1937

Unlike the 1935 Series, the 1937 series is printed bilingually so that there is no longer separate English & French versions. In addition, this series introduced the fractional prefix A/A plus a seven digit serial number (accounting for 10,000,000 runs for each typical prefix) and lasted 17 years. It should be no surprise then, that the same colour scheme has been employed for each denomination since the inception of the 1937 Series.

Series & Denominations:

The first Governor and Deputy Governor of the Bank of Canada were Osborne and Towers. Deputy Governor Osborne left shortly after the 1937 series was launched so that the Osborne/Towers signature combination lasted for just a few prefixes in most denominations.

One Dollar - Un Dollar:

BC-21a/P-58a: Any prefix with Osborne-Towers signature runs from A/A to A/E and high grade original notes seem equally prized by most collectors. These notes have also become popular amongst world collectors who may prefer the A/A prefix too.

BC-21b/P58b-c: The first H/A prefix with the Gordon-Towers signature combination had a "Narrow signature panel" just like BC-21a. While prefix H/A (P-58b) is tough the J/A (P-58c) is quite scarce.

BC-21c/P-58d: Gordon-Towers signature combination continues with prefixes K/A to Z/A; A/L to ZL & A/M to N/M are considered "Wide Panel" and less desirable than the "Narrow Panel" though BC-21c O/M is a change-over prefix which would also be highly prized. Only 2.8M banknotes with the O/M prefix were released with the Gordon Towers signatures are represents the tougher of the change-over.

BC-21d/P-58e: The Coyne-Towers signature combination O/M prefix had nearly 7.9M printed and would be much easier to acquire than the shorter last W/N prefix (2.4M).

See images from below for the three signature combinations.

Two Dollars - Deux Dollars:

BC-22a/P-59a: Only A/A & A/B (20M) have the short-lived Osborne-Towers signature combination making it a pretty tough find in any condition.

BC-22b/P-59b: Twice as many banknotes (170M) were printed with the Gordon-Towers signature as compared to the (80M) of the Coyne/Towers banknotes yet more of the latter were kept so that BV remains similar. Only the Z/B prefix was a change-over (4M for Gordon/Towers) and commands a slightly higher premium than a regular prefix.

BC-22c/P-59c: The Z/B prefix from 4M onward have the Coyne-Towers signature combination and command a slightly higher BV. The last L/R prefix was a short run (5.6M) but many were kept.

Five Dollars - Cinq Dollars:

BC-23a/P-60a: The A/C Osborne/Towers only had 8.8M and many speculate that several were called back and destroyed. For whatever reasons, few were ever found, let alone kept, so they have remained a very scarce/desirable banknote to obtain (in any grade)

BC-23b/p-60b: Only X/C prefix (with 5.2M) became a change-over and desirable prefix of the Gordon/Towers signature combination.

BC-23c/P-60c: The X/C prefix (4.8M) with the Coyne/Towers signature seems equally as elusive as the early Gordon/Towers version. While the H/S was a shortened last prefix it doesn't seem to be too hard to get in pretty higher grades.

Ten Dollars - Dix Dollars:

BC-24a/P-61a: While only 6.4M of the A/D prefix has the Osborne-Towers signature it is unlikely that any were called back as the Ten (BC-24a) with the first signature seems far more obtainable than Five (BC-23a). IMO: the B/V in Charlton is far more realistic than SCWPM BV.

BC-24b/P-61b: Less than 900,000 Z/D prefixes with the Gordon-Towers signature on the $10 note were printed before the Coyne/Towers signature change-over.* (see Notable Terms LINK below for explanation of signature, design & imprint year change-overs). It is the toughest change-over in the 1937 series & far rarer than BC-24a/P-61a yet left out of the SCWPM.

BC-24c/P-61c: Only the M/T prefix (2.9M) happens to have been shortened for the Coyne-Towers signature combination. All other prefixes are full runs and don't command a premium.

Twenty Dollars - Vingt Dollars:

BC-25a/P-62a: Only 1.6M banknotes with the A/E and Osborne-Towers signature were released so this one often remains elusive for many collectors. However,

BC-25b/P-62b: The H/E prefix with the Gordon-Towers signature combo had an estimated 1.5M run & can be a tough change-over for the serious collector.

BC-25c/P-62c: The H/E has 8.5M and is a pretty easy change-over prefix with the Coyne-Towers signature variety. The last short prefix L/E (1.4M) can be a much tougher note to find.

Fifty Dollars - Cinquante Dollars:

BC-26a/P-63a: Only a spattering 100,000 notes were released with the A/H prefix and Osborne-Towers signature making this banknote very tough to find.

BC-26b/P-63b: The Gordon-Towers B/H prefix had 4.2M printed making it the most common of the three signature combinations.

BC-26c/P-63c: The Coyne-Towers B/H prefix had 1.1M issued but was the last prefix and most likely kept high denomination for that era.

One Hundred Dollars - Cent Dollars:

BC-27a/P-64a: Only a few (70,000) of the $100 featuring John A Macdonald banknotes had the A/J prefix & the Osborne-Towers signature making these tough yet much more attainable than the $50.

BC-27b/p-64b: The Gordon-Towers B/J prefix had the largest print run with 4.1M printed making it even more obtainable than it's successor (BC-27c)

BC-27c/P-64c: The Coyne-Towers B/J had 0.9M printed and could be tougher to locate than the Gordon/Towers note

One Thousand or Mille Dollars:

BC-28/P-65: This note only had the Osborne/Towers signature and only 15,000 were produced. This note has become quite popular amongst WORLD paper money collectors since it does not come cheap and has a bright pink tint (which seems to remind collectors of the 1935 Shirley Temple $20). It also features Sir Wilfrid Laurier who is later placed on the 1972 Five.

REFERNCES:

In order to really get a clear grasp of what is what for Dominion or Bank of Canada currency, no reference can shine a light to Charlton Standard Catalogue: Canadian Government Paper Money. If you really want to collect specific note & series than I urge you to pick up a copy.