chitty chitty bang bang currency conversion

C

codanblad

a love of bridges
Registered Senior Member
Mod hatThis thread is about how to measure the value of a currency and what makes it change. Below is the original OP:

just wondering what the 30 shillings dick van dyke paid for the car was worth back then, and also where to go to find this stuff out in the future. cheers
 
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Enmos said:
|| Moved from 'Free Thoughts' to 'Business & Economics'.
Click to expand...
OK, by the B&E mod, me.

Replying to the first half* of the OP's question, only half in jest: 30 shillings was worth a car, back then.

What currency or oz of which precious metal would you like it in?**
That will make a big difference in the answer, so perhaps saying "it was worth a car", is the more universal answer.

----------------
* anyone want to tackle the second part - that is a little tougher.

** I am reminded of an old joke, which is probably based on a true event:

American tourist paid in an Italian shop for purchase with 100 dollar bill and was handed a two hands full of Lira. She said:
"How much is this in real money?"
 
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Billy T said:
OK, by the B&E mod, me.

Replying to the first half* of the OP's question, only half in jest: 30 shillings was worth a car, back then.
Click to expand...

mystery solved. i actually did laugh aloud at that though, i understand the answer is complex. and probably involves the word socioeconomic.
 
The film is set (as far as I can tell) somewhere (somewhen?) around the year 1910.
According to this page a typical (annual) wage was ~£70 (policeman) to £1300 (lawyer), with £74 for a general labourer and £105 for a skilled builder.
30 shillings is £1.50.
 
Dywyddyr said:
The film is set (as far as I can tell) somewhere (somewhen?) around the year 1910.
According to this page a typical (annual) wage was ~£70 (policeman) to £1300 (lawyer), with £74 for a general labourer and £105 for a skilled builder.
30 shillings is £1.50.
Click to expand...
Interesting. So in time required to buy the car, it was very cheap. That is probably because it was known to be a very dangerous car, which might at any time suddenly leap up into the air and fly. :eek:

Actually that is good way to measure both value of currency, man's progress and to compare different societies, even across time - how many hours worked to buy things like a common loaf of bread. To make the worker a "standard worker" (Like a "common loaf of bread" is a standard timeless item) perhaps a professional cutting of a man's hair or cleaning his teeth.
 
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I actually tried to find a loaf price, mainly because, looking at those earnings one would be tempted to say that a car was easily affordable by just about anyone: rounding roughly call an average wage £75 which is about £1.50 per week.
One weeks' wage for a car!! I want one!!
Pfft last time I looked at prices here (and was still working) it's closer (far closer) to three-four months' wage for even a basic bottom-end vehicle these days.
 
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