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  • New £10 banknote auctions for 720 times its value
  • Post author
    Paul Fraser
  • aaauctionaustenbankbanknotefollowsjanenotesnumberpressprintingpsserialsoldyear

New £10 banknote auctions for 720 times its value

A low serial number example of Britain's new £10 bank note has sold for £7,200 ($9,500) at auction.

That was the price achieved by the 10th note off the press (bearing serial number AA01 000010) at Spink's charity banknote sale in London on October 6.

New £10

The Queen owns AA01 000001

The polymer bank notes, which feature the likeness of novelist Jane Austen, became legal tender last month.

The result is clear evidence that when it comes to new notes, the lower the serial number the better.

Even the next in line, the 11th off the printing press (AA01 000011) was £2,000 less valuable at £5,200. The 29th example sold for just £1,800 ($2,375).

Where is AA01 000001? The Queen owns it. And those close to the design process nabbed the next eight. 

The new £10, which is said to be stronger and less easily forged than its predecessor, follows the introduction of the polymer £5 last year.

Jesse McLure from the Storage Hunters television programme made a £2,800 ($3,794) profit on a low numbered £5 earlier this year.

He told the MailOnline following the auction: "Last year, there was more risk as the popularity of new notes was not as widely known, hence why it was easier to pick up new low serial numbered fivers for far less than the notes were going for today."

In addition to the AA01 serial numbers, £10 collectors are advised to look out for those with "JA" – Jane Austen's initials.

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  • Post author
    Paul Fraser
  • aaauctionaustenbankbanknotefollowsjanenotesnumberpressprintingpsserialsoldyear