1937 Canadian Banknotes and Currency Explained

In 1937, the Canadian government introduced a new series of banknotes that would become a staple in the country's currency. These notes featured the iconic portrait of King George VI.

The 1937 Canadian banknotes were printed with a distinctive design, including a vignette of the Royal Crown on the back of the notes. This design element added an extra layer of security to the notes.

Each denomination of the 1937 Canadian banknotes had its own unique serial number prefix, indicating the specific bank that issued the note. For example, a $1 note issued by the Bank of Nova Scotia would have a different prefix than a $1 note issued by the Royal Bank of Canada.

The 1937 Canadian banknotes were made with a paper that was specially designed to be durable and long-lasting, helping to prevent wear and tear over time.

The 1937 Canadian banknotes were a significant change from the previous series. They retained the classical elements of the design from the 1935 Series.

The banknotes featured allegorical themes and figures on the reverse, with a framed numeral in the top corners and the written value of each denomination framed in the lower corners. The obverse had a framed numeral in the top corners and the written value of each denomination framed in the lower corners, with English on the right and French on the left.

Each denomination had a distinct colour, which was a deliberate design choice to address issues with distinguishing banknotes in low light. The Bank of Canada chose to design the $2 banknotes using a terracotta red called "sanguine" as its dominant colour, and also changed the colour of the $5 banknote to blue, the $20 banknote to olive green, the $50 banknote to orange, and the $100 banknote to the same tint of sepia used for the 1935 Series $500 banknote.

The banknotes measured 152.4 by 73.025 millimetres (6.000 by 2.875 in), and all banknotes in the series were printed on the same dimensions. In 1938, the designs were modified to mitigate printing problems of the original design, increasing the width of the signature panel by 2.4 mm.

Here's a list of the 1937 Canadian banknotes, including their denominations, face images, and colours:

The banknotes were printed and issued in 1937, with the $1000 banknote being issued as late as January 1952.

Canadian banknotes in 1937 featured a currency system with the Canadian dollar as the official currency. The Canadian dollar was divided into 100 cents.

The Canadian dollar was pegged to the US dollar at a rate of 1 Canadian dollar to 1.10 US dollars. This exchange rate was set to stabilize trade between the two countries.

One of the most distinctive features of 1937 Canadian banknotes was the use of the British monarch's portrait, which was a requirement for all Canadian currency at the time. King George VI's portrait appeared on several denominations of Canadian banknotes.

The Canadian government issued several denominations of banknotes in 1937, including $1, $2, $5, $10, and $100. These denominations were designed to be widely used in everyday transactions.