Canada
The Bank of Upper Canada
1850 - Half Penny
Canadian 1/2d Coin
Bank of Upper Canada was a Canadian bank established in 1821 under a Charter granted by the colony of Upper Canada in 1819. For a long time, it was the largest in the province, like many early Canadian banks, it collapsed in 1866.
In 1850, the Bank of Upper Canada received the right to issue a coinage due to a severe coin shortage. The coinage consisted of 1/2 Penny and 1 Penny Bank Tokens. The obverse of the coins carried a representation of St.George slaying the dragon based on Benedetto Pistrucci's gold sovereign coinage design. The reverse of the coins carried the Coat-of-Arms of Upper Canada.
In 1863, the Bank of Upper Canada complained to the Canadian government that it had a hard time trying to issue their final coinage because of the change to decimal currency. The government bought the coins and stored them in a warehouse as copper bullion. After Canadian Confederation, a proportion of the coins managed to reach circulation, but the majority of the coins were melted in 1873 under government supervision.
The building that housed the Bank of Upper Canada
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