| Wes350 |
| (.224 member) |
| 10/11/10 06:04 AM |
Re: British Double Rifle Ledger Price?
|
Quote:
Bob,
Using a more generalized index of "average" earnings as a baseline, the equivalent retail value of 35 pounds in 1896 is more technically shown to be only $26,560 today! Further, although gold is often thought to be the great inflation hedge, it falls short. The current value of a gold sovereign is about $355 (an all time nominal high and with no numismatic premium) which means that your 35 pound rifle would (should?) be selling for $12,425. Just a few years ago when gold was low, the rifles original price would have had a contemporary value of only $8750 in gold terms. Even if gold reaches it's all time "real" high, the thirty five british pounds from 1896 will only have a value of about $19,897.
You also need to take into account the hidden costs added to goods in the 20 & 21st centuries...
Namely the sheer amount of taxes we pay. Remember, the U.S. didn't have income tax until after the turn of the century. No payroll tax, capital gains, social security etc.etc.
And the governments weren't stealing from peter to give to paul with the massive social programs we have today. You throw in the inflation induced by fractional reserve banking and going off the gold standard, and our "money" just doesn't go as far.
The overhead cost of living in the 21st century will suck the life out of you...
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