A salutary reminder

[ozjohn]

A florin in 1912 is worth GBP 15.00 in buying power in 2026 . A silver florin contains one third once of silver worth about  GBP 16.00 in 2026. Food for thought I think.  The argument in 1919 was silver had increased in price so debase the currency. the truth was the pound had lost value due to the pressures of WW1 and with the withdrawal gold in 1914 by issuing paper promises despite a short lived return in 1925 until 1931

[Peckris 2]

Britain had had a token currency since 1816. Before then the wild fluctuations in metal prices - especially silver and copper - during the reign of George III saw only very limited strikings of those coins for currency. However, even a token coinage needs to not be unprofitable to produce, which it had certainly become by 1919. I'm sure you're right about the reasons behind that.

Fascinating that the recent rise in silver values more or less brings it into line with the increase in  cost of living  since 1912.

[ozjohn]

4 hours ago, Peckris 2 said:

Britain had had a token currency since 1816. Before then the wild fluctuations in metal prices - especially silver and copper - during the reign of George III saw only very limited strikings of those coins for currency. However, even a token coinage needs to not be unprofitable to produce, which it had certainly become by 1919. I'm sure you're right about the reasons behind that.

Fascinating that the recent rise in silver values more or less brings it into line with the increase in  cost of living  since 1912.

There's a lot of country's central banks buying gold and silver rather than US Treasury bonds.  Food for thought. Australian one pound and ten shilling notes up to the 1930s had the inscription on them with a promise to pay the bearer the value in gold coin long after Britain stopped issuing gold coins for circulation. The Australian branches of the Royal Mint were still minting gold sovereigns.

Edited 1 hour ago by ozjohn