By Howard Lloyd

Copyright dailyrecord

A rare £5 note has fetched a staggering 560 times its face value on eBay, and a money expert suggests there could be more lurking in your wallet. The King Charles III banknote was first circulated on June 5, 2024. This is the first note to feature a different monarch following the passing of Queen Elizabeth II on September 8, 2022. These notes are only being printed to replace existing stocks of £5 notes bearing an image of Elizabeth II, making them relatively scarce. However, according to Coincollectingwizard , it is not just the rarity that makes these notes so desirable. One recently sold on eBay for a whopping £2,800 – 560 times its face value. He explains that collectors are ‘on the hunt for the early, low-numbered issues of the new monarch’s notes’. The numbers Coincollectingwizard refers to are the serial numbers, and he has provided a list of the numbers you should be checking for in your wallet to see if you’re sitting on a small fortune. “A rare King Charles III £5 note recently fetched £2,800 on eBay – that’s 560× its face value,” he said. “What made it so valuable? The serial number. Collectors are on the hunt for the early, low-numbered issues of the new monarch’s notes. “Do you have a hidden treasure in your wallet? Here’s what to look out for:” •Early serial numbers (e.g. “000001”, “000002”, etc. )•Unique sequences (repeats, patterns, blocks of digits)•Particularly sought-after prefixes”If you spot one that looks special, get it authenticated – its collector value could be huge.” The Bank of England has announced : “Banknotes featuring a portrait of King Charles III were first issued on 5 June 2024. The portrait of the King appears on existing designs of all four banknotes (£5, £10, £20, and £50), with no other changes to the existing designs. This means you can check these notes in the same way you can check our polymer banknotes featuring Queen Elizabeth II. “Banknotes that feature the portrait of Queen Elizabeth II will remain legal tender and are co-circulating alongside King Charles III notes. “New King Charles III banknotes will only be printed to replace those that are worn and to meet any overall increase in demand for banknotes. Our approach is in line with guidance from the Royal Household, to minimise the environmental and financial impact of this change. “Banknotes featuring the portrait of Queen Elizabeth II, will remain legal tender, and can continue to be used. There is no need to exchange current banknotes for the new King Charles III banknotes. The Bank’s counter at our Threadneedle Street building will only issue Queen Elizabeth II banknotes. “If your business uses, or is responsible, for any machines that accept, sort or check banknotes, you need to plan for their adaptation to work with the new note designs.”