Watch List notes:

Canada, Newfoundland, Grand River Pulp & Lumber Co., Limited. $5. Circular vignette of lumber cutting. Green on white paper. No. 121. Charleton NL30-10-5. Choice Uncirculated. Some light stains are confined to the upper right margin only. Established in 1900, the Grand River Pulp & Lumber Company operated a mill at Hamilton Inlet at the mouth of what is now the Churchill River. The company was owned by investors from Nova Scotia. The firm was granted fifty-year leases on property in Labrador. Redeemable in goods or currency, these notes were probably issued in the early 1900's. We are aware of a 2014 auction realization of $2,500 for a set of five different denominations..

Estimate: $300-500