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11th Jun 2024

King Charles bank notes predicted to sell for as much as £20,000

Charlie Herbert

king charles bank notes

Some of the notes could be worth a fortune

New bank notes featuring King Charles III’s face are predicted to sell for up to 1,000 times their monetary value.

The first bank notes featuring the king’s face have entered circulation in recent days, making King Charles just the second monarch to feature on money in the UK, after Queen Elizabeth II.

Whilst the front of the polymer bank notes have been changed, the revers remains unchanged.

Just like with coins, collectors have been keen to get their hands on the first notes to feature a monarch other than Queen Elizabeth II.

Whilst there all worth the same in shops, some of the notes could be worth thousands to the right person. This is all down to the serial number on each note.

Each bank note has its own unique serial number to identify and date it with a four digit prefix. Each prefix has 999,000 notes, from 000001 to 999000.

The Daily Mail’s This is Money page has now revealed the prefixes for each note which will identify it as the first to be printed with King Charles’ face on.

These are:

  • £5: CA 01 000001 
  • £10: HB 01 000001
  • £20: EH 01 000001
  • £50: AJ 01 000001

Each of these notes was presented to the king himself, so unless Charles decides to pop down to the local corner shop and spend the notes, they won’t ever be entering public circulation.

King Charles III is presented with the first bank notes featuring his portrait (Getty)

However, if you can get your hands on a note with one of the above prefixes and a low serial number, it could be worth much more than you think.

Auctioneers Spink & Son revealed last week that a King Charles £5 note with an “unprecedentedly low” serial number of CA01 000003 would be going under the hammer for an estimated £3,000 to £5,000.

But some experts reckon it could go for even more.

Simon Narbeth from bank note seller Colin Narbeth & Son said: “Without a doubt this note will sell for at least £13,000, if not more.

“This is the lowest serial number for a £5 note to be auctioned since a £5 note presented to former Prime Minister Harold McMillan in 1957 was auctioned in 2021, which also had the serial number 01 000003.

“That note sold for £22,000 at auction.”

And at a charity auction on June 27, a £10 note with the serial number HB01 000002 will be sold, with Narbeth expecting this to go for £20,000 as collectors look to get their hands on the uber-rare note.

Spink & Son will be auctioning 152 rare £5 notes on Thursday, with the range estimating to go for prices anywhere between £150 to £5,000.

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