King Charles banknotes raise more than £900,000 as they sell at auction for more than 11 times face value
13 August 2024, 13:10
A collection of King Charles III banknotes valued around £78,000 have sold at auction for more than £900,000.
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Some of the earliest £5, £10, £20 and £50 notes featuring King Charles’ face raised £914,127 in total during four different auctions at Spink & Son.
The collection of notes that went into circulation in June sold for more than 11 times the original face value £78,430.
They contained the low serial numbers that collectors look for, trying to get as close to 00001 as they can find.
The King received a full set of the first issues - each with a serial number ending 000001.
One single £10 note with the serial number HB01 000002 sold for £17,000 during bidding.
On another occasion, a sheet of 40 connected £50 notes valued at £2,000 were sold for £26,000 - a record for any Bank of England auction.
On the first day following the notes’ circulation in June, collectors visited Post Office branches while there was also an early queue outside the Bank of England in London.
Sarah John, the Bank's chief cashier - whose signature is on the notes - said she was "thrilled" that such a "remarkable" amount was raised.
The proceeds will be shared equally between 10 charities chosen by the Bank.
The ten charities were Childhood Trust, The Trussell Trust, Shout, Carers UK, Demelza, WWF-UK, The Brain Tumour Charity, London’s Air Ambulance Charity, Child Bereavement UK and The Samaritans.
Despite the Bank of England starting to produce banknotes in the 17th century, Queen Elizabeth II was the first British sovereign to appear on one as she featured on a £1 paper note in 1960.
