A tiny detail on King Charles banknotes could make £5, £10, and £20 notes worth thousands of pounds, according to experts. Banknotes with particularly low serial numbers often sell for significant sums among collectors.
Where to Find the Serial Number
The serial number is located in the bottom right corner on the back of the note. As a general rule, the lower the serial number, the higher the note's potential value.
What to Look For
Collectors are especially interested in serial numbers that begin with an "AA" or "1," as these tend to attract higher amounts. Other patterns that appeal to enthusiasts include sequences like "123456" or "11 11 11 11."
Bank of England Statement
On its website, the Bank of England 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."
Historical Significance
King Charles III is only the second monarch to feature on a Bank of England UK note. While the Bank has produced paper money since the late 1600s, a likeness of the reigning monarch first appeared on a 1960 issue, the £1 note showing Queen Elizabeth II.
In 2022, Bank Governor Andrew Bailey said: "I am very proud that the Bank is releasing the design of our new banknotes, which will carry a portrait of King Charles III. This is a significant moment, as the king is only the second monarch to feature on our banknotes. People will be able to use these new notes as they start to enter circulation in 2024."
