

The notes often had a picture of a figure that represented "commerce" (which means trade and business) right in the middle. Two companies were responsible for printing these unique notes: Perkins, Bacon and Company and British American Bank Note Company Limited.

Early Money: Pound Currency (1857–1858)

When the Commercial Bank first started printing its own money, they used the "pound" system, which was common in many parts of the British Empire.

• 1 Pound Notes: These notes were issued in 1857 and 1858. They were black and printed on only one side, which is called "Uniface".
• Other Pound Notes: The bank also planned to issue notes for 5, 10, and 20 pounds. We know this because special test versions, called "Proof notes," were made, even if the actual notes weren't widely used.

Changing Money: Dual Currency (1865–1867)

Later, Newfoundland started using both pounds and dollars at the same time. This meant the banknotes had two different values printed on them!

• 1 Pound / 4 Dollars: These notes were issued in 1867. They were black, printed over a light blue background design, known as an "underprint."
• 5 Pounds / 20 Dollars: Also from 1867, these notes had a black design over a reddish-brown underprint.
• 10 Pounds / 40 Dollars: These larger notes were printed in 1865 and 1867, with a black design over a green underprint.

More Dual Currency Notes (1874–1885)

The idea of having both pounds and dollars on the same note continued for several more years.

• 1 Pound / 4 Dollars: Similar notes were printed between 1874 and 1884.
• 5 Pounds / 20 Dollars: These notes, from 1874 and 1885, looked a lot like the earlier ones but had a different fancy pattern in the center. This pattern is called a "guilloché" design.

New Money System: Decimal Currency (1881–1884)

Eventually, Newfoundland switched to a "decimal currency" system, which means money was based on units of ten, like dollars and cents, just like today.

• 2 Dollar Notes: These notes, issued between 1881 and 1884, were black. They featured a seal on the left side and a codfish on the right. The back of the note was blue.

Final Notes: Decimal Currency (1888)

The last series of banknotes from the Commercial Bank of Newfoundland were issued in 1888.

• 2 Dollar Notes: One type of 2 dollar note from 1888 was black with an orange underprint. It showed a sailor on the lower left and a fisherman on the lower right. The back of the note was green.
• Other 1888 Notes: Many other notes from 1888 had a black design over a green underprint, and a green back.
  • 2 Dollar Notes: Some 2 dollar notes looked similar to the ones mentioned above.
  • 5 Dollar Notes: These notes featured a sailor on the lower left and seals on the right.
  • 10 Dollar Notes: On these notes, you could see a picture of Queen Victoria (the Queen at the time) on the lower left and a sailor on the lower right. Some of these notes even had a special "redemption overprint" that said "2 DOLLARS," meaning they could be exchanged for two dollars.
  • 20 Dollar Notes: These notes showed a man, a woman, and a telescope on the lower left, with a dog's head on the lower right.
  • 50 Dollar Notes: The largest note in this series featured a boy and a dog on the lower left, and an anchor on the lower right.