The Bank of England has announced that an auction of King Charles III banknotes has raised £914,127 (USD $1.2 million) for charity.
Following the issuance of the first new King Charles banknotes in June 2024, low serial number banknotes were auctioned for charity alongside a public ballot. Over the summer, auction house Spink & Sons held four auctions for each of the new £5, £10, £20 and £50 notes, with the BoE’s Chief Cashier and Executive Director of Banking, Sarah John, opening the bidding on the first lot for the £5 auction.
The King Charles banknotes mark the first time the Bank of England has changed a monarch on its banknotes. Her late Majesty, Queen Elizabeth II, was the first monarch on banknotes, beginning with £1 banknotes in 1960.
The King Charles banknotes are a continuation of the current series, and, as such, the serial numbers commence from the next available cypher following those previously used for the production of notes featuring Queen Elizabeth II.
The auctions raised £914,127 for ten charities, as noted above. These include the Bank’s three current ‘charities of the year’ as well as an additional seven previous charities of the year that did not benefit from the proceeds of a charity polymer banknote auction held since 2016.
The current three charities of the year are The Childhood Trust, The Trussell Trust, and Shout (powered by the charity Mental Health Innovations). The other charities to benefit from this auction and the ballot are: Carers UK, Demelza, WWF-UK, The Brain Tumour Charity, London’s Air Ambulance Charity, Child Bereavement UK, and Samaritans.
The auction broke the record for the highest lot sold in a Bank of England banknote auction, with a £50 sheet going for £26,000. This was followed by the £10 auction where a single note was sold for £17,000 with the serial number HB01 00002.
Sarah John, Chief Cashier and Executive Director of Banking said,
“I am thrilled that the auctions and public ballot of low numbered King Charles III banknotes have raised a remarkable £914,127 that will be donated to ten charities chosen by Bank of England staff. Each charity does incredible work and the monies raised will have a positive impact on people across the UK.”
