- Royal family and money enthusiasts have convened on the Bank of England
- Members of the public can swap old notes featuring the late Queen Elizabeth II
- New King Charles III notes came into circulation for the first time today
Royal family and money enthusiasts have convened on the Bank of England to get their hands on the first banknotes featuring King Charles III’ face.
Members of the public have been able to swap their old money featuring the late Queen Elizabeth II by going into the building and swapping up to £300 of old notes for new ones.
The new banknotes entered circulation for the first time today, with the very first ones produced in the hands of the King himself.
People started queueing as early as 7am to get in for what might become a valuable new collector’s item – whether that is a £5, £10, £20 or £50.
Every banknote features its own unique serial number and the Bank of England has shared with This is Money the lowest serial numbers printed on the new notes for the four different denominations.
Royal family and money enthusiasts have convened on the Bank of England to swap old notes featuring the late Queen Elizabeth II for new versions with a new monarch
The new banknotes entered circulation for the first time today , with the very first ones produced in the hands of the King himself
The Bank of England has confirmed that the first printed serial numbers are:
• £5: CA 01 000001
• £10: HB 01 000001
• £20: EH 01 000001
• £50: AJ 01 000001
However, you will not find any notes containing those exact serial numbers, as King Charles himself has them.
Instead, those who have travelled to the Bank of England early this morning will be hoping to get a serial number as close to that as they can as these will likely be the most coveted in future – with any serial number under 20 considered exceptionally rare.
This is what happened in 2016, when the very first AA01 polymer £5 notes, featuring Sir Winston Churchill, were changing hands for huge sums of money, creating a countrywide treasure hunt.
An exclusive report from Coventry Building Society for This is Money found that 15 per cent of 2,000 Brits asked said they will hold onto the new notes when they get their hands on them to sell on eBay or at an auction for more money in the future, especially if they have an early serial number.
The Bank of England, though, could not confirm if the CA01, HB01, EH01 or AJ01 notes have entered circulation today, it is likely they will work their way into circulation in the coming weeks and months.
While the addition of King Charles to the new polymer notes is a huge change, the reverse side of each note remains unchanged.
A spokesman for the Bank of England said: ‘These notes are a continuation of our polymer series and the serial numbers follow on from the last printed banknotes featuring Her late Majesty Queen Elizabeth II.’
Collectors and the general public can also get their hands on the new bank notes at a charity auction on June 13 hosted by Spink & Son on behalf of the Bank of England.
Celebrity brothers AJ and Curtis Pritchard shared their experience getting a look at the new notes in advance of their release into circulation today
Also likely to become a collectors item amid the introduction of new notes, is the last batch of banknotes featuring the late Queen Elizabeth.
The last batch of £5 notes featuring the Queen was printed in July 2018 and the last £10 notes in December 2020, as we exclusively revealed last year.
The final £20 notes were printed a month after her death in October 2022 and the last £50 notes in April 2022.
These featured the prefixes:
• £5: BC60;
• £10: EM54
• £20: DM45
• £50: AE80
Simon Narbeth, of Colin Narbeth & Son, said a £50 note with the prefix AE80 sold for £145, but a note must be in mint condition to sell for this much.
