Sunday 19 May 2013

Barnaby wonders how low will you stoop?

Barnaby has been wondering whether it makes economic sense to pick up coins in the street. Assuming that it takes approximately three seconds to stoop down and retrieve a coin, it would presumably only be worth picking one up if it's value was higher than you could earn in the same amount of time.

For readers in the United Kingdom, where the minimum legal wage for adults is currently £6.19 per hour, or .515p for 3 seconds, it would certainly pay to pick up even the smallest UK coin, which is currently the 1p piece. Indeed, it would make economic sense for anyone earning up to £11.99 per hour, or approximately £24,939 per annum, to do the same.

Coincidentally, this is not far off the average UK earnings for adults in full time employment, which is currently around £26,500 per annum.

As a rule of thumb, therefore, Barnaby suggests that if your wage is above the National Average, you should leave any coins you spot in the street for your less well paid countrymen to pick up.

Unless, of course, you should spot a Liberty Head 1913 5c piece, which sold at auction on April 26th this year for $3.1m.

Unfortunately, in the time it will take you to determine whether the coin you have spotted is a genuine Liberty Head nickel, you might just as well have picked it up anyway.

Alternatively, instead of walking around looking at your feet all day, you could download a copy of one of Barnaby's e-books and read that instead. You'll find plenty to amuse and entertain you at

No comments:

Post a Comment