That the new twelve-sided pound coin is probably worth about the same as the old threepenny bit was in its day?
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No
The same thought occurred to me, but when you work it out inflation hasn't been that bad.
1983
I remember watching a voxpop on the tv news when they first came out. "It doesn't seem like real money if it's not banknotes" said one old lady.
I can just imagine people saying exactly the opposite when sovereigns were called in.
.
I liked that thought.
So for lunch time fun (well we are all accountants) 4 in a shilling, so one shilling = 5p
3 old pennies is 1.25 new pence
Inflation is 12 times since they went out of circulation in 1971, so about 15p.
To make it worth a £1 now, you would have to go back to 1915 prices.
Shall I get my coat?
Easier way
I liked that thought.
So for lunch time fun (well we are all accountants) 4 in a shilling, so one shilling = 5p
3 old pennies is 1.25 new pence
Inflation is 12 times since they went out of circulation in 1971, so about 15p.
To make it worth a £1 now, you would have to go back to 1915 prices.
Shall I get my coat?
Gosh! That's longwinded. If inflation is twelve-fold, every old penny is would a shilling now.
3d then = 3 bob now.
Why is it going to take so long?
Did I read that it won't come out till 2017 or something? They should have asked me, I can turn out something similar on my lathe in a few hours, all I need is dimensions & weight.
Yes, it's been a lot easier with the current round one, but I'd give it a go.
Circulation?
With a shape like that can it enter circulation?
At least online you can't be hit by tomatoes!
Farthing
I hate to admit it, but I can remember when the farthing was legal tender. I always considered it an attractive coin as it had a picture of a wren on it. In case you were wondering there were 960 farthings in a pound.@lionfludesch, I was born into a decimal world and cant count in 12's.
Me too
I hate to admit it, but I can remember when the farthing was legal tender. I always considered it an attractive coin as it had a picture of a wren on it. In case you were wondering there were 960 farthings in a pound.@lionfludesch, I was born into a decimal world and cant count in 12's.
Me too, old dog.
16 farthings = 1 groat
6 groats = 1 florin
2½ florins = 1 crown
4 crowns = £1
What was the problem ?
Shillings & pence
I remember a period where a trick went around school where you put 8 & 11 (8 shillings and 11 pence) in someone's hand then added 5 shillings one at a time, asking them to count them out as you did so, ie 9&11, 10&11 etc etc, till they got to 13&11, most people then counted up the money and found they only had 12&11.
Ha - I miss those simple days
I learned all the reciprocals
To do calcs for wages & programming. I still remember them, eg. 17/6p was .875 of a £1, 19/11 was .99583', .etc.
Why is it I can remember things like that, but can't remember the name of the new client I signed up recently?
Why so long
I assume that the delay is so that vending machines, carpark machines and trolleys can be adapted.
Indeed
I assume that the delay is so that vending machines, carpark machines and trolleys can be adapted.
That's a huge job for the industry. Though if the size and weight are the same, maybe not.
Any one got shares in
a company that designs slot machines? I feel they may be busy and profitable
The old threepenny bit ...
... to some of us was a small round silver coin - admittedly more often found in Christmas Puddings than in one's pocket.
In the late 1940s it was worth about 50p in today's terms.
And it was never pronounced "threepenny" (thr-up-knee bit)
Farthings
Yes, I remember spending them - in the little sweet shop on the way to school - Black Jacks or Fruit Salad were four-a-penny and you could buy just one. Even spent the rarer silver threepenny bit.
When I went to the states the exchange rate was 2.40 dollars to the pound. Really easy calculating prices as that was the number of old pence to the pound.
What a waste of time and money
So the new coin is to prevent counterfeiters, who in one sense on a minor scale are doing far less harm than quantitative easing, so is it really worth the cost and inconvenience of the new coin??
£73million
According to this http://news.bbc.co.uk/1/hi/7988001.stm there are about £70million in fake pound coins in circulation. Not much compared to government waste granted, but still large scale crime.
Peanuts
According to this http://news.bbc.co.uk/1/hi/7988001.stm there are about £70million in fake pound coins in circulation. Not much compared to government waste granted, but still large scale crime.
Some MPs claim more in expenses.
and the reason for the action...
of course because its the banks who lose out presumably....