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V21 2018 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 21, Number 24, June 17, 2018, Article 26

WWII CASH HOARD WORTH FACE VALUE AT BEST

Another example of media sensationalism is seen in coverage of the moldy WWII cash hoard discussed last week. -Editor

Brighton cash hoard

There were roughly 30 wads of £5 and £1 notes for a total of £130,000, or over $2 million in today’s U.S. dollars—enough to buy you a New York City two-bedroom condo (with maybe one roommate) or a 18,000-square-foot, six-bedroom home in Fargo, North Dakota.

Projecting face value forward to today is meaningless. That "Wad of World War II Bills Worth Over $2 Million" headline is poppycock. The OPPOSITE is what actually happened - with inflation the notes are worth far LESS in real terms than they were back in the day. Their actual value is based only on the face value of salvageable notes as redeemed by the Bank of England. -Editor

In her A Bank Note Affair Newsletter 89 published June 14, 2018, banknote dealer Pam West writes:

A hoard of £30,000 in old blue £1's and white £5's was found by a builder in Brighton - the Police are looking after it, but, after almost 70 years hidden away the notes have deteriorated somewhat - I spoke live about it with Neil Pringle on BBC Breakfast Sussex radio on Friday 8th June at 7.25am. If sent off to the mutilated bank note department of the Bank of England would, when carefully separated, still be worth face value.

To read the complete article, see:
Found: A Wad of World War II Bills Worth Over $2 Million (https://www.atlasobscura.com/articles/world-war-two-cash-found)

To read the earlier E-Sylum article, see:
WWII CASH HOARD FOUND (http://www.coinbooks.org/v21/esylum_v21n23a23.html)

To visit Pam West's web site, see: http://britishnotes.co.uk/

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Wayne Homren, Editor

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