Banknotes with a face value of £78,430 have raised more than 11 times that amount for charity following a series of auctions.

New £5, £10, £20 and £50 notes featuring King Charles III entered circulation in June.

A full set of the first issues were presented to the monarch, but hundreds of other low serial numbered banknotes have gone under the hammer.

One single £10 note with the serial number HB01 000002 sold for £17,000 during bidding.

During another lot, a sheet of 40 connected £50 notes - with a face value of £2,000 - sold for £26,000. That was a record for any Bank of England auction.

The four sales run by auctioneers Spink in London raised £914,127 in total.

Collectors seek banknotes which come as close to the 00001 serial number as possible, hence the large amounts raised.

The proceeds will be shared equally between 10 charities chosen by the Bank:

  • Rayquetzalcoatl
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    2129 days ago

    Jesus Christ. Some people really do have more money than sense.

    • @[email protected]
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      1628 days ago

      It’s a charity auction, there are much worse things for rich people to waste their money on!

      • GreatAlbatrossM
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        528 days ago

        Yep, at least it’s not randos selling notes with “AK 47” on them for £5000.

    • NickwithaC
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      126 days ago

      Then there’s me with more sense than money. How did that happen?