Posts Tagged ‘Bank of England’
Could your King Charles III Banknote be worth £17,000?
Whenever new banknotes are issued, it causes quite a stir in the collecting community, with serious collectors rushing to secure the notes with the lowest serial numbers.
The Bank of England generally hold back some of the notes with the earliest serial numbers, donating them to the monarch, people or institutions that were involved in the development of the note, but others can fetch hefty sums at auction!
Notes under the hammer
Spink & Sons recently held four auctions for each denomination of the new King Charles III banknotes to raise funds for charity, and a whopping £914,127 was raised overall!
The proceeds from the auctions will be shared between 10 charities that have been chosen by the Bank of England:
- Childhood Trust
- The Trussell Trust
- Shout
- Carers UK
- Demelza
- WWF-UK
- The Brain Tumour Charity
- London’s Air Ambulance Charity
- Child Bereavement UK
- The Samaritans
At the auction for the King Charles III £10 banknotes, a single £10 note with the serial number HB01 000002 sold for an astonishing £17,000!
The £50 banknote auction even broke the record for the highest lot sold in a Bank of England banknote auction. A sheet of 40 £50 banknotes sold for £26,000 – 13 times their face value!
Which serial numbers should you be looking out for?
Whilst the very first banknotes aren’t released into general circulation, there are other serial numbers that are also considered collectable.
JMW Turner £20 Notes
As the polymer £20 note featured JMW Turner on the reverse, some serial numbers matching key dates relating to the painter became highly collectible. For example, 23 041775 represents Turner’s date of birth, whilst 19 121851 relates to his death and 17 751851 would be his birth and death combined.
Image Credit: Bank of England
True Turner fans might also look for 18 381839 representing the date he painted ‘The Fighting Temeraire’ (which featured on the new £20 note) and the date the painting was exhibited at the Royal Academy respectively.
Alan Turing £50 Notes
The £50 note features famous scientist and mathematician, Alan Turing, and similarly to the £20 note, certain serial numbers matching key dates relating to Alan Turing became collectable.
Image Credit: Bank of England
Serial numbers such as 23 061912 (which represents Turing’s date of birth), 07 061954 (which relates to his death) and 09 071941 (which represents the date that the enigma code was cracked by Turing and his team at Bletchley Park during WW2) are all ones to look out for. .
Others include AK47, due to the machine gun connotations, and 007 which could be desirable to James Bond fans.
The hunt is on!
With this news that King Charles III banknotes have recently sold for much more than face value, the hunt is on to find others with interesting or collectable serial numbers.
If you’ve come across any King Charles III banknotes, let us know in the comments where you found it and whether it’s got an interesting or rare serial number!
Safely store your banknote collection
If you do have any King Charles III banknotes in your collection that you don’t fancy parting with, you can securely store them in the Change Checker Complete Polymer Banknote Collecting Pack, which now includes spaces for King Charles III banknotes!
Here’s where you can find the new King Charles III Banknotes…
The new King Charles III Banknotes entered circulation on 5th June 2024, and collectors have been rushing to secure the ones with the lowest serial number. The branch manager at Sunderland City Post Office even said people were queueing waiting for their doors to open on 5th June to get their hands on the new notes.
Only a select few places are stocking the King Charles III banknotes, so far so here’s where you can get your hands on them…
Post Offices
- Sunderland City, SR1, 1RR
- The City of London, EC2M 5TE
- Moorgate, EC2M 5TE
- Broadway, SW1H 0AX
- Houndsditch, E1 7BS
- Piccadilly Plaza in Manchester, M2 1BB
- Portsmouth, PO1 1AB
- Birmingham, B2 4AA
- Great Massingham, PE31 6HP
- Tetbury, GL8 8DB
- Minchinhampton, GL6 9BN
- Windsor, SL4 1AA
- Woodstock, OX20 1SP
- Poundbury, DT1 3AZ
The Bank of England Counter
- Threadneedle Street, London, EC2R 8AH – The counter will be issuing new King Charles III banknotes from 5th June to 11th June 2024 with a limit of £300 per customer.
Bank of England Postal Exchange Service
- You can obtain King Charles III banknotes using the Bank of England’s postal exchange service from 5th June to 30th June 2024 with a limit of £300 per customer.
Apply for postal exchange service here >>
If you’ve managed to get your hands on a King Charles III banknote, let us know where in the comments!
A closer look at the first ever King Charles III Banknotes
Find out everything you need to know about the new banknotes and their special security features by reading our blog >>
First King Charles III Banknotes ENTER CIRCULATION!
The first banknotes featuring King Charles III entered circulation on 5th June 2024, here’s everything you need to know.
Credit: Bank of England
Hot off the press
In November 2023, The Bank of England started printing new banknotes featuring King Charles III at a rate of 6 million in 24 hours. The delay in them entering circulation was apparently caused by machines such as self service tills not being able to recognise the new image and needing to be recalibrated.
