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General => The Common Room => Topic started by: MysticBreeze on Monday 28 June 10 23:47 BST (UK)

Title: 100 pounds in 1845 would be what in todays money?
Post by: MysticBreeze on Monday 28 June 10 23:47 BST (UK)
I have a Welsh will which specifies breakdown in pounds in 1845.  The total value was 800 pounds.  I'm wondering how much that would be in todays money?  Any ideas
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: gortonboy on Monday 28 June 10 23:57 BST (UK)
In 1850, £800 0s 0d would have the same spending worth of today's £46,824.00
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: gortonboy on Monday 28 June 10 23:58 BST (UK)
In 1850, £800 0s 0d would have the same spending worth of today's £46,824.00
 
http://www.nationalarchives.gov.uk/currency/

Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: gortonboy on Tuesday 29 June 10 00:01 BST (UK)
In 1840, £100 0s 0d would have the same spending worth of today's £4,410.00
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: MysticBreeze on Tuesday 29 June 10 00:06 BST (UK)
Thank you so much!   :)
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: stanmapstone on Tuesday 29 June 10 07:43 BST (UK)
Comparing values with those of today is not straightforward because they can be calculated using many different measures, and things which might be expensive now could be cheap then and vice versa. It has been suggested that the most accurate measure would be a comparison of retail price indices.
Current data is only available till 2008. In 2008, £800 0s 0d  from 1845 was worth:
£64,600.00    using the retail price index
£85,000.00    using the GDP deflator
£618,000.00    using the average earnings
£909,000.00    using the per capita GDP
£2,020,000.00    using the share of GDP

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

Stan

Stan
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: ShaunJ on Tuesday 29 June 10 07:51 BST (UK)
£800 would have bought 64,000 pints of fairly strong beer (at 3d a pint) in London in 1845, the equivalent of around £200,000 today.
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: charlotteCH on Tuesday 29 June 10 11:15 BST (UK)
Stan,

Thanks for that link.  Most informative.

You never cease to amaze me with all the factual things you know.  :)

charlotte
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: Berlin-Bob on Tuesday 29 June 10 18:19 BST (UK)
You can find some interesting discussions on the value of old money in the RootsChat Reference Library:

It is interesting how the "value" of money is different according to the different comparisons (cost of housing, cost of beer and groceries, wages, etc, etc, etc)

RootsChat Reference (http://www.rootschat.com/forum/Themes/history/images/english/library.gif)  (http://surname.rootschat.com/lexicon/index.php) => Lexicon (click here) (http://surname.rootschat.com/lexicon/reflib-lexicon.php?letter=V)
Title: Re: 100 pounds in 1845 would be what in todays money?
Post by: stanmapstone on Tuesday 29 June 10 20:41 BST (UK)
If you look at http://www.rootschat.com/forum/index.php/topic,456130.msg3174740.html#msg3174740 you will see that £800 is what a shipwright's family in 1854 could live on for over ten years.

Stan