What is todays value of 1000 crowns in the year 1500 in England?

Answer 1

£20,000

Answer 2

It's actually pretty hard to estimate because economic/financial standards weren't as established as they are today and there were relatively frequent major changes to the system until, perhaps, the early 19th or late 18th centuries.

However, I'll give it a try. 1 crown = 5 shillings and 20 shillings = 1 pound, so 1 crown = 1/4 pound. Thus, 1000 crowns = 250 pounds.

Now, as for the value in today's terms it depends on assumptions about the inflation and bank interest rates.

Let's assume an average inflation of 1% per year since the average inflation rate from 1700 onwards is about 1.3%. Using the simple interest calculation (but using inflation rate) we'd arrive at a value of GBP 1,300 in today's terms but this is likely a gross underestimate of the value.

If we use compounding, then the value would be GBP 44,600 in today's money. This is probably more like it.

Now, if we assume this money was invested in low-risk instruments like government bonds or bank deposits ranging from 3-6% p.a., we'd probably arrive at a value between GBP 1.2 Billion and 3.8 Quadrillion when compounded. Due to various factors involved, I'd say the GBP 1.2 Billion is the better estimate. I know it seems surprising but that's the way compounding works.

Answer 3

Well, honey, in the year 1500 in England, 1000 crowns would be worth about... drum roll please... 1000 crowns! Money doesn't change its value over time, it's not a fine wine. So, your stash of crowns from 1500 would still be worth the same amount today.

Answer 4

This is difficult to answer because the same currency terminology meant different amts in different countries. But, with a lot of internet searching, here is what I was able to come up with. Roughly 1 crown=5 shillings. 2 shillings=1 guilder. 1 guilder=roughly $36 in modern day American dollars. Therefore, 1000 crowns=$90,000 roughly.