Author Topic: Old Money Calculator  (Read 2455 times)

Offline Dannemois

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Old Money Calculator
« on: Tuesday 20 December 16 11:40 GMT (UK) »
Attempting to learn what 6 14s 4d was worth in todays money using an inflation calculator at (www.thisismoney.co.uk) the result was 420.36.? This seemed a bit excessive and I wondered if these calculators take into account the change to decimalisation.  Can someone please check the figures.
anything and everything to do with the village of Brithdir, near New Tredegar in Gwent.

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Offline Ruskie

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Re: Old Money Calculator
« Reply #1 on: Tuesday 20 December 16 11:48 GMT (UK) »
There are several ways to make these calculations.

This might help explain:
https://www.measuringworth.com/ppoweruk/

Offline ReadyDale

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Re: Old Money Calculator
« Reply #2 on: Tuesday 20 December 16 11:48 GMT (UK) »
Attempting to learn what 6 14s 4d was worth in todays money using an inflation calculator at (www.thisismoney.co.uk) the result was 420.36.? This seemed a bit excessive and I wondered if these calculators take into account the change to decimalisation.  Can someone please check the figures.
Wouldn't that depend on 6 14s 4d WHEN? That amount just prior to decimalisation in 1971 would give you a different figure to that amount in 1951 or 1931 or 1911 or .....

Offline Guy Etchells

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Re: Old Money Calculator
« Reply #3 on: Tuesday 20 December 16 11:50 GMT (UK) »
Such calculators are really no better, for a family historian, than sticking a pin in a table of numbers.

The range of calculated results vary enormously depending on what is used to calculate value or worth.
A calculation based on wage per hour will vary from one based on gross domestic product.

Such comparisons are really only comparable over short periods of time, the reason is simple commodities that when they first appear are expensive, such as a computer, will drop in value when they become mass produced. For example a 1Gig hard drive about 10 or 15 years ago cost about 1000 now a new 1 Gig hard drive is practically worthless.

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Offline Berlin-Bob

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Re: Old Money Calculator
« Reply #4 on: Tuesday 20 December 16 11:50 GMT (UK) »
In the RootsChat Reference Library, under 'V' (Value of old money)
http://surname.rootschat.com/lexicon/reflib-lexicon.php?letter=V&lang=EN&input_form=0
you can find a list of (some of the) topics on RootsChat dealing with old money and it's present day value.

Many of these topics have links to various websites, which you can use to cross-check your present result.
Many also explain the thinking behind the 'old' and 'new' values.

regards,
Bob
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Offline Dannemois

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Re: Old Money Calculator
« Reply #5 on: Tuesday 20 December 16 12:09 GMT (UK) »
Sorry missed out the all in imported year 1918
anything and everything to do with the village of Brithdir, near New Tredegar in Gwent.

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Offline ShaunJ

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Re: Old Money Calculator
« Reply #6 on: Tuesday 20 December 16 12:20 GMT (UK) »
Beer was fourpence halfpenny a pint in 1918 ( a 50% increase since the start of the Great War). So 6 14/4 would have bought 358 pints of bitter. That would cost around 1100 in today's money.
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Offline LizzieL

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Re: Old Money Calculator
« Reply #7 on: Tuesday 20 December 16 12:37 GMT (UK) »
Berks / Oxon: Eltham, Annetts, Wiltshire (surname not county), Hawkins, Pembroke, Partridge
Dorset / Hants: Derham, Stride, Purkiss, Scott, Sibley
Yorkshire: Pottage, Carr, Blackburn, Depledge
Sussex: Goodyer, Christopher, Trevatt
Jersey: Fowler, Huelin, Scott

Offline Andrew Tarr

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Re: Old Money Calculator
« Reply #8 on: Tuesday 20 December 16 12:59 GMT (UK) »
Beer was fourpence halfpenny a pint in 1918 ( a 50% increase since the start of the Great War). So 6 14/4 would have bought 358 pints of bitter. That would cost around 1100 in today's money.

Yes, it's interesting how many people consider a pint of beer to be a kind of permanent currency indicator.  In 1918 a good deal of pub beer would have been brewed on-site, and not having to pay for the hidden overheads incurred by today's big brewing chains.

When people start complaining at the rising cost of car fuel, I point out that a liquid costing 5-6 a gallon (= 70p a pint) is pretty cheap compared with beer, which can cost up to 5 times that - and it largely falls from the sky, instead of being dug up in all kinds of inhospitable places and refined.
Tarr, Tydeman, Liversidge, Bartlett, Young