Bank of England to Auction Banknotes for Charity

Sarah Woodman, Global events journalist
September 17, 2012 /

The Bank of England will hold a charity auction for its banknotes with low serial numbers on Wednesday 26 September 2012.

The auction will take place from 5.30pm at Spink’s auction house on 69 Southampton Row, Bloomsbury, London WC1B 4ET. The auction will be conducted by Spink Auctioneers.

 The proceeds of the auction will go towards two charities chosen by Bank of England staff:  the British Association for Adoption & Fostering and the Kids Company.  Both charities provide care and support for children in the UK and offer them a better start to build their future.
The British Association for Adoption & Fostering (BAAF) helps to find families for some of the most vulnerable children in the country.  There are nearly 90,000 children in care in the UK who need the security of a permanent family: the BAAF seeks to provide this by finding appropriate family pairings.
The Kids Company provides practical, emotional and educational support to vulnerable children living in inner-city London.  It helps to empower children who have dealt with very insecure home environments, and seeks to provide them with support to grow in confidence and have more fulfilling lives.
The auction will include both single notes and sets.  All the single notes are the new £50 note issued on 2 November 2011 which depict the entrepreneur Matthew Boulton and the engineer James Watt.  The sets are made up from the current £5, £10, £20, old £50 and new £50 all bearing matching serial numbers.
Other notes include a selection of the first printed £5, £10 and £20 bearing the signature of Chris Salmon, Chief Cashier and Executive Director for Banking Services which were issued into circulataion on 12 September 2012.
Each year, Bank of England staff are invited to nominate a charity to benefit from fund-raising throughout the following year.  Staff then vote to select the Charity of the Year.
This is the third auction of low numbered Bank of England banknotes.  Previous auctions were held in 2003 and 2007. In 2003 £20,335 was donated to the Commonwealth Education Fund. And in 2007 £25,105 was shared equally by the charities Chance to Shine and Reading is Fundamental UK.


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