5 Dollars Bank of Commerce; Yukon overprint

As a direct result of the Klondike Gold Rush, the Yukon Territory saw a sudden surge of its economy. With no time to print new notes to accommodate, the Bank of Commerce overprinted “YUKON” on existing notes for circulation in the area. While intended for the Yukon, these notes were still technically valid throughout the rest of Canada (although, because this area was rather isolated from the rest of Canada, these notes travelling that far depended solely on merchants bringing them over). After the gold rush, when the economy dropped again, these notes continued to circulate like any regular notes, and were eventually withdrawn from circulation in the same way too. Very few exist today.

While the date is noted as “2nd January 1892,” these banknotes were actually overprinted around 1898 using existing stock of the 1892 banknotes. The colour of the Yukon overprint also varied with each shipment so the banknotes could be identifiable if stolen or lost in transit.