King Charles III’s Debut Banknotes Fetch ₹9 Crore at Auction Over 11 Times Their Face Value

In a remarkable auction, the first banknotes featuring King Charles III’s portrait fetched an impressive £914,127 (approximately ₹9,14,13,587). These banknotes, which entered circulation in June, include denominations of £5, £10, £20, and £50, with a total face value of £78,000 (about ₹77,09,597).

Collectors competed fiercely for these banknotes, with a single £10 note selling for £17,000 (around ₹17,02,439) due to its coveted serial number HB01 00002. Additionally, a sheet of £50 notes set a record by selling for £26,000 (approximately ₹25,83,660), the highest amount ever achieved for any lot in a Bank of England banknote auction.

The auction proceeds will support various charities. The enthusiasm for low-numbered banknotes, particularly those near the sought-after number 00001, was evident from the results.

Sarah John, Chief Cashier and Executive Director of Banking at the Bank of England, expressed her delight, stating, “I am thrilled that the auctions and public ballot of low-numbered King Charles III banknotes have raised an impressive £914,127, which will be donated to 10 charities chosen by Bank of England staff. These charities do incredible work, and the funds will make a positive impact on people across the UK.”

The charities benefiting from the proceeds include the Childhood Trust, the Trussell Trust, Shout, Carers UK, Demelza, WWF-UK, the Brain Tumour Charity, London’s Air Ambulance Charity, Child Bereavement UK, and the Samaritans.