The term “quid” in Peaky Blinders refers to the British pound sterling, which was the currency used in the United Kingdom during the time period that the show is set in. A quid is equivalent to one pound (£1). The show takes place in Birmingham, England beginning in 1919, after the end of World War I, and extends into the 1920s and early 1930s. During this time, the pound sterling was the standard unit of currency used throughout the British Empire. The slang term “quid” derives from the Latin phrase “quid pro quo” which means “something for something.” It became a shorthand way to refer to pound sterling banknotes and coins which represented a tangible monetary value that could be exchanged for goods and services.
The Value of a Quid in the 1920s
In 1919, at the start of Peaky Blinders, one quid or one pound sterling had significant buying power. Prices were relatively low in the 1920s compared to today. To understand the value of a quid in that era, here are some example prices in pounds for common goods and services:
| Item | Cost |
|---|---|
| Loaf of bread | 5 pence |
| Pint of milk | 2 pence |
| Dozen eggs | 1 shilling 3 pence |
| Packet of cigarettes | 3 pence |
| Men’s suit | 30 shillings |
| Woman’s dress | 22 shillings |
| Movie ticket | 2 shillings |
| Gasoline per gallon | 1 shilling 3 pence |
As the table shows, basic food, clothing, and entertainment expenses cost just pennies or shillings per item. One pound went a long way in terms of buying essentials and small luxuries. The average weekly wage for a working man in the 1920s was around £3-£5. So a quid represented nearly a day’s wages for average workers at the time.
The Purchasing Power of a Quid in Peaky Blinders
In the criminal underworld of Peaky Blinders, the characters handle larger amounts of cash than the average person. The Peaky Blinders gang generates income through illegal betting, theft, and extortion. So they have access to quids and pounds in greater quantity than law-abiding citizens of the era.
Still, the buying power of a quid is evident throughout the show as the characters spend their ill-gotten gains. Here are some examples of how quids are used by the Shelbys and others:
– Tommy and Arthur Shelby regularly place bets of 5 or 10 quid on horse races. They can afford these sizable wagers from their bookmaking operation.
– Tommy hands cash out freely to bribe and pay off associates. He tosses one or two quid to policemen, barkeepers, and newsboys to get information.
– The Peaky Blinders purchase fine suits, cars, and homes. Tommy buys himself a large country estate called Arrow House for an unspecified fortune.
– Tommy gives his sister Ada a stack of notes worth 100 quid as a wedding present when she marries communist organizer Freddie Thorne.
– The gang spends quids and five-pound notes freely at the pubs and clubs they frequent. Buying drinks for everyone in the house is common.
– When Tommy wants to impress a woman, he lavishes money on her. He gives expensive jewelry and furs to his mistress Lizzie Stark.
– After becoming an MP and successful businessman, Tommy carries a huge roll of notes in his pocket. He hands out quids and tenners to anyone who asks for money or business financing.
Although the Shelbys have accumulated wealth beyond the average person’s means, a single quid still carries value and spending power. They use cash freely to influence people and get what they want during a time when even a few pounds represented a windfall to working-class people.
Inflation Over Time
To put the buying power of a quid in Peaky Blinders into a modern context, it is useful to account for inflation. The value of money decreases over decades as prices naturally rise due to inflation.
If we adjust for inflation, we can see that one pound sterling in 1919 had the same buying power as approximately £50 today. And a pound in 1930 was worth around £30 currently. This means a typical quid that the characters casually spend, tip, or give away would equate to £30-£50 now.
Looking at the example prices listed earlier, adjusted for inflation:
– A loaf of bread that cost 5 pence then would cost £2.50 now
– A pint of milk that cost 2 pence then would cost £1 now
– A dozen eggs that cost 1 shilling 3 pence then would cost £3.50 now
– A packet of cigarettes that cost 3 pence then would now be £1.50
So while a quid does not seem like a huge amount of money to the characters in Peaky Blinders, it had the equivalent purchasing power of a moderately large modern currency note today.
Conclusion
In the 1920s time period depicted in Peaky Blinders, one British pound sterling or “quid” had substantial value and was considered a generous sum of money. Lower prices before inflation meant a quid could buy a lot – several days’ wages for a working man or many essentials and luxuries. The criminal enterprise of the Peaky Blinders gang gave them access to greater funds, which they spent lavishly bribing officials, buying expensive items, and financing their criminal dealings. While the pound has lost value over the last century due to inflation, understanding its former buying power provides context about the cash transactions and economic standing of characters in the show. The quids used casually by the Shelbys and others represented considerable purchasing power at the time.