A man holds some newly issued banknotes bearing the King’s portrait outside the Bank of England, London.
Lucy North – Pa Images | Pa Images | Getty Images
LONDON — Auctions of low-serial King Charles III banknotes have raised £914,127 ($1.17 million) for charity, according to the Bank of England.
A £50 note was auctioned for a record £26,000, while a £10 note with serial number HB01 00002 sold for £17,000, the BOE said in a statement. announced on Monday.
Four auctions took place over the summer – for £5, £10, £20 and £50 notes – with the proceeds going to a range of charities, including three Bank of England “charities of the year” as well as seven other organisations that have not benefited from banknote charity auctions since 2016.
Charities include those supporting mental and physical health, children living in poverty, people suffering from hunger, the environment and animals.
The BOE said each charity received more than £91,400 in proceeds.
The new notes, which feature a portrait of King Charles III and will enter circulation on 5 June 2024, are displayed for a photograph after being presented to King Charles III by Bank of England Governor Andrew Bailey and Bank of England Chief Treasurer Sarah John at Buckingham Palace in London on 9 April 2024.
Yui Mok | AFP | Getty Images
King Charles Banknotes has entered circulation for the first time in June and are the first notes to depict a monarch other than Queen Elizabeth II, as the tradition only began in 1960.
The notes featuring King Charles were first published and then released after Elizabeth’s death in September 2022.
Charles can be seen on the front of the £5, £10, £20 and £50 notes, and through the transparent security window on the notes. The design remains the same, also featuring images of historical British figures such as Winston Churchill and Jane Austen.
The BOE has previously said the new notes will only be printed to replace old ones and to meet increased demand for banknotes. The notes featuring Elizabeth II will remain legal tender.
