RARE coins are common knowledge but did you know you can make money from rare bank notes too?
Rare £20 notes have sold for multiple times their face value and in the past people have bagged thousands of pounds.
But you may not know what makes a £20 note rare.
Often, it's one with a quirky serial number. Here's how to cash in on your spare change.
Early serial numbers
Every note issued by the Bank of England has a serial number and it often donates notes with significant numbers to the people and institutions involved in making it.
For example, the first note with the serial number AA01 000001 is given to the King.
Its rare notes with special serial numbers make it into 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 lots of the early-stage notes to charities for auction.
But it has previously confirmed not all the early £20 notes were reserved - that means some of the rarest AA notes are still in circulation.
AA notes are the most valuable, but anything with an A in it could be worth more than the value of the note itself.
For example, an AA01 £5 note sold on eBay for over £60,000 in 2017.
It goes without saying, that you might not always fetch this amount for a £20 note, but it does help give you an idea of how much they are worth.
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Consecutive serial numbers
Bank notes that have consecutive serial numbers are also ones to keep an eye on - especially if the numbers are low.
If you can combine an early serial letter with a consecutive number you could be onto a winner.
For instance, if you get one with AA1234567, it's likely to be popular.
These are the notes collectors will be willing to pay the most for.
Two notes with the serial numbers AA01090561 and AA01090562 sold for more than £50 in March 2020.
To make a profit, people usually try and sell them on eBay or Facebook, sometimes making hundreds of pounds.
You can always head to experts to get your change validated, that way you'll know if it's the real deal, and checking other eBay listings can often give you an idea of the value.
How can I check if my error coin is genuine?
RARE and valuable coins can go for a hefty sum - but how do you know if your coin is the result of a genuine minting error?
The best way to find out if you have an error coin is to send it to the Royal Mint museum, which will analyse it and see if it is a result of a genuine minting error or not.
It'll normally take a couple of weeks to get the results back to you.
But remember, there's a difference between a genuine error coin and one that is just imperfect, for example with a design that is not as clear as you'd expect.
And whatever you do, don't be tempted to splash your cash without evidence from the Mint confirming that it's a genuine error.
Special meanings in serial numbers
When the Jane Austen £5 notes came out in 2017 there was lots of interest in numbers that were linked to her life.
For instance, collectors hunted for the serial numbers 16 121775 and 18 071817 because they are the author's birth and death dates.
Also, the £20 notes released in 2020 feature artist JMW Turner, so serial numbers with his birth date - 1775 - could be a winner.
If you find one starting with an A that also includes his birth date that should be worth even more.
One special serial number to keep an eye out for is 1775 1851 which combines the painter's birth and death date.
A note starting with JT could be valuable in theory, but there would have to be a lot of notes printed to reach this, so the notes are unlikely to end up in circulation.
There are also sets of serial numbers that always prove popular regardless of who is on the note, for instance, 007 for James Bond or AK47.
AK47 noteshave been listed for as much as £160,000 but most have been selling for about £100.
In other news, one super rare coin fetched its owner a whopping £10,000.
How do I safely store valuable coins and notes?
HERE are some tricks to keep your valuable coins and notes safe:
-Store your coins in individual containers
-Put it in a clear, air-tight holder that lets you see the coin from both sides
-Avoid putting them in clear plastic sandwich bags because they can still rub against each other and may cause scratches or marks
-Store your collection in a folder or album, although tarnishing may occur quicker than in an airtight container
-Keep them out of a damp environment. You can use silica gel to help prevent damp
-Wear clean, white gloves when handling the coins
-Steer clear of using PVC materials as it traps moisture and releases acidic gases which can damage the collection.
As well as spotting notes with rare serial numbers keep an eye on notes with uncommon errors.
A £20 note without the Queen's head on the holographic part of the design sold in the past for £69.89.
Although we don't have paper notes anymore it's work keeping any out for those too as some vintage ones have got for as much as £115.
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