The £50 Note That Is Worth £820

Collectors quickly snapped up UK banknotes with low serial numbers at a recent charity auction.

One of the highlights from the Bank of England auction was that a £50 note sold for a staggering £820. The auction was raising money for charity, and at the end of the day managed to make £50,000. The serial number for the note was AA01 000888 meaning it was one of the newest of the brand new £50 note designs. Early serial numbers are cherished amongst notaphilists, paper money collectors. The number 8 is also considered lucky in Asia, which is where most of the collectors live.

The note was one of the recent 2011 designs which has Matthew Bolton, a entrepreneur, and James Watt, a engineer, on one of the sides. It also features the Bank of England Chief Cashiers signature.Another £50 note with the serial number AA01 000013 sold for £700, while AA01 000018 went for £660. The reason why people go to these auctions is because it is the only way for them to get the notes as the bank deliberately held them back for the sales. The notes ending in 01 are given to the Queen, the notes ending with 02 are given to the Duke of Edinburgh and the noted ending with 03 given to the Prime Minister.

The proceeds from the auction will be split between UK charities the British Association for Adoption & Fostering and the Kids Company.