Bank of England turns £78,000 into £900,000 in charity auctions

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.

When the notes entered circulation in June, the Post Office reported collectors visiting branches which had stocks of the notes during the first day. There was also an early queue outside the Bank of England in London.

Sarah John, the Bank’s chief cashier – whose signature is on the notes – said she was “thrilled” that such such a “remarkable” amount was raised.

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