Why are old prize bonds winning so 'uncommon'

C

coldcake

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http://www.independent.ie/national-news/1981-prize-bond-ticket-scoops-euro1m-for-punter-2279900.html

'The prize bond company said yesterday that old tickets were uncommon but did pop up from time to time'.

I would have thought that there are loads of old prize bonds out there as due to inflation it would be better to hold on to them rather than cash them in as the years pass. I know relations who have held theirs since the 70's. Is it just that there have been more sold over latter years and hence odds of old ones winning diminishes?
 
Probably, but I see in the Times this weeken a 29 yr old bond has won 1 million in Kilkenny
 
The value is old bonds in always going down because of inflation.

£5 of prize bonds was a decent investment in 1950 , but only one prize bond today.
 
For some years now, the minimum purchase has been 4 bonds, which might skew the total number of bonds in the draw towards the newer ones?
 
So based on this, would one be better off cashing in there old bonds and buying new ones?

Bedlam
 
No , because the old ones have lost value due to inflation.


That's the trade off with prize bond , free draw every month , but always loosing value.
 
Yes, all savings, including prize bonds,get inflated away.

At a guess, 5 pounds may have been a weeks wages in 1960... 10 pounds was probably a weeks wages in 1970, and you could purchase 2 prize bonds for 10 pounds. Now, in 2010, a weeks wages may by 500 Euro, which would get you 80 prize bonds @ 4 pbs for 25 Euro


If any winnings from the prize bond had been used to purchase more prize bonds then it wouldn't seem so bad today... this is similar to 5 pounds lodged to a bank account in 1970 which would also be vitually worthless today, even if it was a few days wages when lodged
 
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