[Kieron]

What would be the value of a pound in 1963 today?

Any ideas?

(of course back then there were 240pence to the pound....)

[fortean]

Originally Posted by Kieron

What would be the value of a pound in 1963 today?

Any ideas?

(of course back then there were 240pence to the pound....)

It depends what it is really. For example, in 1971 a packet of 10 cigs was the same as a loaf of bread, 19p. But now the loaf cost about £1.20 and the cigs about £2.90.

In 1963 I could buy an Airfix model aircraft, a tube of glue and some sweets for half a crown (12.5p).

By the way, it was 240d to the pound or 240 pennies; pence was introduced for decimal.

Edit:
Just remembered another good example. A mono LP in 1963 would cost £1 whilst the stereo version would be 1 Guinea.

[loz]

based on the retail price index, I recon about £15

http://www.statistics.gov.uk/downloa...onomy/RP02.pdf

approximately...

£1 in 1962 was worth £1.90 in 1974 when they reset the index to 100
from 1974 to 87 the index went up to nearly 400 (so 4x increase)
so £1.90 becomes £7.60
Then in 87 they reset to 100
and currently it is 219, so about 2x
so £7.60 becomes £15.20

[Kieron]

I'm basically trying to piece together the relative amount of money my Grandparents spent on the following watch back in 1963.

Back then it was £58.0.0

Going from the following site...

Measuring Worth - Purchasing Power of British Pound

... we are looking at nearly £2K using average earnings or £874 using the retail price index

It's the watch on the left.

[loz]

Originally Posted by Kieron

I'm basically trying to piece together the relative amount of money my Grandparents spent on the following watch back in 1963.

Back then it was £58.0.0

Going from the following site...

... we are looking at nearly £2K using average earnings or £874 using the retail price index

Which as I said is 15x

[fortean]

Just tried that calculator to see what £1200 pounds from 1958 is worth now; just over £51000 now using average earnings.

Interesting that £1200 is what my parents paid for their house which was last sold for £235000 in 2007.

[loz]

Originally Posted by fortean

Just tried that calculator to see what £1200 pounds from 1958 is worth now; just over £51000 now using average earnings.

Interesting that £1200 is what my parents paid for their house which was last sold for £235000 in 2007.

and will be back down to £1200 come 2009

[loz]

Originally Posted by Kieron

Going from the following site...

Measuring Worth - Purchasing Power of British Pound

Useful link.
Thanks