Spink & Son Charity Auction

On June 5, the Bank of England (BOE) released new £5, £10, £20, and £50 bank notes featuring King Charles III. It was the first time a monarch other than Queen Elizabeth II has appeared on Bank of England notes. Notes with low serial numbers, representing the first to roll off the presses, are especially prized by collectors.

Over the summer, Spink & Son conducted a series of auctions of King Charles III bank notes featuring low serial numbers. The proceeds were earmarked for 10 selected charities. The notes collectively sold for 11.7 times their face value, raising a remarkable £914,127 (US$1,180,818). A sheet of 40 of the new £50 notes, normally worth £2,000 (US$2,600), realized £26,000 (US$33,300), the highest value lot ever sold at a BOE bank note auction. Lucky numbers, such as notes with serial numbers ending in 88 and 888, also garnered higher bids.

Gregory Edmund, a Spink & Son auctioneer, said the sales showed that “bank note collecting is growing in popularity,” even as “many people are dispensing with physical cash in daily transactions.”

Each charity received more than £91,400 from the auction. Among the charities to benefit were Samaritans, London’s Air Ambulance, Trussell Trust, and Carers UK.