Credit: Bank of England Flickr
The Bank of England’s chief cashier, Sarah John, said “There is a lot to do to ensure that machines used up and down the country can accept the banknotes. They all need to be adapted to recognise the new design, with software updates, and that takes months and months. Otherwise, we will be putting a banknote out there that people simply would not be able to use.”
A sustainable transition
Taking guidance from the Royal Household, the new banknotes will only be issued to replace worn or damaged Queen Elizabeth II notes, meaning both monarchs’ portraits will co-circulate for the foreseeable future.
There are approximately 4.7 billion Queen Elizabeth II banknotes currently in circulation, worth an estimated £82 billion, so don’t worry – they’ll still be accepted in shops as well as the new King Charles III notes.
This transition phase will minimise the environmental and financial impact of the change, in keeping with the King’s vision for a more sustainable future.
King Charles III’s portrait will now appear on the front of the notes, an image based on an engraving of a picture of His Majesty taken in 2013, however there will be no changes to the current reverse designs:
- Winston Churchill (£5)
- Jane Austen (£10)
- JMW Turner (£20)
- Alan Turing (£50)
Credit: Bank of England
Security Features
All denominations of the new banknotes share some of the same security features which you can use to verify the authenticity of the note.
Monarch’s portrait in a see-through window
A portrait of King Charles III is printed on the window with the denomination and ‘Bank of England’ printed twice around the edge.
Hologram Image Change
When tilting the note from side to side, the word within the hologram should change between the value of the note, ‘Five’, ‘Ten’, ‘Twenty’ or ‘Fifty’ and ‘Pounds’.
Silver foil patch
A silver foil patch contains a 3D image of the coronation crown.
Print Quality
The printed lines and colours on the note are sharp and clear, with no smudges or blurred edges. If you use a magnifying glass, you should be able to see the value of the note written in small letters and numbers below the monarch’s portrait.
Feel of polymer and raised print
The note is printed on polymer, a thin and flexible plastic. On the front of the note, you can feel the raised print on the words ‘Bank of England’ and in the bottom right corner.
Ultraviolet number
Under a UV light, the denomination number appears in bright green and red on the front of the note.
£5 features
Here are some security features specific to the £5 notes.
Colour changing border
When the note is tilted, a coloured border around the edge of the see-through window and the ‘£’ symbol inside the window will change from purple to green.
Green foil patch
On the other side of the silver foil patch showing the coronation crown, the £5 has a green foil patch featuring the word ‘BLENHEIM’.
£10 features
Here are some security features specific to the £10 notes.
Colour changing quill
When the £10 note is tilted, a coloured quill at the side of the see-through window will change from purple to orange.
Copper foil patch
On the other side of the silver foil patch showing the coronation crown, the £10 has a copper foil patch containing the letters ‘JA’ within an open book, representing Jane Austen.
£20 features
Here are some security features specific to the £20 notes.
A second see-through window
In the bottom right corner of the front of the £20 note, there is a second, smaller see-through window containing the number 20.
Purple foil patch
On the other side of the silver foil patch showing the coronation crown, the £20 has a purple foil patch containing the letter ‘T’ for JMW Turner.
£50 features
Here are some security features specific to the £50 notes.
A second see-through window
In the bottom right corner of the front of the £50 note, there is a second, smaller see-through window containing the number 50.
Hologram change
The £50 note has two gold foil squares on the front, and the images within should change between ‘50’ and the ‘£’ symbol when the note is tilted.
Red foil patch
On the other side of the silver foil patch showing the coronation crown, the £50 has a red foil patch containing the letters ‘AT’, paying tribute to Alan Turing who features on the note.
Rare serial numbers
Whenever new banknotes are issued, it causes quite a stir in the collecting community, with serious collectors rushing to secure the notes with the lowest serial numbers.
The Bank of England generally hold back some of the notes with the earliest serial numbers, donating them to people or institutions that were involved in the development of the note, but others can fetch hefty sums at auction!
For example, serial numbers such as AK47 due to the machine gun connotations, and 007 which could be desirable to James Bond fans are considered collectable, as well as serial numbers representing key dates relating to the figure on the reverse of the note.
On 11th July 2024, a King Charles III £20 note with the serial number EH 01 000002 sold for £7,000 at auction – that’s 350 times its face value!
Find out more about which serial numbers to look out for here >>
A closer look
Where can I find a King Charles III banknote?
Eventually, we’ll start to see King Charles III banknotes crop up in our cash, but as their introduction will be a gradual process, some collectors may not want to wait to get their hands on one.
Check out our list of the first locations to stock the new banknotes >>
Credit: Bank of England
Have you found one in circulation already? Let us know where in the comments!
Safely store your new banknotes
With the release of these new banknotes, now’s the perfect time to start your banknote collection, by owning the Change Checker Polymer Banknote Collecting Pack – with space to securely house all four of England’s polymer banknotes!
