A rare King Charles III £5 banknote has sold at auction for £11,000.

The very first banknotes to feature an image of King Charles III were released on June 5, and ones that display the serial number CA 01 on the bottom right of the note are particularly valuable to collectors. One of the notes, with the serial number CA 01 000003, sold for an incredible £11,000 this week at a charity auction held by Spink and Sons.

The auction also saw nine other rare £5 King Charles III banknotes fetch up to £7,000 – again due to their low serial numbers. There will be separate auctions held for the rarest £10, £20 and £50 notes will be held on June 27, July 11 and July 24 respectively. This is what their serial numbers are and how much they sold for, according to The Sun :

CA 01 000005 – £7,000

CA 01 000007 – £4,800

CA 01 000011 – £3,500

CA 01 000012 – £1,500

CA 01 000013 – £1,800

CA 01 000014 – £1,600

CA01 000015 – £1,600

CA01 000016 – £1,500

CA01 000019 – £1,400

The portrait of King Charles III now appears on all new £5, £10, £20 and £50 polymer notes. Old banknotes with pictures of the late Queen Elizabeth II will remain legal tender, which means you’ll still be able to spend them in stores – they’ll just be slowly replaced by the King Charles III banknotes when they become damaged.

The back of the new banknotes still feature Winston Churchill on the £5, Jane Austen on the £10, JMW Turner on the £20 and Alan Turing on the £50. The design of notes also continue to follow the existing colour scheme and patterns introduced with the switch to polymer in 2017.

Speaking before the notes were revealed, Bank of England 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.”

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