There were 12 shillings in a pound, and the pound was worth $5 then, so in raw money three shillings was worth $1.25. The value of that amount a century later, I think, more an exercise in value choices than economics.
Steve C
· 2 years ago
I believe it was 20 shillings to the pound, and the pound was fixed at $4.80, so I say 3 shillings in 1903 was $0.72. I found an online currency deflator (cool!) which provides some options as to the current equivalence.
In 2006, $0.72 from 1903 is worth: $17.02 using the Consumer Price Index $13.80 using the GDP deflator $74.70 using the unskilled wage $98.22 using the nominal GDP per capita $364.69 using the relative share of GDP
Dave Brooks
· 2 years ago
20 shillings - ah, you're right. 12 pence in a shilling, I believe.
All Comments
In 2006, $0.72 from 1903 is worth: $17.02 using the Consumer Price Index
$13.80 using the GDP deflator
$74.70 using the unskilled wage
$98.22 using the nominal GDP per capita
$364.69 using the relative share of GDP