Talk:Massachusetts pound

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File:US-Colonial (MA-87.15)-Massachusetts-1 May 1741 OBV.jpg to appear as POTD soon

Hello! This is a note to let the editors of this article know that File:US-Colonial (MA-87.15)-Massachusetts-1 May 1741 OBV.jpg will be appearing as picture of the day on April 22, 2016. You can view and edit the POTD blurb at Template:POTD/2016-04-22. If this article needs any attention or maintenance, it would be preferable if that could be done before its appearance on the Main Page. — Chris Woodrich (talk) 00:00, 5 April 2016 (UTC)[reply]

Picture of the day

A banknote for two Massachusetts shillings, or 1/10 of a Massachusetts pound, dated 1 May 1741. Massachusetts was the first of the Thirteen Colonies to have its own currency, authorizing the issuance of paper money in 1690; South Carolina would follow with its own pound in 1703. The pound saw heavy inflation and, in 1749, Massachusetts withdrew its paper money from circulation and returned to specie.Banknote: Province of Massachusetts Bay; image courtesy of the National Numismatic Collection at the Smithsonian Institution

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This article contradicts itself

The introduction implies that Massachusetts did not use paper money between 1749 and 1775. However according to the "Paper money" section Massachusetts produced a "Colonial" issue in 1759. 108.49.90.89 (talk) 16:50, 15 December 2017 (UTC)[reply]

Value in USD today

What is the conversion rate when redeeming a Massachusetts pound in today's USD? mdkarazim (talk) 19:00, 17 November 2019 (UTC)[reply]

In 1770, the market exchange rate between £ Sterling and Mass. £ was 1.25, i.e. one pound sterling was worth 1.25 pound Massachusetts Lawful Money. (McCusker, John J. (1978). Money and Exchange in Europe and America, 1600-1775. The Macmillan Press).

Hence, one pound Massachusetts was the same as 16 shillings Sterling according to the the market exchange rate.

If you want to compare the value of a 16 shilling sterling income or wealth in 1770 there are three choices (Measuring Worth). In 2019 the relative:

real wage or real wealth value of that income or wealth was £111.70
labour earnings of that income or wealth was £1,432.00
income value of that income or wealth was £1,747.00

The average exchange rate of British pounds to US dollar for 2019 was 1.28 (Pound Dollar Exchange Rate (GBP USD) - Historical Chart).

Hence in 1770:

100 pound Massachusetts Lawful Money could buy as much stuff as USD 14,297.60 in 2019 (as long as you buy stuff that was available in 1770).
the relative income of a person paid 100 pound Massachusetts Lawful Money per year can be compared to the relative income of a person paid USD 183,296.00 per year in 2019.
the economic status of a person earning 100 pounds Massachusetts Lawful Money per year can be compared to the economic status of a person earning USD 223,616.00 per year in 2019.

Creuzbourg (talk) 19:01, 28 September 2020 (UTC)[reply]