The United Kingdom’s first new banknotes featuring King Charles III were auctioned for 11 times their face value, setting a record.
The notes, with a face value of £78,430, raised an astounding £914,127 for charity after several successful sales.
Introduced in June, the new £5, £10, £20, and £50 notes quickly attracted attention from collectors. The BBC reported that while the monarch received a complete set, including a note with the serial number “000001,” many other low-numbered notes were also auctioned.
A £10 note with the serial number “HB01 000002” fetched £17,000, and a sheet of 40 connected £50 notes, valued at £2,000, sold for £26,000, setting a new record for any Bank of England auction. London-based auctioneers, Spink, conducted the record-breaking auction, driven by collectors eager to own notes with serial numbers close to “000001.”
When the notes entered circulation in June, collectors flocked to branches with the first-day stock, and the Bank of England saw long queues outside, according to the BBC and the Post Office. Sarah John, the Bank’s chief cashier, whose signature appears on the notes, expressed her delight at the “remarkable” amount raised, which will be shared equally among 10 charities chosen by the Bank.
This marks the first change in the monarch featured on Bank of England notes since Queen Elizabeth II became the first to appear routinely on them in 1960. However, Scottish banknotes do not feature the monarch.
