Granite Geek - Latest Comments in So what’s new?

Re: So what’s new?

Dave Brooks — Tue, 11 Sep 2007 14:46:15 -0000

20 shillings - ah, you're right. 12 pence in a shilling, I believe.

Re: So what’s new?

Steve C — Tue, 11 Sep 2007 12:47:22 -0000

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

Re: So what’s new?

David brooks — Sun, 09 Sep 2007 01:54:01 -0000

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.