King Charles III banknote auctions raise £914,127 for charity
Bank of England raises £914K for charity from auction of low serial number King Charles banknotes
Following the issuance of our new King Charles III banknotes in June 2024, low serial number banknotes were auctioned for charity alongside a public ballot.
Over the summer, Spink & Sons Opens in a new window held four auctions (£5, £10, £20 and £50) with our Chief Cashier and Executive Director of Banking, Sarah John, opening the bidding on the first lot for the £5 auction.
The auctions raised £914,127 for ten charities. These include the Bank’s three current ‘charities of the year’ as well as an additional seven previous charities of the year that did not benefit from the proceeds of a charity polymer banknote auction held since 2016.
The current three charities of the year are The Childhood Trust Opens in a new window, The Trussell Trust Opens in a new window and Shout Opens in a new window (powered by the charity Mental Health Innovations). The other charities to benefit from this auction and the ballot are: Carers UK Opens in a new window, Demelza Opens in a new window, WWF-UK Opens in a new window, The Brain Tumour Charity Opens in a new window, London’s Air Ambulance Charity Opens in a new window, Child Bereavement UK Opens in a new window, and Samaritans Opens in a new window.
The auction broke the record for the highest lot sold in a Bank of England banknote auction with a £50 sheet going for £26,000. This was followed by the £10 auction where a single note was sold for £17,000 with the serial number HB01 00002.
Sarah John, Chief Cashier and Executive Director of Banking 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 ten 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.
Each charity received over £91,400 from the proceeds of the auction and ballot. This money could support initiatives such as the equivalent of:
The Childhood Trust could alleviate the impact of poverty for 2,600 disadvantaged children living in London, enhancing their physical and mental well-being, safety, and confidence to prepare them for life and ensure a better future.
Shout enabling their volunteers to take 9,140 potentially life-saving conversations with anyone in the UK in need of urgent support with their mental health.
The Trussell Trust supporting food banks in their network to provide emergency food parcels to over 7,600 people who can’t afford to eat, keep warm and pay the bills.
Carers UK could enable Helpline Advisors to respond to over 10,447 enquiries from unpaid carers in need of support (based on an annual average of 35,000 enquiries).
Demelza could pay for two specialist nurses for a year which would provide expert clinical care for children and families wherever is best for them; in a Demelza hospice or in their homes, online, at school or in local communities.
WWF-UK could use this donation to protect and restore our amazing UK nature. WWF is restoring our seas by expanding seagrass meadows to help combat climate change and returning oysters to the Firth of Forth to create thriving marine habitats. On land, WWF is working with partners to restore rare chalk streams, reconnect wetlands that support native species whilst reducing flooding, and collaborating with farmers to help nature thrive.
The Brain Tumour Charity could fund 17 months of pioneering research on one of their Future Leaders projects to find new treatments, improve understanding, increase survival, and bring them closer to a cure. Similar funding research enabled them to announce a breakthrough in paediatric treatments in April this year and have a new medicine available on the NHS.
London's Air Ambulance Charity could fund 41 missions, delivering an advanced trauma team to London’s most seriously injured patients. When there is no time to reach a hospital, their medics deliver life-saving interventions at the scene, with an average flight time of just 7.5 minutes.
Child Bereavement UK could fund their entire Support & Information service, including their freephone Helpline, for three months, providing lifelines for families seeking support after the death of someone important to them.
Samaritans: help cover the cost of training 450 new volunteers to build the skills they need to answer a call to someone in emotional distress.
The King Charles banknotes mark the first time the Bank of England has changed a monarch on our banknotes. Her late Majesty, Queen Elizabeth II, was the first monarch on our banknotes, beginning with our Series C £1 banknotes in 1960.
The King Charles banknotes are a continuation of the current series, and, as such, the serial numbers commence from the next available cypher following those previously used for the production of notes featuring Queen Elizabeth II.
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