How is “ye” pronounced in “ye good old days”?

“Ye” in such phrases as “Ye good old days” and “Ye Old Coffee Shoppe” is merely the Anglo-Saxon or Old English method of writing the article “The.” However, “Y” here does not correspond to our letter “Y” but is a representation of the archaic single letter called thorn, which has been replaced by “tb.” The pronunciation of “the” does not change when it is written “ye.” It is correctly pronounced “thee” or “thuh,” exactly like “the.” Frequently it is incorrectly or humorously pronounced “yee” like the old pronoun “ye.”