What is the equivalent of one pence in the Elizabethan era to money today?

Question

I am trying to find out what 5 pence would be in $.

10 Points to whoever can tell me the answer quickest and noting their source so I can check it

Answer 1

One Elizabethan Penny would be the equivalent of one two hundred and fourtieth of a pound in todays money or £0.0041666 which in dollars is $0.0082014. Five Elizabethan pence would be worth just over 2 cents. (2.08333)

In 'old' money there were 12 pence (pennies) in a shilling and 20 shillings in a pound - i.e. 240 pence in a pound.

http://www.bignell.uk.com/english_currency.htm
http://mwprices.ft.com/custom/ft2-com/html-currency.asp?

Answer 2

I doubt there is any exact conversion available since the dollar did not exist then but using equivalent buying power, if 5 pence got you a standing room admission to the Globe theatre to see a Shakespeare production, then today's cost would be in the neighbourhood of $35.

Answer 3

We ARE in the Elizabethan era! Our queen is Elizabeth II. And 5p is worth about 10 cents.