1042

Sovereign Bank of Canada Stock Certificate

Currency:CAD Category:Coins & Paper Money Start Price:250.00 CAD Estimated At:500.00 - 600.00 CAD
Sovereign Bank of Canada Stock Certificate
SOLD
400.00CAD+ buyer's premium + applicable fees & taxes.
This item SOLD at 2017 Jun 02 @ 21:33UTC-4 : AST/EDT
Buyer’s Premiums will be added on all items as per the Terms & Conditions of the sale. Invoices will be emailed out after The Toronto Coin Expo.
The Sovereign Bank operated from 1902 until going into liquidation early in 1908.  It was not absorbed by any other bank, but was supported by stronger banks, enabling it to go out of business in an orderly fashion.  Collectors will be familiar with the $5 notes of 1902 and 1905 with their magnificent portrait of King Edward VII.  Sovereign Bank notes are rarely offered for sale.  This stock certificate, dated December 1907, is for one quarter share, amounting to $25, and numbered F58.  Fractional shares were created as a result of a reduction in the bank’s capital at the end of 1907, which saw every existing share replaced by three-quarters of a new share, and they could be accumulated and exchanged for whole shares.  Another superb banking related item, rare.