Banknotes Featuring King Charles III Sell for Over 11 Times Their Value
Banknotes with a face value of £78,430 have raised more than £914,000 for charity through recent auctions, which is over 11 times their face value. The notes, including £5, £10, £20, and £50 denominations, were issued in June and feature the new King Charles III design.
Notably, a £10 note with a low serial number, HB01 000002, sold for £17,000. Another auction saw a sheet of 40 connected £50 notes, worth £2,000, sell for a record £26,000. The four auctions organized by Spink in London attracted significant interest from collectors, who often seek banknotes with serial numbers close to 00001.
The total raised will benefit ten charities, including Childhood Trust, The Trussell Trust, and The Samaritans. The Bank of England’s chief cashier, Sarah John, expressed delight at the impressive amount raised.
This is the first time King Charles III has appeared on Bank of England notes, following Queen Elizabeth II, who had been featured since 1960.
Despite a decline in cash use, recent data shows a rise in cash transactions, with a record £3.77 billion handled by post offices in July. HSBC has also pledged not to close any bank branches until at least 2026.
Credit : BBC
https://www.bbc.com/news/articles/cn9l3gnvpgzo