Hey Dug! Your post got me curious so I looked into the actual value shift of your home over time: in 1955 1 British Pound was worth $2.80 US, as we all know at the time Gold was pegged to the dollar at $35/oz so gold was £12.50/oz.
Today, Gold is exchanged at £2340.48/oz.
£2340.48 / £12.50 = 187.24
100(%) / 187.24 = 0.534(%)
So the British Pound has lost 99.466% of it's value against gold over 70 years, or an approximate average of 7.2% a year (0.928^70 = 0.00535 (0.535%) value remaining).
Since you said you received an offer for just over 100x the 1955 purchase price, we can find it's current value lost over time.
£1635/£12.50 = 130.8 oz of Gold.
£1635 * 100 = £163,500 approximate current valuation.
£163,500 / £2340.48 = 69.86 oz of gold.
69.86 / 130.8 = 0.534 (53.4%)
So after 70 years your home can be exchanged for only 53.4% of the gold originally used to pay for it. Revealing a true loss of value of 46.6% over the last 70 years, or about 0.0089% lost against gold every year (0.9911^70 = 0.5348). 🖖🙂
TheBitcoinBattery
npub1kl…fq497
2025-03-23 14:23:54
in reply to nevent1q…fpk2
Author Public Key
npub1kl8aguhljq6yrmrv64dm2phew3pprfhx3ef9yh2zg3gkn0dq8adqzfq497Published at
2025-03-23 14:23:54Event JSON
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"content": "Hey Dug! Your post got me curious so I looked into the actual value shift of your home over time: in 1955 1 British Pound was worth $2.80 US, as we all know at the time Gold was pegged to the dollar at $35/oz so gold was £12.50/oz.\n\nToday, Gold is exchanged at £2340.48/oz.\n\n£2340.48 / £12.50 = 187.24\n\n100(%) / 187.24 = 0.534(%)\n\nSo the British Pound has lost 99.466% of it's value against gold over 70 years, or an approximate average of 7.2% a year (0.928^70 = 0.00535 (0.535%) value remaining). \n\nSince you said you received an offer for just over 100x the 1955 purchase price, we can find it's current value lost over time. \n\n£1635/£12.50 = 130.8 oz of Gold.\n\n£1635 * 100 = £163,500 approximate current valuation.\n\n£163,500 / £2340.48 = 69.86 oz of gold. \n\n69.86 / 130.8 = 0.534 (53.4%)\n\nSo after 70 years your home can be exchanged for only 53.4% of the gold originally used to pay for it. Revealing a true loss of value of 46.6% over the last 70 years, or about 0.0089% lost against gold every year (0.9911^70 = 0.5348). 🖖🙂",
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