A series of auctions featuring the newly released King Charles III banknotes has raised a staggering £914,127 for charity.
The banknotes, with a combined face value of just £78,430, saw bidding wars drive prices to over eleven times their original worth.
The auctioned notes, including £5, £10, £20, and £50 denominations, were highly sought after due to their low serial numbers.
Collectors are particularly interested in notes with serial numbers as close to 000001 as possible. One £10 note with the serial number HB01 000002 fetched an astonishing £17,000.
The auction house, Spink, also sold a sheet of 40 connected £50 notes for a record-breaking £26,000. This sale marked the highest price ever achieved for a Bank of England auction item.
The Bank of England gifted the first set of notes, each with a serial number ending in 000001, to King Charles III.
However, hundreds of other low-numbered banknotes were made available to the public, igniting a frenzy among collectors.
The proceeds from the auctions will be shared equally among ten charities chosen by the Bank of England, including the Childhood Trust, The Trussell Trust, and WWF-UK.
Bank of England’s Chief Cashier, Sarah John, expressed her delight at the remarkable fundraising success, highlighting the positive impact the funds will have on the chosen charities.
The auction results underscore the enduring fascination with collectible currency and the generous spirit of collectors who contributed to this significant charitable cause.
