Your fiver could be worth a lot more than its face value

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© Bank of England / Flickr
The new £5 note.

The new £5 notes launched by the Bank of England last week are proving to be popular with collectors, who are scouring popular online auction sites looking for any with low serial numbers that are still in good condition.

The new notes, which feature a portrait of former Prime Minister Winston Churchill, are fetching up to £200 on eBay. 

They are the first batch of notes to be made by the Bank of England out of polymer, a plastic film which it says is much stronger and longer lasting than paper, with the added feature that it is much more secure.

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On October 3 the Bank of England will hold an auction of new low serial number £5 notes to raise money for charity. It is expected that the note with the lowest serial number could fetch up to £1,200.

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