One for the Gold Index Boffins ?

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!

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

Regards

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!!

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

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"..