£10 banknote with King Charles’s face on it sells for £17,000 at auction
Some of the earliest banknotes to feature the face of King Charles have been auctioned off for a whopping £914,127.
The proceeds have gone to various charities and the notes that have a face value of £78,000 include new £5, £10, £20 and £50 notes that entered circulation in June.
A single £10 note even sold for £17,000 with the serial number HB01 00002.
Meanwhile a sheet of £50 notes went for £26,000, breaking the record for the highest lot sold in a Bank of England banknote auction.
Collectors pay above the odds for the notes that have the lowest serial number possible – or as close to 00001 as they can find.
Sarah John, chief cashier and executive director of banking at the Bank of England, 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 monies raised will have a positive impact on people across the UK.’
Charities that will benefit from the proceeds include the Childhood Trust, the Trussell Trust, Shout, Carers UK, Demelza, WWF-UK, the Brain Tumour Charity, London’s Air Ambulance Charity, Child Bereavement UK and the Samaritans.
The new notes feature the face of King Charles (Picture: AFP via Getty Images)
Some sold at auction for a lot of money (Picture: Bank of England/PA Wire)
There are more than 4.6 billion Bank of England notes in circulation, worth about £82 billion.
The bank started to produce banknotes in the 17th century and Charles’s mother, the late Queen, was the first British sovereign to be given the honour in 1960 on a £1 paper note.
But the use of actual money is declining, with a recent survey for Link indicating that nearly half (48%) of people expect to see a cashless society in their lifetime.
Post offices still handled a record amount of cash in July though, with transactions totalling £3.77 billion.
So looks like cash is here to stay for now.
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