A rare collection of King Charles III banknotes, some of the first of their kind, has fetched more than £900,000 at auction. The notes, which included denominations of £5, £10, £20 and £50, were sold in four separate auctions at Spink & Son, raising a total of £914,127. Despite having a face value of approximately £78,000, the notes sold for more than 11 times their monetary value.
These notes, which were among the first to bear the face of the King, were issued in low serial numbers in June. Collectors often look for these low serial numbers, with the goal of finding numbers as close to 00001 as possible. Proceeds from the auctions were split between ten different charities, each receiving £91,400.
A record was set when a £50 note sold for £26,000, marking the highest-selling lot at a Bank of England auction. A single £10 note with serial number HBO1 00002 sold for £17,000.
The Bank of England began producing notes in the 17th century, but it was King Charles III's mother, the late Queen Elizabeth II, who was the first British sovereign to appear on a £1 paper note in 1960
Sarah John, chief cashier and executive director of banking at the Bank of England, expressed her delight at the outcome of the auctions. She said: “I am delighted that the auctions and public vote of the low-numbered King Charles III notes have raised £914,127 which will be donated to ten charities chosen by Bank of England staff.” He further added that the funds raised would have a significant positive impact on people across the UK.
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