A selection of some of the earliest banknotes featuring King Charles III has fetched over £900,000 at auction.
Spink & Son conducted four separate auctions, where early editions of King Charles £5, £10, £20, and £50 banknotes were put up for bidding, ultimately raising a total of £914,127.
The banknotes, which had a face value of approximately £78,000, were sold for more than 11 times their original worth.
These notes were among the first to feature the new King’s portrait, complete with low serial numbers, and entered circulation in June.
Collectors highly value these low serial numbers, with many striving to obtain notes as close to 00001 as possible.
The proceeds from the auctions were distributed among ten different charities, with each receiving £91,400.
One particular highlight was a £50 sheet that set a record, selling for £26,000—the highest amount ever fetched for a lot in a Bank of England auction.
Additionally, a single £10 note with the serial number HBO1 00002 sold for an impressive £17,000.
While the Bank of England has been producing banknotes since the 17th century, the tradition of featuring a British sovereign’s portrait began with Queen Elizabeth II in 1960, when her image appeared on a £1 paper note.
Sarah John, the chief cashier and executive director of banking at the Bank of England, expressed her delight, saying, “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 ten charities chosen by Bank of England staff.”
She further noted, “Each charity does incredible work, and the funds raised will have a positive impact on people across the UK.”
