Today's value for old Wills & Probate

[Berlin-Bob]

There are several topics on this under Value of Old Money in the
RootsChat Reference => Lexicon ^{(click here)}

The topics include more links to currency converters and lots of discussions about how to compare relative values from "then" and "now" - comparing price of houses ? price of beer ? wages ?, etc.

regards,
Bob

[Ruskie]

Is that £1,548 pounds 3 shillings and 10 pence? If so, it's probably worth nothing. In fact if that was a bank in Australia you'd probably be up for some fees and charges.

Why do you say it would be worth nothing Ruskie?  Surely when currency was converted, the bank balances would have been converted too??

Dawn M

I was kindof joking Dawn. 

I understand about the value of money then compared to now, however if I had deposited £1,500 into a bank account 115 years ago and not touched it, wouldn't I still have £1,500 pounds in that account? (that's not taking any interest into account of course).

£1,500 in 1896, according to the NA currency converter, is worth over £89,800 in today's money. But if I deposited £1,500 in the bank in 1896 I would not be able to withdraw £89,800 today.

Or have I got the wrong end of the stick completely and misunderstood Deb's question and your reply?     (highly likely  )

[Deb D]

'T'was basically a hypothetical question.  I just wondered whether anyone was clever enough to work out how much could be there, including interest, after 114 years 

[Billyblue]

Depends on the rate of interest paid, if any.
Many banks 'freeze' accounts if there is no activity after a certain period.
It also may have been in an account which didn't attract interest anyhow?

In some countries, if there is no activity and the owner cannot be found, whatever is in the account goes into Consolidated Revenue.   So like Ruskie said, even if in jest, there might be nothing there at all!!          

Dawn M