A special auction of some of the first banknotes to roll off the presses bearing King Charles III's face have raised more than £900,000 for charity, more than 11 times their monetary value.

Over the summer, Spink & Sons held four specialist auctions of the new £5, £10, £20 and £50 notes, with the proceeds destined for 10 selected charities.

Collectors are keen to grab the latest banknotes with the lowest possible serial numbers, with the prices paid reflecting interest in the notes that went into circulation in June.

A single £10 note with the serial number HBO1 00002 sold for £17,000, while a £50 sheet sold for £26,000 and broke the record for the highest lot sold in a Bank of England auction.

They were among the earliest notes featuring King Charles's face that were released with low serial numbers. Ahead of the notes going into circulation, King Charles was presented with a set featuring 00001 serial numbers.

The King Charles banknotes mark the first time the Bank of England has changed a monarch on its notes. The late Queen Elizabeth II was the first monarch to appear on banknotes, beginning with £1 notes in 1960.

People queued outside the Bank in the early hours on the launch day in June eager to grab the new notes. By midday, listings of King Charles banknotes started appearing on eBay, for double or in some cases triple their value.

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Auction of first King Charles banknotes raises nearly £1m for charity(https://www.theguardian.com/business/article/2024/aug/13/auction-first-king-charles-banknotes-raises-1m-pounds-charity)