Hotel manager is quids in after bank gives him £150 of new fivers from first batch off the presses which he is now selling on eBay for £1,200
- Tim Mitchell got £150 worth of new five pound notes from HSBC branch
- Notes that he received in Llandudno had prized serial number of AA01
- Father-of-three has been getting around £40 for each of them on eBay
- Mr Mitchell hopes that he'll make a profit of more than £1,000 on batch
A hotel manager is hoping to make a four-figure profit on 30 new £5 plastic notes after he received the first batch off the press at his local bank.
Father-of-three Tim Mitchell, 50, of Llandudno, North Wales, got £150 worth of new five pound notes from an HSBC branch with the prized serial number AA01.
And with these notes selling for far more than their face value on eBay, he put his fivers up for auction - and has been getting around £40 for each of them.
Quids in: Father-of-three Tim Mitchell, 50, of Llandudno, North Wales, got £150 worth of new five pound notes from an HSBC branch with the prized serial number AA01
Valuable: With the AA01 notes selling for far more than their face value on eBay, Mr Mitchell put his fivers up for auction - and has been getting around £40 for each of them
Mr Mitchell, who manages Chatsworth House Hotel in the town, hopes that his final total for all of the fivers will be about £1,200 - meaning a profit of more than £1,000.
He said: ‘I went to get some £5 notes for change for the day at the hotel. When I checked the notes I found 30 of them had the AA01 serial number.
‘So I went on eBay to see what they were selling for. I saw they were going for £40 or £50 with some special numbers going for far more.
‘I started to put the notes online myself and so far have made £430 from 11 notes. I had £150 worth of £5 notes.
New bills: The £5 plastic notes are said to be cleaner, safer and stronger than paper cash
Out with the old, in with the new: The old fiver, featuring prison reformer Elizabeth Fry, will continue to be valid until May 5, 2017
‘But I am hoping to make well over £1,000 by the time I have sold all the notes.
WHY ARE SOME OF THE NEW FIVERS WORTH SO MUCH?
Britain’s new plastic £5 notes are a valuable collectors’ item - with some apparently fetching up to £800.
One collector revealed he had sold three of the polymer fivers for £460 on internet auction site eBay.
Notes with low serial numbers in the first printing run have become prized collectors’ items.
Each unique number can be found twice on the reverse side of the note – which features a portrait of Sir Winston Churchill – on the left hand side and the bottom right.
The first fiver – bearing the number AA01 000001 – was presented to the Queen, leaving up to 999,998 others with the same prefix.
A total of 440 million fivers have been printed, meaning there is roughly a one in 440 chance of a note having a valuable AA01 serial number.
‘I find it bizarre that people want to pay £40 for a fiver but I’m not complaining - it is a good payday.’
Now he has to decide what to spend the money on, adding: ‘I have three children so of course they want some.
‘We were already booked on holiday so this will be great for some spending money for the trip.’
Last month collector Alan Scrase also hit the jackpot after finding three fivers with consecutive AA01 serial numbers when he visisted a bank branch on the day after they were launched.
Bank of England governor Mark Carney said the new note – like those issued in Australia – would be cleaner, safer and stronger than paper cash.
They can survive a splash of claret, a flick of cigar ash and the nip of a bulldog, he claimed.
New security features – such as a transparent window – supposedly make the note harder to counterfeit.
The polymer notes are expected to last an average of five years, compared to the current note’s two years.
The old fiver, featuring prison reformer Elizabeth Fry, will continue to be valid until May 5, 2017.
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