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Another way to look at it. At that time a £1 coin was a gold sovereign, one of which is worth £800 today. Which makes it £28,800.
by RobotToaster 10mo ago
Another way to look at it. At that time a £1 coin was a gold sovereign, one of which is worth £800 today. Which makes it £28,800.
- gerdesj 10mo agoI remember when the pound coin was first minted and I am 55 years old. In 1915 or so, a single pound (GBP int al) was a banknote ie paper money and was thus until the coin took over in the '80s I think it was. The pound coin is not made of gold. A gold sov. is something completely different. However "sov" is a nickname or perhaps a euphemism for a pound (GBP).
- RobotToaster 10mo agoYou're too young to remember then ;) A sovereign was officially the pound coin from 1817 until 1931, when gold convertibility was abolished. Although it slowly vanished from active circulation from the beginning of WWI. (On a similar note, in 1919 the silver coins were actual sterling silver with £1 being approximately 113g of sterling silver.)