New banknotes with King Charles III’s face have helped the Bank of England raise more than 11 times their face value as part of a charity auction.
Some £900,000 was spent by buyers through a series of charity auctions featuring new banknotes with the face of the King.
The banknotes, which included £5, £10, £20 and £50 with a face value of £78,430, attracted such premiums due to the low serial numbers on the currencies.
Among the notable sales were a £10 note with the serial number HB01 000002, which sold for £17,000, and a sheet of 40 connected £50 notes that went under the hammer for £26,000, setting a record for any Bank of England auction.
In total, four sales took place in London by auctioneers Spink and were able to generate a total of £914,127.
Sarah John, the Bank's chief cashier, welcomed the success of the auction, saying she was "thrilled" that such a "remarkable" amount was raised.
The proceeds from these auctions will be equally divided among 10 charities selected by the Bank, including the Childhood Trust, The Trussell Trust, and The Samaritans.