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Beginners => Family History Beginners Board => Topic started by: stewpot72 on Wednesday 23 June 21 15:01 BST (UK)

Title: What's it worth?
Post by: stewpot72 on Wednesday 23 June 21 15:01 BST (UK)
My GGG grandfather was discharged from the army (29th Foot regiment) in 1834 and was granted a daily (per diem) pension of 2 shillings and 1 and a half pence. Does anybody have any idea what that would be worth in today's money?
Title: Re: What's it worth?
Post by: iluleah on Wednesday 23 June 21 15:21 BST (UK)
1 shilling = old 12 pennies and equivalent of 5 pence in the decimal currency system today, so x 2 shillings = 10p... so today it is = to a little over 10p

So that amount in 1934 would be worth around 3 and a couple of pence in today's money

https://www.in2013dollars.com/uk/inflation/1934
Title: Re: What's it worth?
Post by: Erato on Wednesday 23 June 21 15:25 BST (UK)
1834 not 1934.

https://www.in2013dollars.com/uk/inflation/1834?amount=1

Title: Re: What's it worth?
Post by: Mike in Cumbria on Wednesday 23 June 21 15:32 BST (UK)
14.67 per day, ie an annual pension of 5,355
Title: Re: What's it worth?
Post by: Rena on Wednesday 23 June 21 16:03 BST (UK)
Was he an officer?

There's a fascinating list of earnings from the 1200s for various types of jobs on this webpage:

http://www.wirksworth.org.uk/A04VALUE.htm
Title: Re: What's it worth?
Post by: Tickettyboo on Wednesday 23 June 21 16:05 BST (UK)
https://www.measuringworth.com/calculators/ukcompare/

I put in an initial year of 1834, amount of 0 2s 1.5d and a desired year of 2019 (latest the site will give a result for)

Try it depending on what you are hoping to compare, the value of it gives various results
labour earnings came up as 94.08

Worth doing it and reading the explanations, its a complicated (and somewhat inexact) science but gives you a general idea for all the different aspects of the comparisons.

Boo

Title: Re: What's it worth?
Post by: BumbleB on Wednesday 23 June 21 16:21 BST (UK)
I tried this site -

Limited years and amounts - but 2s 2d in 1840 would be worth in 2017 - 7.35

https://www.nationalarchives.gov.uk/currency-converter/#currency-result
Title: Re: What's it worth?
Post by: Jebber on Wednesday 23 June 21 16:23 BST (UK)
I would query whether the OP has read the record correctly, it seems an exorbitant amount. The daily pay for a serving solder in the later Victorian era  was only roughly one shilling a day.
Title: Re: What's it worth?
Post by: stewpot72 on Wednesday 23 June 21 16:37 BST (UK)
He was a sergeant major with about 25 years service. I found his pension details on the Chelsea Hospital pensions web site. He lost his arm in a firearms accident, hence he requested his discharge.
Title: Re: What's it worth?
Post by: Jebber on Wednesday 23 June 21 16:59 BST (UK)
That would account for a larger pension, although it still seems rather high for the times.