TABLE
SHOWING the current value of a coin containing 113 grains of pure gold, being
equivalent to our modern sovereign, from the first coinage of gold by Henry III to the
present
time.
s. d.
1257 to 1265— 113 grs. of pure gold = 4 2¼
1265—1343 " " 5 0¼
1343—1344 " " 6 3¾
1344—1346 " " 5 5¾
1346—1351 " " 5 10¾
1351—1412 " " 6 3¾
1412—1464 " " 7 0
1464—1465 " " 8 9
1465—1526 " " 9 5½
1526 " " 10 5
1526—1543* " " 10 9
1543 " " 11 9½
1544 " " 12 10
1545—1549 " " 14 1½
1549 " " 14 6½
1550—1552 " " 11 4¼
1552—1561* " " 14 1½
1561—1572* " " 9 5
1572—1578 " " 14 2¼
1578—1582 " " 14 3¼
1582—1601* " " 14 1½
1601—1604 " " 14 4
* In these instances crown gold and standard gold were being coined simultaneously, and
the value of a coin containing 113 grains of pure gold would vary by a penny or two,
according to the quantity and value of the alloy mixed with it. The values given in these
instances in the table are the values for crown gold, which is the metal of which the
present sovereign is made. The coins of standard gold from 1552 to 1561, and from 1582
to 1601, were of the same value as from 1572 to 1578, during which latter period
standard gold only was coined.
s. d.
1604 to 1611— 113 grs. of pure gold = 15 11
1611—1623* " " 17 6
1623—1661 " " 17 6½
1661—1670 " " 18 8¾
1670—1698 " " 19 0½
1698—1717 " " 20 5¾
1717—1884 " " 20 0
The above table shows the comparative value of gold and silver money in England ever
since the former was first coined, and it may be found useful in estimating the real prices
paid for articles at various periods of our history. Thus wheat, for instance, is said to have
been most extraordinarily dear in 1257, when it was sold at 24s a quarter; but the above
table shows that it would have taken nearly six coins containing the same amount of gold
as our modern sovereign to make up those 24s, so that the real price of a quarter of wheat,
in our present language, was not 24s, but £5. 14s 7 The Statute of Labourers in 1350 fixes
the price of a bushel of wheat at l0d, and a day’s wages for haymaking at 1d. But at that
time our present sovereign was worth only 5s 10¾d so 1d at that time was equivalent in
metal value to about 3½d of our money. Of course it must not be forgotten that metal value
is a very different thing from purchasing value; for instance, l0d in 1350 would purchase
about 1/7 part of a sovereign, or about 34d of our present money; but it would also
purchase a bushel of wheat, which, according to the last tithe averages, would now cost
about 5s 8d.
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