It has been officially confirmed that the new banknotes featuring the face of King Charles III were auctioned and sold for 12 times their value, which is positive news as the money raised is used for charitable purposes for foundations.
The current monarch of the United Kingdom appears on the obverse of the £5, £10, £20, and £50 banknotes since last June, yet during the most recent auctions many showed interest in the paper money featuring the King’s face, resulting in a successful fundraising.
Even in the most recent BOE press release published on Monday, August 12th, it was revealed that a £50 denomination bill was sold for £26,000, while a £10 note caught the eye of someone who paid £17,000 for it, a record amount for these auctions.
These bills that were available at the charity auctions raised £914,127 (US$1.17 million), which is earmarked specifically for charity. According to the Bank of England, the money will be divided between ‘charities of the year’ and others that have not benefited from any auctions since 2016.
