How do you know if your new €20 note is a 'rare' note worth hundreds of euros?

Most people know that rare coins can be turned into coins, but did you know that rare banknotes can also be lucrative?

Rare £20 notes have previously sold for several times their face value and even for tens of thousands of pounds.

But you may not know what makes a €20 note rare.

Often it is one with a quirky serial number. Here's how to cash in your change.

Early serial numbers

When the Bank of England issues a new note, it donates the notes in significant numbers to the people and institutions involved in their production.

For example, the first note with serial number AA01 000001 is given to the King.

But there aren't many with very early serial numbers in circulation, which is what households will end up with after a quick shopping trip.

For that reason, these types of banknotes are highly coveted and worth much more than their face value.

The Bank of England also tends to donate many of the early stage notes to charities for auction.

But it has previously confirmed that not all early £20 notes were reserved – meaning some of the rarest AA notes are actually in circulation.

AA notes are the most valuable, but anything with an A in it can be worth more than the value of the note itself.

For example, a £5 AA01 note sold on eBay for more than £60,000 in 2017.

It goes without saying that you might not always get this amount for a £20 note, but it will give you an idea of ​​how much they are worth.

Consecutive serial numbers

Banknotes with consecutive serial numbers are also banknotes to keep an eye on, especially if the numbers are low.

If you can combine an early serial letter with a serial number, you could be on a winner.

For example, if you get one with AA1234567, it's probably popular.

Two banknotes with serial numbers AA01090561 and AA01090562 sold for more than £50 in March 2020.

To make a profit, people usually try to sell them on eBay or Facebook, sometimes making hundreds of dollars.

Special meanings in serial numbers

When Jane Austen's £5 notes were released in 2017, there was a lot of interest in figures linked to her life.

For example, collectors looked for the serial numbers 16 121775 and 18 071817 because these are the dates of birth and death of the author.

Also, the £20 banknotes released in 2020 feature artist JMW Turner, so serial numbers with his date of birth – 1775 – could be a winner.

If you find one that starts with an A and also includes his date of birth, it should be worth even more.

A special serial number to look out for is 1775 1851, which combines the painter's dates of birth and death.

A note starting with JT could in theory be valuable, but to achieve this many notes would have to be printed, so the notes are unlikely to enter circulation.

There are also series of serial numbers that always prove popular no matter who is on the note, for example 007 for James Bond or AK47.

AK47 notes have been listed for as much as £160,000, but most have sold for around £100.

In other news, a super-rare coin fetched its owner a whopping £10,000.

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