A special auction of some of the first banknotes to roll off the presses bearing King Charles III’s face have raised more than £900,000 for charity, more than 11 times their monetary value.
Over the summer, Spink & Sons held four specialist auctions of the new £5, £10, £20 and £50 notes, with the proceeds destined for 10 selected charities.
Collectors are keen to grab the latest banknotes with the lowest possible serial numbers, with the prices paid reflecting interest in the notes that went into circulation in June.
A single £10 note with the serial number HBO1 00002 sold for £17,000, while a £50 sheet sold for £26,000 and broke the record for the highest lot sold in a Bank of England auction.
The Bank of England said the notes sold had a face value of about £78,000.
They were among the earliest notes featuring King Charles’s face that were released with low serial numbers. Ahead of the notes going into circulation, King Charles was presented with a set featuring 00001 serial numbers.
Sarah John, chief cashier and executive director of banking, said: “I am thrilled that the auctions and public ballot of low numbered King Charles III banknotes have raised a remarkable £914,127 that will be donated to 10 charities chosen by Bank of England staff. Each charity does incredible work and the moneys raised will have a positive impact on people across the UK.”
Each charity received more than £91,400 from the auction and ballot. Samaritans, London’s Air Ambulance, Trussell Trust and Carers UK were among charities to benefit.
The King Charles banknotes mark the first time the Bank of England has changed a monarch on its notes. The late Queen Elizabeth II was the first monarch to appear on banknotes, beginning with £1 notes in 1960.
People queued outside the Bank in the early hours on the launch day in June eager to grab the new notes. By midday, listings of “authentic” King Charles banknotes started appearing on eBay, for double or in some cases triple their value.
