Double check your new five pound notes - collectors are paying hundreds of pounds for the very first batch of banknotes that went into circulation.

The first batch can be identified by a serial code beginning in 'AA01' are the most highly prized.

Some collectors are willing to pay more than 40 times the monetary value of the note for the chance to claim that they own a polymer £5 note that is among the very first the Bank of England ever produced, Somerset Live reports.

One eBay seller, proudly advertising a freshly minted polymer £5 note as "Brand New. Uncirculated. AA01 Serial Number" sold it to a collector for £227.

If a banknote with the 'AA01' prefix is followed by a serial code in the low digits, it becomes even more attractive.

The very first polymer £5 banknote to be produced has been retained by the Bank of England for auction, where it is expected to be sold forbetween £800 - £1,200.

Its serial code is 'AA01 000007' - any notes that were produced just after very first are particularly sought-after.

Unfortunately, once the banknote serial number leaves the vaunted 'AA01' domain its value among collectors slumps dramatically, although there are examples of banknotes with the 'AA' prefix being sold for around £20 online.

To read the complete article, see:
Collectors are paying hundreds for new £5 note - but which ones are worth the most? (www.mirror.co.uk/money/collectors-paying-hundreds-pounds-new-8903425)