New £10 notes with King Charles on sell for as much as £17k

The new notes featuring the King's face have been in circulation for two months now.

While some of the legal tender has already been in circulation since June, it's going to take another while before they become a part of everyday use.

At a Bank of England auction this week, hundreds of new low serial number banknotes with the monarchs face on them reached huge amounts.

£5, £10, £20 and £50 notes were all included in the sale.

A record for any Bank of England auction was set when a sheet of 40 connected £50 notes sold for £26,000, after having a face value of just £2,000.

The four sales were run by auctioneers Spink in London and raised a grand total amount of £914,127.

This money will go to a series of charities chosen specially by the bank, including London’s Air Ambulance Charity, The Trussell Trust, and WWF-UK.

The low serial banknotes are highly sought after by collectors. The closer the serial number is to 00001, the more collectable the notes will be.

When the notes entered circulation in June, the Post Office reported many eager collectors visiting their branches to get hold of the notes during the first day.

There were also queues outside the Bank of England in London.

King Charles is only the second monarch to be displayed on £5, £10, £20 and £50 bank notes, as Queen Elizabeth II first featured in 1960.

On the release of the notes back in June, Bank of England governor, Andrew Bailey said: "We know that cash is important for many people, and we are committed to providing banknotes for as long as the public demand them."