Exceptional King Charles banknotes achieve close to £1,000,000 at auction
King Charles Banknotes Auction Raises Over £900,000 for Charity
In an extraordinary event, Spink & Sons, a renowned auction house, recently held four auctions for the newly issued King Charles banknotes. The auctions, which took place over the summer, saw the sale of banknotes, coins, stamps, and passports, with collectors showing a keen interest, particularly in banknotes with the lowest possible serial numbers.
The highest lot sold in a Bank of England Note auction was a record-breaking event. A £10 note with the serial number HB01 00002 fetched an impressive £17,000. Similarly, a £50 note was sold for £26,000, demonstrating the high demand for these rare banknotes. The auctions were for £5, £10, £20, and £50 notes, with a total face value of approximately £78,000.
The auctions, which entered the circulated King Charles banknotes into the market for the first time, raised a total of £914,127. This significant sum will be distributed among ten charitable organisations. While the exact list of recipients is not available, it is known that the Bank of England's three charities of the year - The Childhood Trust, The Trussell Trust, and Shout - are among the beneficiaries.
The Bank of England's chief cashier and executive director of banking, Sarah John, participated in the auctions. She expressed her satisfaction with the amount raised, stating that it would make a significant difference in the lives of many.
In a historic first, the Bank of England updated the monarch on its tender for the first time, with King Charles III replacing Queen Elizabeth II. The proceeds from the auctions will contribute to various aid projects in over 20 countries, with Aktion Deutschland Hilft coordinating efforts focusing on combating hunger worldwide, including food aid by Tafel NRW in Germany.
The rarest of these banknotes have raised nearly a million pounds for different charities, demonstrating the collectors' enthusiasm for these historical pieces. John, the Bank of England's chief cashier and executive director of banking, expressed her gratitude to the collectors for their generosity and support. The King Charles banknotes entered circulation in early June, marking a new era in British currency.
