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bob winter
03-08-2010, 08:20 PM
I firend of mine, who clearly has way too much time on his hands, just called me and wanted me to tell him what 70K pounds sterling in 1879 would be worth in current Canadian dollars. This will be tedious to figure out, if I have to do it on my own, but I am sure the figure will be at sombody's fingetips. I would say somewhere between 1 and 3 million but I could be out to lunch, as I oftern am. Scotch, anyone?

The Bigfella
03-08-2010, 08:30 PM
It'd be worth about $109,000.... unless of course, it'd been invested somehow, somewhere. It all depends what return rate you use beyond that.

The Bigfella
03-08-2010, 08:33 PM
Compounded annually at say 5% nominal makes it about $65 mill

At 2.5% nominal, its about $2.75 mill .... but at 7.5% its about 1.4 billion

Captain Intrepid
03-08-2010, 08:36 PM
Apparently there are a few ways to compare money from different eras, so it could range quite a bit. $11 836 056.61 using the GDP deflator for example.

"The GDP deflator is an index of all prices in the economy. It is a good measure for complex products, such as personal computers, or commodities purchased by businesses, such as machinery."

http://www.measuringworth.com/ukcompare/

SMARTINSEN
03-08-2010, 08:48 PM
I do not think that the Pound fiat currency at the time.

At $17.22 per ounce for today's price, then about $19,286,400.

That is in USD.

*1.03 = 19,865,000CAD about.

goodbasil
03-09-2010, 02:50 AM
It's all here.
http://www.bank-banque-canada.ca/en/dollar_book/appendixc.pdf

P.I. Stazzer-Newt
03-09-2010, 06:56 AM
I firend of mine, who clearly has way too much time on his hands, just called me and wanted me to tell him what 70K pounds sterling in 1879 would be worth in current Canadian dollars. This will be tedious to figure out, if I have to do it on my own, but I am sure the figure will be at sombody's fingetips. I would say somewhere between 1 and 3 million but I could be out to lunch, as I oftern am. Scotch, anyone?

You are waay shy....

1879 - we minted 4,126,607 sovs - these currently sell for about 180 a piece so your 70K is now worth 12,600,000
19,423,695.90 Cdn Dollars

SMARTINSEN
03-09-2010, 07:27 AM
You are waay shy....

1879 - we minted 4,126,607 sovs - these currently sell for about 180 a piece so your 70K is now worth 12,600,000
19,423,695.90 Cdn Dollars

So basically at the current market price for silver. This just goes to shows that TylerDurden was right when he said that we should using hard currency.

P.I. Stazzer-Newt
03-09-2010, 07:31 AM
So basically at the current market price for silver. .....

http://www.goldsovereigns.co.uk/images/1879sovereignrev400.jpg

Gold - not silver - and there are people who say that there are investments which are more profitable than gold - whichat best will only hold its value.....

paladin
03-09-2010, 08:26 AM
Which brings a question...I have a pay voucher....U.S. Army "requisitioned" some horses and pigs from great great Uncles farm in Pennsylvania during the War of Northrun Agression"...t'was never paid. Voucher is for $238. With the basic interest what would they owe today if you could collect.

bob winter
03-09-2010, 10:23 AM
Clearly, there is some problem with inflation. I remember in the dawn of time when I was taking economics I noticed that the powers that be on occasion changed the base year for inflation calculations. As I recall, at one point in Canada it was 1948 and then I think it was changed to 1960. God knows what year is in use now but I have a fuller appreciation of the reasons for the change.

seafox
03-09-2010, 11:18 AM
I've used a inflation calculator that picked the year 1967 for the constant value year by the early 2000s it took $5.50 to buy what that doller bought in 1967. Further in 1950 you could buy the same value for 50 cents then and over the past history before that the value of money was such that it took between 50 and 25 cents to buy that dollers value all the way back to 1800. but then this is for america

so was this an inflation question or question about the value of the coins or the metal from back then?

P.I. Stazzer-Newt
03-09-2010, 02:05 PM
Clearly, there is some problem with inflation. I remember in the dawn of time when I was taking economics I noticed that the powers that be on occasion changed the base year for inflation calculations. As I recall, at one point in Canada it was 1948 and then I think it was changed to 1960. God knows what year is in use now but I have a fuller appreciation of the reasons for the change.

Inflation calculations are rather like sausage - most folks are afraid to look closely at what goes into them.

Peerie Maa
03-09-2010, 05:07 PM
5272200 from data produced by Twigger, here (http://www.parliament.uk/commons/lib/research/rp99/rp99-020.pdf) And RPI from 1999 to date.
You'll have to do the to Dollars bit yourself.