King Charles banknotes go for 11 times face value

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.

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