Rare £5 notes sell for £3,500 on eBay – check serial numbers worth thousands

Check your wallets for these bank notes that could be worth a lot more than the number on the front of them – that's because they're sought-after by collectors

They say cash is king – and that's definitely case if you have a rare coin or banknote lying around at home.

Even if you've got an old fiver, it could end up being worth 1,000 times its value. How, you may ask? There are collectors out there who are willing to fork out a fortune for pieces that aren't often seen in circulation.

Among the sought-after notes are those with the 'AA01' prefix, signifying they're from the very first batch to ever be produced. Some also look for prefixes that have specific connotations.

One £5 note that's been catching attention online has the serial code AK47, which is a type of gun. They are currently on sale for between £1,000 and £20,000.

As well as being mindful of serial numbers, there are seven more details you should look out for to identify whether or not your notes are valuable. Take a look at them below...

How to find a rare banknote in the UK

Spotting rare banknotes in the UK involves examining several characteristics that can increase a note's rarity and potential value. Here are some tips to help you identify them:

1. Serial Numbers

• Low Numbers: Notes with very low serial numbers, such as those starting from 000001, are typically more sought after.
• Patterns: Notes with repeating numbers, sequences, or patterns (e.g., 123456 or 888888) can be appealing to collectors.
• Unique or Significant Numbers: Numbers that hold particular significance, like palindromic numbers (e.g., 123321) or numbers marking a special event.

2. Replacement Notes

• These are notes issued to replace faulty ones removed during production and often have distinct serial number prefixes that differ from standard issues.

3. First and Last Series

• Notes from the initial or final print runs of a particular series can be more collectible. These usually have specific serial number prefixes.

4. Printing Errors

• Notes with printing errors, such as misalignments, missing elements, or unusual patterns, can be highly coveted due to their rarity.

5. Condition

• The condition of the note significantly affects its value. Notes in pristine condition, without creases, stains, or tears, are generally more valuable.

6. Limited Editions and Special Releases

• Occasionally, special edition notes are released to commemorate events or anniversaries and can be rarer than regular issues.

7. Historical Significance

• Older notes that are no longer in circulation, especially those from the period before decimalisation in 1971, can be rare.