Exact detail to spot on new £20 King Charles banknotes which reveals whether it could sell for £1,000s ahead of auction
NEW King Charles III banknotes are entering circulation for the first time – but some could be worth multiple times their face value.
The notes bearing the face of the monarch will slowly replace those featuring the late Queen Elizabeth II.
It will be a gradual process as the old notes become worn or if there is an increase in demand.
The new legal tender comes in denominations of £5, £10, £20 and £50 with the first notes shared between Post Office branches last month.
But some of the notes entering circulation are worth much more than their face value due to specific numbers they have on them.
Every banknote features a unique serial number to identify and date it with a four-digit prefix.
There are 999,000 notes printed and put into circulation – with serial numbers from 000001 to 999000.
But there are some prefixes and serial numbers that denote whether a banknote could be considered rare and worth a lot.
For example, £5 notes with the prefix “CA 01” followed by a low figure are worth a lot of money.
Meanwhile, £10 notes with the prefix “HB 01” followed by a low number could also fetch their owners a decent sum.
When it comes to £20 notes, you’ll want to keep your eyes peeled for any with the prefix “EH 01” followed by a low six-digit code.
Arnas Savickas, from auctioneers Spink and Son, previously told The Sun the lowest possible serial number you might find on a £20 note is EH 01 000002.
Anything slightly higher than that but still low could be worth a fair amount.
So, if you stumble on a note with a serial number like EH 01 000003, or EH 000006, it could be worth a lot.
Spink and Son is holding auctions to sell off some of the rarest £5, £10, £20 and £50 notes entering circulation.
It has already held auctions for £5 and £10 notes with, one £10 note selling for a whopping £17,000.
But it is holding the auction for rare £20 notes on Thursday, with the highest selling £20 note likely to sell for £1,000s.
Bear in mind, Spink and Son said most people who buy these rare notes are usually veteran collectors who don’t intend to resell them.
However, that doesn’t mean others with slightly higher but still low serial numbers won’t crop up on eBay at some point, so keep an eye out for them in your spare change.
Some of the new King Charles III notes with lower serial numbers have already started selling on the website for up to £3,600.
Meanwhile, even if you end up with a King Charles banknote in your change that doesn’t have a low serial number, that doesn’t mean it isn’t potentially worth a lot.
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 are worth a lot to collectors too. So, if you find one with a serial number ending in 111111, 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 is not just rare banknotes that exist, but rare 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.
Some sellers have previously been targeted by scammers who say they want to buy a rare note or coin and ask for money up front to pay for a courier to pick it up.
But the courier is never actually sent and you’re left out of pocket.
Rather than doing this, it’s always best to meet a Facebook seller in person when buying or selling a rare note or coin.
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 or note 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.
You can also sell rare coins and notes on eBay.
But always bear in mind, you will only make what the buyer is willing to pay at that time.
You can search for the same note or coin as you have to see how much the same one has sold for on the website previously.
This can help give you an indication of how much you should sell it for.
What are the most rare and valuable coins?
- Five rarest coins – do you have one?
- The 13 most valuable £2 coins in circulation
- How valuable are the rarest £1 coins?
- Most rare and valuable 50p coins in circulation
- Rare and most valuable 20p coins that could be worth up to £750
- Rarest 10p coins in circulation
- Rare 2p coins revealed
- How to check if you have a rare and valuable banknote
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