The first banknotes bearing the face of King Charles III were sold at auction for £914,127. The banknotes, which entered circulation in June, are now worth £78,000. The newly issued banknotes are in denominations of £5, £10, £20 and £50.
Collectors love such things. A single £10 note fetched £17,000 at auction just because it had the attractive serial number HBO100002, the BBC reported. A sheet of £50 notes set a new record, selling for £26,000, according to the news agency.
The obsolete banknotes bearing the face of Queen Elizabeth were reclaimed by banks before they issued banknotes bearing the face of King Charles. Charles is the second British monarch to be the face of English banknotes.
The previous banknote bearing the image of Queen Elizabeth II is still valid and in circulation. To make the transition smooth, new banknotes are being issued to replace old and worn ones. The only noticeable change is the face of King Charles. No other changes have been made.
Queen Elizabeth, Charles’ mother, has been the face of British banknotes since 1960.
The proceeds from the auction will benefit various charitable causes.
Sarah John, Chief Cashier and Managing Director of Banking at the Bank of England, said: “I am delighted that the auctions and public vote of the low numbered King Charles III notes have raised a remarkable £914,127, which will be donated to 10 charities selected by Bank of England staff. Each charity does incredible work and the money raised will have a positive impact on people across the UK.”
