This new King Charles £10 note sells for £17,000 at auction

A new King Charles III £10 bank note has sold for £17,000 at a Bank of England charity auction this afternoon.

The auction, held by Spink & Son on behalf of the Bank of England, features 262 lots of new £10 notes featuring King Charles III.

The HB01 000002 £10 note was auctioned by Bank of England chief cashier Sarah John as lot one, with frenzied bidding both online and in the the room.

It was eventually sold to a buyer on the telephone.

A new King Charles bank note with the serial number HB 01 000003 has sold for £17,000 at a Bank of England auction today

The next lot, a £10 note with serial number HB01 000003, sold for £5,500.

The new £5, £10, £20 and £50 notes have been rolled out across the nation, first entering circulation earlier this month.

The auction of £5 notes on 13 June was the first opportunity collectors and the public had to get their hands on new notes with ultra low serial numbers.

A £5 note with the lowest serial number CA01 000003 sold for £11,000.

Earlier this month, This is Money exclusively revealed the prefixes of the first new notes, which are are CA01 for £5 notes, HB01 for £10 notes, EH01 for £20 notes and AJ01 for £50 notes.

The most valuable new notes are those with low serial numbers beginning with these prefixes, which collectors and members of the public alike are on the hunt for.

This £10 note is the lowest serial number of a new £10 note available to members of the public, Spink & Son confirmed.

The first £10 note with the serial number HB01 000001 is in the hands of King Charles III and This is Money understands that this second note, with serial number HB01 000002, would have belonged to Queen Camilla.

Spink & Son said: Traditionally, the number two bank note is reserved for the Consort of the Sovereign.

'In an evolution of tradition this serial number, for the first time ever, is available to buy for private collectors with all proceeds going to charitable causes.'

The note had an estimate of between £5,000 to £8,000, but one bank note expert This is Money spoke to ahead of the auction said it would far exceed its estimate.

Simon Narbeth, of bank note seller Colin Narbeth & Son, thought it would go for £20,000 due how rare an opportunity it is for collectors to be able to get hold of a note with such a low serial number.

So he was closer to the sold price than the estimate.

The auction of new £20 notes will take place on 11 July and an auction of new £50 notes will take place on 25 July.