Shilling to Earn All World’s Gold (Feb, 1932)

This reminded me of (what I thought) was an episode of Duck Tales where Scrooge McDuck decides to make a ton

Shilling to Earn All World’s Gold

WHEN Dr. Leopold Bauer, noted Vienna architect, recently deposited a shilling in the Bank of England, to be compounded quarterly and paid to his descendants in 1500 years, we wonder if he realized that he was attempting to corner the world’s wealth.

Since the shilling would double itself every eighteen years, in 028 years this trust fund would have earned more money than there now is in the entire world. At the expiration of 1,500 years the total one shilling would have earned would be $1,730,056,670,344,010,144,612,352.00.

Do you think the World war cost, a lot of money? Well, the sum that this one shilling would earn in the designated time would pay for 346,131,334,069 such wars.

7 comments
  1. JMyint says: February 25, 20138:03 am

    The current gold supply would make a cube 19 metres or about 62 feet on a side.

  2. jayessell says: February 25, 201311:28 am

    Who knows what a perfect condition 1932 British shilling would be worth in 3432?

    It’s been 81 years so far.
    To the best of my knowledge the The Bank of England still exists.
    How much is that account worth today?
    How much would that coin be worth today?

  3. jayessell says: February 25, 201311:46 am

    Not a mathlete, but I get:
    9 x 10(15) shillings.
    This assumes 54 doublings in 81 years.

  4. jayessell says: February 25, 201312:03 pm

    DANG!
    Doubles every 18 YEARS!
    So, so far, in 81 years, it’s doubled 4.5 times.
    That’s 22.6 shillings today.
    (The coin may be worth more than that.)

  5. Hirudinea says: February 25, 201312:46 pm

    Oh sure it sounds good, but they get you on the bank fees.

  6. Casandro says: March 2, 201310:52 am

    Well that’s how economists think. In the real world of course, there’s a monetary reform about every 100 years where the old money is exchanged against new money. Typically persons can only exchange a certain amount at a good rate, and the rest at a much worse rate. Often public debt is exchanged at a rate removing much of the debt.
    Last time this was done in Germany, it caused an economic disruption called the “Wirtschaftswunder”. Suddenly stores were full of goods and people were able to afford them. It started a huge economic boom which, more or less, lasted well into the 1980s. The Deutschmark, which was the new currency, was one of the big and stable currencies in the world.

  7. Bill Thompson says: March 5, 20131:28 pm

    If you deposited a Roman siliqua into an Anglo-Saxon bank in 513, your descendants in 2013 would have a heck of a time making the withdrawal. Banks don’t survive national and cultural shifts, nor does currency easily convert. Good idea, except for, well, people.

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