When the Bank of England introduced the polymer GBP5 note featuring Winston Churchill in September 2016, something unusual happened: people began setting aside the very first notes they received. The AA01 prefix — signifying the first print run — became immediately collectible. The pattern has repeated with every new polymer denomination since.

Why First-Run Notes Are Special

The appeal of AA01 prefix notes is the same as the appeal of low number notes generally: being first. An AA01 note is literally among the first of its kind to enter circulation. For a new design — especially a new polymer series — that historical primacy translates directly into collector demand and long-term appreciation potential.

AA Prefix Value by Serial Range

Prefix and Serial RangeGBP5GBP10GBP20
AA01 000001-000010GBP200-GBP1,000+GBP300-GBP1,500+GBP400-GBP2,000+
AA01 000011-000100GBP80-GBP250GBP120-GBP400GBP200-GBP600
AA01 000101-001000GBP30-GBP100GBP50-GBP200GBP80-GBP300
AA01 001001-999999GBP15-GBP50GBP20-GBP80GBP30-GBP120
AA02-AA05 (low serial)GBP8-GBP25GBP12-GBP40GBP20-GBP60

AA01 Notes with Fancy Patterns: The Premium Combination

An AA01 prefix note that also has a fancy serial — a radar within the AA01 run, a very low number, or a repeater — combines two independent sources of collector value. These are rare by definition and attract strong bidding from UK collectors who know exactly what they are looking at.

Enter just the 6-digit numeric portion of your UK note into the FancySerial.money GBP checker to check whether your AA prefix note also carries a fancy pattern premium.

AA PrefixUKPolymerBank of EnglandFirst RunGBP

Frequently Asked Questions

What is an AA prefix banknote?
An AA prefix banknote is a Bank of England note from the very first print run of a new series. The double-A prefix signifies the earliest notes off the press for that denomination.
Are all AA prefix notes valuable?
AA01 notes with low serial numbers (below 001000) are the most valuable. Higher serials within AA01 have modest premiums. Notes from AA02, AA03 etc. have smaller premiums still.
How do I know if I have an AA01 note?
Look at the prefix on your Bank of England note. If it reads AA01 followed by the serial number, you have a first-run note. The lower the serial within that prefix, the more collectible.
What are AA01 polymer GBP5 notes worth?
AA01 GBP5 Churchill polymer notes in uncirculated condition typically sell for GBP15-GBP50 depending on the serial. AA01 000001 through AA01 000100 command the strongest premiums.