Currently, 99.9% pure silver is being bought at £0.53 per gram. A pound weight of silver (454 grams) would therefore fetch £240.62.
So an old silver penny is worth a new British pound.
An 11th century (Edward the Confessor) penny
But the increased efficiency of modern production and distribution has made things cheaper today:
- Petrol (currently c. £1.40 per litre) would, in silver terms, cost 6d/gallon - a third cheaper than in 1896! And that's despite the fact that, these days, 60% of the pump price of petrol is taxes.