QUID'S IN
Rare detail to spot on new King Charles banknotes that reveal if they are worth a fortune
We reveal more details below on auctions coming up where you can snap up the rare notes
NEW banknotes featuring King Charles III are entering circulation from today - but some in particular could be worth a fortune.
His Majesty's portrait will appear on the existing designs of all four banknotes, with no other changes made.
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The switch from currency featuring the late Queen Elizabeth II will be gradual and new notes with the King's face on will only be issued to replace worn-out ones or to meet an increase in demand.
The first new-look notes to be released will be circulated from a small number of Post Offices if you're keen to snap one up though.
But some of the new notes entering circulation will be worth more than others, with their owners able to sell them on for £100s.
Every banknote features its unique serial number to identify and date it with a four-digit prefix.
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For each prefix, there are 999,000 notes printed and put into circulation - from 000001 to 999000.
The Bank of England (BoE) already revealed in April what the lowest serial numbers are on the new King Charles notes for the four different amounts. These are:
- £5: CA 01 000001
- £10: HB 01 000001
- £20: EH 01 000001
- £50: AJ 01 000001
You will not be able to get your hands on any £5, £10, £20 or £50 notes with the above serial numbers.
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Arnas Savickas, head of banknotes at auctioneers Spink and Son, said the most sought-after serial numbers for the four different notes will start from:
- £5: CA 01 000003
- £10: HB 01 000002
- £20: EH 01 000002
- £50: AJ 01 000003
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If you land one of these serial numbers you could expect to earn potentially thousands of pounds.
The BoE has not confirmed whether the notes with the CA01, HB01, EH01 or AJ01 prefixes are entering circulation today.
They will likely work their way into circulation in the coming weeks and months.
However, the bank also said notes with serial numbers higher than 000001 may be held back and might not enter circulation.
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You can snap up the banknotes with lower serial numbers at several charity auctions hosted by Spink and Son too.
An auction will take place on June 13 for a lot of 11 £5 notes, then a further auction will happen on June 27 for £10 notes.
Two more will take place on July 11 and July 24 for the £20 and £50 notes respectively.
You can find more details about the auctions via the auctioneer's website at www.spink.com.
Mr Savickas said some of the lowest serial numbers could sell for up to £10,000.
Bear in mind, that the King Charles III banknotes with low serial numbers sold at Spink and Son's auctions might not always enter general circulation.
The auctioneers said most people who buy these rare notes are usually veteran collectors who don't intend to resell them.
That doesn't mean they might not crop up on eBay at some point though, so you should keep an eye out over the coming months and years.
It's not just low serial numbers that could make your King Charles banknote valuable.
If you stumble on a banknote of any denomination with an eight at the end of the serial number or a block of eights, it could fetch a lot.
Serial numbers with solid blocks included are worth a lot to collectors too. So, if you find one with an 111111 serial number, for example.
Other valuable serial numbers
Some Jane Austen £5 notes, which came out in 2017, can fetch decent sums, with plenty of collectors keen on them.
Serial numbers 16 121775 and 18 071817 are particularly valuable because they are the author's birth and death dates.
Also, the £20 notes released in 2020 featuring artist JMW Turner, so serial numbers with his birth date - 1775 - can sell for big amounts.
If you find one starting with an A that also includes his birth date that should be worth even more.
For example, one special serial number to keep an eye out for is 1775 1851 which combines the painter's birth and death date.
There are also sets of serial numbers that always prove popular regardless of who is on the note, for instance, 007 for James Bond or AK47.
AK47 notes have been listed for as much as £160,000 but most have been selling for about £100.
How to sell a rare banknote or coin
It's not just rare banknotes that can sell for plenty of cash, but coins as well.
There are three ways you can sell either of the legal tender - on eBay, Facebook, or in an auction.
If you're selling on Facebook, there are risks attached.
Sellers have previously been targeted by scammers saying they want to buy a rare coin and asking for money upfront for a courier to pick it up.
But it's a ruse to get money out of you and the courier is never sent.
To avoid this happening, it's always best to meet a Facebook seller in person when buying or selling anything.
Ensure it's a public meeting spot that's in a well-lit area and if you can, avoid using payment links.
Most sellers prefer to deal with cash directly when meeting to ensure it's legitimate.
The safest way to sell a rare coin is more than likely at auction. You can organise this with The Royal Mint's Collectors Service.
It has a team of experts who can help you authenticate and value your coin.
You can get in touch via email and a member of the valuation team will get back to you.
You will be charged for the service though - the cost varies depending on the size of your collection.
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You can also sell rare coins on eBay.
Always bear in mind when selling any rare coin, you will only get what the seller is willing to pay for it.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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