The first banknotes in the UK's new currency system recently sold at a record auction for 11 times their face value.
The new notes, with a face value of £78,430, have raised a staggering £914,127 for charity after being auctioned off in a series of successful sales.
The new £5, £10, £20 and £50 notes, featuring King Charles III, went into circulation in June.
According to the BBCWhile the monarch received a complete set of the first issues, which included notes with a serial number ending in 000001, numerous other notes with lower serial numbers were auctioned off.
The £10 note with the serial number “HB01 000002” fetched an impressive £17,000 during the auction, while a sheet of 40 connected £50 notes, with a face value of £2,000, sold for £26,000, setting a new record for any Bank of England auction.
The record-breaking auction by London-based auctioneers Spink is credited to collectors looking for banknotes bearing the serial number closest to “000001.”
When the notes entered circulation in June, collectors visited branches that had stock of notes on the first day and even the Bank of England had a long queue outside. BBC reported citing Correos.
Sarah John, the bank's chief cashier, whose signature appears on the notes, was “delighted” by the “remarkable” amount raised at the auction, which will be shared equally between 10 charities chosen by the bank.
It is the first time that the monarch has appeared on Bank of England notes, as Queen Elizabeth II was the first to appear routinely on Bank of England notes since 1960.
However, the monarch does not appear on Scottish banknotes.
