On January 1, 1831, The Liberator, the country’s first abolitionist newspaper and, later, a defender of women’s suffrage, appeared in Massachusetts. At that time, Georgia slavers offered a reward of $5,000 (more than $160,000 in 2024 value) for the capture of its founder, William Lloyd Garrison.
In fact, $5,000 in 1831 would have been worth well over half a million dollars in today's money.
American $10 half-ounce gold coins date to at least 1795 and prior to 1834 actually contained a bit MORE than a half-ounce of gold:
The weight of circulating, standard gold, $10 eagles was set at 270 grains (17 g), half eagles at 135 grains (8.7 g), quarter eagles at 67.5 grains (4.37 g). This resulted in the $10 eagle containing 0.5156 troy ounces (16.04 g) of pure gold.
Even taking a value of just $20/oz would mean that $5,000 = 250 oz of gold, and at today's gold price (hovering around $2300 as I write this), 250 oz x $2300/oz = $575,000.
The Fed has stolen more from us than almost anyone realizes.
Interesting economic detail:
In fact, $5,000 in 1831 would have been worth well over half a million dollars in today's money.
American $10 half-ounce gold coins date to at least 1795 and prior to 1834 actually contained a bit MORE than a half-ounce of gold:
Even taking a value of just $20/oz would mean that $5,000 = 250 oz of gold, and at today's gold price (hovering around $2300 as I write this), 250 oz x $2300/oz = $575,000.
The Fed has stolen more from us than almost anyone realizes.
...valid observations...