[SOC] Duh, I pressed the wrong button didn't I?.

[Paul Bartlett]

A sovereign is legal tender in the UK with a nominal value
of exactly �1. Its real value is somewhat greater (about 75
times, I think) since it's made of solid gold (about a quarter
of an ounce). It has the same sort of status in the marketplace
as the Kruggerand. i.e. It's intrinsic metal value is considerably
greater than its face value.

The shilling survived unchanged physically for quite while until
replaced by a silver coin about the size of a farthing ;-)

The reason for its longevity was that it fit nicely into the
1,2,5 series that now governs British currency. One shilling,
being 1/20th of a pound was thus equal in value to the new
5p piece (which was minted to the same size).

Decimalisation (as it was called) in the early seventies was the
source of a substantial blip in inflation (as the Euro countries have
discovered) since it was a convenient way for retailers to
introduce a price rise without being caught out.

P#529

----- Original Message -----
From: "Dennis Ponsness" <wb0wao@hotmail.com>
To: <soc@mailman.qth.net>
Sent: Tuesday, August 13, 2002 6:28 AM
Subject: Re: [SOC] Duh, I pressed the wrong button didn't I?.


> Ok.. but how much is a soverign?  BTW, when I was in the UK in the early
> '80's there were still coins circulating around that were in shillings.
> Caused me a bit of confusion it did!
>
> 72/73 (Imperial) or 28.35/28.74 (Metric)
>
> Dennis - WB0WAO
>
>
> NJQRP #329
> FPQRP #-347
> SOC   #499
> FISTS # 9299
> GACW #622
>
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