King Charles banknotes can be worth loads (Image: PA)
Rare coins have captivated collectors in recent months, but it’s worth knowing banknotes might also be a goldmine – especially those bearing the portrait of .
These potentially valuable notes went into circulation on June 5, 2024. The new series presents His Majesty on the £5, £10, £20, and £50 notes without altering the existing designs.
With these notes now established in circulation, particular serial numbers can drastically increase their value, potentially by thousands. user @CoinCollectingWizard, who boasts 216,000 fans, recently divulged some insights into this phenomenon.
In one of his latest TikToks, he explained: “Now there are King Charles banknotes out in the wild, collectors are looking for low and unique serial numbers.
“Coins which feature 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.”
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He added: “Low serial numbered notes on new issues are of huge interest to collectors and can be found on the old Queen Elizabeth notes too.”
So what’s the going rate for these numbers according to the coin expert?
A mere £5 note with a low serial number could see you pocket between £250 to £500. Meanwhile, £10 and £20 notes with coveted serial numbers could be exchanged for an eye-watering £500 and £1,000 respectively.
He emphasised: “A £50 note then could go for several thousands of pounds.”
The user explained the interest comes from their low serial numbers, indicating they’re among the first printed, closest to “000001”, which are often gold dust for collectors and can fetch staggering sums at auction due to scarcity.
So just remember – the lower the serial number, the higher the value.
Since uploaded, the video has attracted nearly 50 likes and scores of comments. Among the responses, one intrigued fan commented: “Good luck.”
For those lucky enough to have such a rare find, getting in touch with an expert to assess its worth is strongly advised.