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One for the Gold Index Boffins ?

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One for the Gold Index Boffins ? Empty One for the Gold Index Boffins ?

Post  Imadogman Sat May 14, 2011 6:37 pm

Trying to unravel some research -How many ounces of gold were worth 12 pounds in 1906 - in Australia ??

Bit too hard for my brain @#%$ Knew I should have worked harder at Maths!
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Post  xenon Sat May 14, 2011 8:02 pm

3oz of gold could be gotten for 12 pounds and you would have about 42 old penny change.

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Post  Imadogman Sat May 14, 2011 9:41 pm

Thanks....hmmmm....two bokes panning for three days to get three ounces...not a bad effort in todays money. Appreciate your help. Maybe I can get to pan three ounces one day!! lol!
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One for the Gold Index Boffins ? Empty 12 pounds of gold in 1906

Post  sdragut Sat Dec 17, 2011 1:39 am

Hi. the ounce of gold was $18,91c for 9 ct so 12 pounds being 187 .7 ounces brings us to about $3,550 at the time.
and if it was 18 ct it woud be double. about $7,100 . This means today that is what only 2 ounces are worth thus the price now is 94 times that price or 9,400 % increase.
Today that would be worth about $350,000. or $700,000 for 18 ct. just a little bit of difference. hey

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Post  xenon Sat Dec 17, 2011 9:53 am

sdragut wrote:Hi. the ounce of gold was $18,91c for 9 ct so 12 pounds being 187 .7 ounces brings us to about $3,550 at the time.
and if it was 18 ct it woud be double. about $7,100 . This means today that is what only 2 ounces are worth thus the price now is 94 times that price or 9,400 % increase.
Today that would be worth about $350,000. or $700,000 for 18 ct. just a little bit of difference. hey

Haha.... The 12 POUNDS I was refering to was "pounds sterling" as Oz use to use "pounds as their currency before it went over to the dollar"..
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