Tom Haynes wrote an interesting piece in The Telegraph the other day to mark the 40th birthday of the pound coin. “The pound in your pocket is now worth just 30p”, ran the headline, followed by the subheading: “Some 40 years after the first pound coins were minted, their relevance is waning.” I’ll say!
But the pound has actually lost a lot more than 70% of its value, and the article’s own statistics demonstrate that. “The average house cost £27,386, compared to £290,000 today,” says Haynes. I make that a fall of more than 90%. A first-class
