These notes could be worth hundreds and even thousands to collectors
People are being encouraged to examine any newly-acquired banknotes carefully – as they might be worth a considerable sum. Notes bearing King Charles III’s image with particularly low serial numbers could command prices reaching £5,000 amongst collectors.
In footage shared on TikTok, a specialist operating under the name the Coin Collecting Wizard has outlined precisely what you should be searching for. The coveted notes include£5, £10, and £20 denominations.
It’s essential to scrutinise their serial numbers to find the valuable notes. This identifying number appears on the reverse side of the note in the lower right-hand corner.
Generally speaking, the lower this serial number, the greater the note’s value, though certain alternative numbers and sequences are equally desirable.
He said: “Did you know there are now King Charles banknotes in circulation and there is a serial number on them that could make it very rare and valuable? The king’s portrait will be the only change to existing designs of £5, £10, £20 and £50 notes, and new notes will replace damaged or worn older ones.
“Coins featuring the king are already found in people’s change, but banknotes required lots of preparation. Shoppers can and will still be able to use Queen Elizabeth II banknotes.”
He went on to say: “Low serial numbered notes on new issues are of huge interest to collectors and can be found on the old Queen Elizabeth notes too. The lowest serial number of a five pound could fetch between £250 to £500, while £10 and £20 notes could go for £500 and £1,000.”
In an earlier clip, the specialist elaborated on which types of serial numbers collectors should seek out. He explained: “Notes with very low serial numbers, especially ones beginning with a ‘AA’ or ‘1’ tend to attract the most interest as these are from the very first batches printed.
“Other desirable serial numbers include repeating patterns like ‘123456’ or ’11 11 11 11′, palindromic numbers eg ‘2002’ and numbers with historical significance such as his birthday.”
He highlighted certain specific sequences that might prove especially valuable:
- 123456
- AA01
- 22222222
- 1000003
On its website, the Bank of England acknowledged the significance of serial numbers to those who collect banknotes. It stated: “Ignored by many, the serial numbers on our banknotes are one of a number of features that can spark huge interest among banknote collectors.
“When we release a new banknote, we hold back some of the first printed notes with especially low or symbolic serial numbers. We donate these to people and institutions that were involved in the development of the note or who traditionally receive a note when a new series is issued.”
These are frequently sold at charity auctions, with a 2020 auction of newly minted £20 notes raising a collective sum of £143,420.