Early King Charles bank notes generate $1.17 billion for charity through auctions.

• According to the Bank of England, charity has received £914,127 ($1.17 million) from auctions of King Charles III bank notes with low serial numbers.
• The BOE announced that a £50 sheet was sold for a record-breaking £26,000, and a single £10 note was sold for £17,000.
• In June, for the first time, King Charles' bank notes were introduced into circulation, marking a departure from the previous monarch, Queen Elizabeth II, being depicted on them.

The Bank of England reports that auctions of King Charles III bank notes with low serial numbers have generated £914,127 ($1.17 million) for charity.

On Monday, the BOE announced that a £50 sheet was sold for a record-breaking £26,000, and a single £10 note with the serial number HB01 00002 was sold for £17,000.

Over the summer, four auctions were held for £5, £10, £20, and £50 notes, with the proceeds going to various charities. These charities included the Bank of England's three "charities of the year" as well as seven others that had not received funding from banknote charity auctions since 2016.

Organizations that offer assistance for mental and physical health issues, children in poverty, hungry individuals, environmental protection, and animal welfare are among the charities included.

Each charity received just over £91,400 of the proceeds, the BOE said.

In June, King Charles' bank notes were introduced into circulation for the first time, marking a departure from the longstanding tradition of depicting only Queen Elizabeth II on banknotes, which began in 1960.

After Elizabeth's death in September 2022, notes featuring King Charles were first shown and then released.

The front of the £5, £10, £20, and £50 banknotes features Charles, and his image can also be seen through the see-through security window on the notes. The design has remained the same, featuring historical U.K. figures such as Winston Churchill and Jane Austen.

The BOE previously stated that the new notes would only be printed to replace worn-out ones and to meet any increased demand for banknotes. Elizabeth II's notes remain legal tender.