Two pounds twelve shillings in 1961/62

[Aussie]

Can anyone give a relative value of said sum. For example, what's that in today's money, or what was the basic wage in those years?

[Neferti]

A hell of a lot more than 2 pounds 12 shillings. Try this site http://www.measuringworth.com/auswages/

[mantra]

Can anyone give a relative value of said sum. For example, what's that in today's money, or what was the basic wage in those years?

I've got no idea what the basic wage was then - but a pound was $2 and a shilling was 10 cents - so that would make $5.20. If it was the basic wage - you could probably buy a lot for that.

[Neferti]

Australia went decimal in February 1966. Aussie is looking for value 4-5 years before that.

[Mattus]

A basket of goods and services valued at £2 s12 in year 1961 , would in year 2012 cost $67.13

Assuming average inflation of 5.1 % over 51 years.

http://www.rba.gov.au/calculator/annualPreDecimal.html" onclick="window.open(this.href);return false;

[Neferti]

The link I posted shows:

http://www.measuringworth.com/datasets/ ... result.php

Average weekly earnings in 1961/62 was (in pounds) 18.61 & 18.98

National Minimum Wage (in pounds) 14.40 (both years).

[Aussie]

Thanks ^^^^^ all.

This was sparked off my an old school mate of mine posting on FB that in 1962, he purchased an LP for two pounds twelve shillings, when he was 12. His mob were no better off financially than were mine, and it struck me that he may have been talking shit. It looks like he was.