The new £20 note launches today

Early adopters of the new £20 notes could be able to make a few pennies by watching out for rare serial numbers.

Every banknote is printed with a unique number. When the new iterations of the £5 and £10 notes were released the earliest ones to be printed had serial codes that began with AA01 followed by an eight-digit number, starting at 00000001.

These notes can be worth more than their face value. Holders should refrain from getting too excited, however, as a £10 note with the AA01 code is currently listed on eBay for £22.25 – so it’s unlikely to make you a millionaire. Still, that’s a return of more than 100pc. 

Why is there a new £20 note and when is it being launched?

The Bank of England has announced that the new £20 note bearing the face of artist JMW Turner is now in circulation. Like the new £5 and £10 notes featuring Winston Churchill and Jane Austen the notes will be made of polymer which the Bank of England says is harder to counterfeit and will last longer.

A £50 featuring Alan Turing will follow in 2021. The public can continue to spend paper £20 notes as usual and these will be gradually withdrawn as they are banked by retailers and the public.