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wodin · 02-06-2011, 03:17 PM

It's a very good thing that sometime in the distant past Great Britain (England then) de-coupled the currency from the price of silver. The article said a Pound Sterling was once the actual value of a pound of silver. Let see (figger-figger), the spot price of silver is about $30 US per ounce troy, there are 20 ounces troy in a pound troy that's $600 US per pound.

Can you imagine what kind of coins would be required if a pound sterling was worth $600 US and a penny was $60 US? why, you'd need a tenth of a penny, worth about three pounds, and a thousandth of a penny worth about three pence.

Sorry, it probably would be more relevant to figger that in Euros, but trying to figger it in Euros is just too complicated for my American brain.

02-06-2011, 03:17 PM	#26
wodin Illiterate Posts: 10,279 Karma: 37848716 Join Date: Mar 2009 Location: The Sandwich Isles Device: Samsung Galaxy S10+, Microsoft Surface Pro	It's a very good thing that sometime in the distant past Great Britain (England then) de-coupled the currency from the price of silver. The article said a Pound Sterling was once the actual value of a pound of silver. Let see (figger-figger), the spot price of silver is about $30 US per ounce troy, there are 20 ounces troy in a pound troy that's $600 US per pound. Can you imagine what kind of coins would be required if a pound sterling was worth $600 US and a penny was $60 US? why, you'd need a tenth of a penny, worth about three pounds, and a thousandth of a penny worth about three pence. Sorry, it probably would be more relevant to figger that in Euros, but trying to figger it in Euros is just too complicated for my American brain. Last edited by wodin; 02-06-2011 at 03:21 PM.