Over the summer, Spink & Sons, in collaboration with the Bank of England, hosted a series of four auctions that garnered significant attention. These auctions featured low-serial banknotes from the newly released King Charles III series. The auctioned notes included £5, £10, £20, and £50 denominations, and the event proved to be both a milestone for collectors and a successful fundraiser for charitable causes.
Record-Breaking Sales
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The highlight of the auctions was the remarkable amount raised for various charities. In total, £914,127 (approximately $1.17 million USD) was collected. This sum benefited ten different charities, each of which received a share of the proceeds. The auction set a new record for the highest amount ever achieved in a Bank of England banknote auction. A single £50 sheet fetched an astonishing £26,000 ($33,423 USD), marking a historic moment for currency collectors. This was followed by another remarkable sale: a £10 note with the serial number HB01 00002, which sold for £17,000 ($21,853 USD).
Charities Supported by the Auction
The charitable impact of the auction cannot be overstated. The funds raised went to support ten different charities, including the Bank of England’s three current “charities of the year”: The Childhood Trust, The Trussell Trust, and Shout, which is powered by Mental Health Innovations. In addition to these, seven other charities that had not previously benefited from charity polymer banknote auctions also received support. These include:
- Carers UK
- Demelza
- WWF-UK
- The Brain Tumour Charity
- London’s Air Ambulance Charity
- Child Bereavement UK
- Samaritans
Each of these organizations plays a vital role in their respective areas, supporting causes ranging from mental health and child welfare to environmental conservation and emergency medical services.
A Historic Change in Banknote Design
The auction also marked a historic event in the world of British currency. The King Charles III banknotes are the first to feature the new monarch, following the passing of Queen Elizabeth II. Since 1960, Queen Elizabeth II had been depicted on Bank of England banknotes, and the introduction of King Charles III represents a significant shift. These notes continue the current series of banknotes, with the serial numbers beginning where those for Queen Elizabeth II’s notes left off.
The King Charles III banknotes not only carry historical significance for collectors but also symbolize the transition of the British monarchy and its presence on the nation’s currency.
Conclusion
The summer auctions of Spink & Sons were a unique blend of history, philanthropy, and record-breaking sales. The funds raised will have a lasting impact on the ten supported charities, all of which work tirelessly to improve lives and address critical issues in society. Moreover, the sale of King Charles III banknotes will be remembered by collectors and historians alike as a pivotal moment in the evolution of British currency.