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Wanda
13-02-08, 02:00
Does anyone know where I could find Exchange Rates for the FIM in or around 1901?

I am trying to find out how much 449 FIM would equal in US dollars.

Wanda Johnson

Denise
13-02-08, 04:21
Hi Wanda,
I come up with $75.50 US dollars but that's without a calculator! ;) FIM 5.94573=1 Euro

That was fun!
Denise

P.S. That's the best you'll get from my brain at 10:30 p.m. :D

sune
13-02-08, 07:46
You must take inflation into count. On the site of the Finnish money museum at http://www.rahamuseo.fi/multi_laskuri.html you find a link "rahanarvolaskuri". It give a money value calculator, which has a link for English.

You can put in a amount of money for a certain year and get the value of the amount in another year of our choice as a result.

449 FIM in 1901 it gives 1709,63 euros in 2007. With an exchange rate for the dollar today at about 1,4 dollars to the euro it gives 2393,82 dollars.

Sune

Denise
13-02-08, 12:49
Wow! I was totally wrong! :p :o :p :o :p :o :p How did one come by that much money in those days?


Denise

Wanda
14-02-08, 04:03
Wow is that $2,393.82 US dollars (the cost of a vacation cruse) in 2008 or $239,382. which is about what a small to medium house would cost in the US now?

sune
14-02-08, 13:22
It's 2,393.82 dollars. I forgot that you use dots as decimal markers, not commas like we do.:o

Sune

granskare
15-02-08, 02:56
great page Sune but when I tried a quiz, the thing reverted to Finnish so I must have erred somehow.

Karen Norwillo
15-02-08, 16:55
But what did 449 FIM equate to USD in 1901? I think that's what Wanda was asking, not what it would be today.
If my ancestors had to pay thousands of dollars to get here, I think they'd still be in Finland.

harrysme
15-02-08, 17:11
The value of both a dollar and a mark was a certain amount of gold on those days.

I am not sure, but I think a dollar was worth about 1.5 gr gold and a mark about 0.3 gr gold.

Harry Smeds

Karen Norwillo
15-02-08, 17:13
I found on an online site about Scandinavian emigration on RootsWeb, the average cost of a ticket in 1890 was $20.00. By 1901 it shouldn't have been too much more. I think Denise's first calculation was pretty close.

Wanda
15-02-08, 20:55
I vistied the site Suen mentioned below. It is an amazing math machine that calculates the rate of inflation in Finland. Thank you Suen, this will come in handy in my future family news letters.

I would like to know what 449 FIM was worth in US dollars in 1901.

I know this in not an easy question. I have spent many "internet hours" searching for a conversion table.

Thank you all for the suggestions and help. This is such a friendly informative group of people. I am so greatful for your help.

Wanda

Jaska Sarell
15-02-08, 23:01
Hi!

I found this US purchase power calculator: Measuring Worth (http://www.measuringworth.com/ppowerus/)

As Sune got about $2394 in 2007, the link gives about $95 for 1901.
The magnitude sounds pretty near to the gold value reference by Harry.

:) Jaska

Denise
16-02-08, 02:41
Hi,
I looked up my gg grandmother and her daughter, my great grandmother's passenger record, and in 1910 it was listed in US dollars on the Institute of Migration. Their tickets were $126.00 each. I'm sure it all depended on how glamourous the ship was, whether they were in steerage, etc. I know that my gg grandmother, Aurora Wilhelmina was able to make coffee on the ship with her own coffee pot! :confused:


Detailed passenger information
Last name Palmgren
First names A. Wilhelmina
Age or age group 1N
Port of departure Hanko
Place of destination Crystal Falls
State of destination MI
Country of destination USA
Price of ticket USD 126
Ship from Finland Polaris
Date of departure from Finland 21.09.1910
Ship from England Victorian
Date of departure from England 30.09.1910
Ocean Line Allan Line
Port of departure in England *
List and page 81/61
Remarks Mk Toini Alina Palmgren.


Detailed passenger information
Last name Palmgren
First names Toini Alina
Age or age group 1N
Port of departure Hanko
Place of destination Crystal Falls
State of destination MI
Country of destination USA
Price of ticket USD 126
Ship from Finland Polaris
Date of departure from Finland 21.09.1910
Ship from England Victorian
Date of departure from England 30.09.1910
Ocean Line Allan Line
Port of departure in England *
List and page 81/61
Remarks Mk A. Wilhelmina Palmgren.

Wanda
16-02-08, 20:15
Thank you one and all. I think We have the answer... 449 FIM would have been exchanged for $95. US dollars in 1901 and inflation would make the amount $2,394. in 2007.
Thank you for helping to enrich the Johnson family chronicals.
Wanda