First-Ever King Charles III Banknotes Fetch Rs 9 Crore At Auction, Over 11 Times Their Value

In an incredible auction, the first banknotes with the face of King Charles III have sold for a stunning 914,127 pounds (Rs 9,8600750), according to The Metro. These banknotes, which came into circulation in June, carry a face value of 78,000 pounds and include the newly issued 5 pounds, 10 pounds, 20 pounds, and 50 pounds notes.

Those collectors did really fight for these items, such that a single 10-pound note went for 17,000 pounds just because of the desirable serial number-HB01 00002. Besides, one sheet of 50-pound notes also set a new record and sold for 26,000 pounds, the highest price achieved by any lot in any Bank of England banknote auction, according to the news outlet.

Proceeds will benefit various charities. The gist of what is written here demonstrates clearly that collectors have a preference for banknotes with the lowest possible serial number, especially those near the magic mark of 00001.

Sarah John, chief cashier and executive director of banking at the Bank of England, said: "I am thrilled that the auctions and public ballot of low-numbered King Charles III banknotes have raised a remarkable 914,127 pounds that will be donated to 10 charities chosen by Bank of England staff.Each charity does incredible work, and the money raised will have a positive impact on people across the UK."

Charities that will benefit 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.