Banknotes with a face value of £78,430 have raised more than 11 times that amount for charity through a series of auctions conducted by auctioneers Spink in London.

New £5, £10, £20, and £50 notes featuring King Charles III, which entered circulation in June, saw high demand.

A single £10 note with the serial number HB01 000002 sold for £17,000, and a sheet of 40 connected £50 notes, with a face value of £2,000, sold for a record £26,000.

In total, the auctions raised £914,127, with proceeds to be shared equally among 10 selected charities: Childhood Trust, The Trussell Trust, Shout, Carers UK, Demelza, WWF-UK, The Brain Tumour Charity, London’s Air Ambulance Charity, Child Bereavement UK, and The Samaritans.

Sarah John, the Bank's chief cashier, expressed her delight at the amount raised.

This event marks the first time the monarch has changed on Bank of England notes.

Despite a decline in the use of cash overall, the number of people using it primarily for daily expenses has reached a four-year high.