Set of King Charles bank notes sell for £900,000 due to unique feature

A set of banknotes featuring King Charles' face have sold for an eye-watering amount at auction.

King Charles ||| bank notes first entered circulation in early June, with the Bank of England explaining that they would be co-circulating with the older notes, featuring the late Queen Elizabeth ||.

The King Charles III notes entered circulation in June. (DANIEL LEAL/AFP via Getty Images)

They explained: "Banknotes featuring a portrait of King Charles III were first issued on 5 June 2024.

"The portrait of the King appears on existing designs of all four banknotes (£5, £10, £20, and £50), with no other changes to the existing designs.

"Banknotes that feature the portrait of Queen Elizabeth II will remain legal tender and are co-circulating alongside King Charles III notes."

Now, a set of notes - which are some of the earliest released featuring the new monarch - have sold for over £900,000 at auction.

One £10 note sold for a staggering £17,000. (DANIEL LEAL/AFP via Getty Images)

While a sheet of £50 notes went for £26,000 - which is the highest price ever reached in a Bank of England auction - a single £10 note sold for a whopping £17,000.

The serial number of the note was HB01 00002 - which is particularly low - explaining why it was so valuable at auction.

Sarah John, chief cashier and executive director of banking at the Bank of England, said she was thrilled about the auction.

She said: "I am thrilled that the auctions and public ballot of low-numbered King Charles III banknotes have raised a remarkable £914,127 that will be donated to 10 charities chosen by Bank of England staff.

"Each charity does incredible work and the monies raised will have a positive impact on people across the UK."

The older bank notes featuring the Queen will also be circulating. (Rasid Necati Aslim/Anadolu Agency)

The chosen charities include the Childhood Trust, the Trussell Trust, Shout, Carers UK, Demelza, WWF-UK, the Brain Tumour Charity, London's Air Ambulance Charity, Child Bereavement UK, and the Samaritans.

The Bank of England explained that each charity received over £91,400 from the proceeds of the auction and ballot.

The bank added that the money could, for example, alleviate the impact of poverty for 2,600 disadvantaged children living in London; support food banks in providing emergency food parcels to over 7,600 people and fund 17 months of pioneering research on one of The Brain Tumour Charity's Future Leaders projects.

The new banknotes featuring King Charles are the first time the Bank of England has changed over from one monarch to another.

Queen Elizabeth || was actually the first royal to feature on the notes.