The last REAL US Dollar

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Last "real" dollar? Phhh. If you take that $1 coin to a store or gas station, you will get exactly the same amount or volume that you would get if you paid with a $1 bill.

Christian

 

The meme is wrong. With a Peace Dollar, until 1965, you COULD have bought all of those things.
Today you can buy those things with it, but you'd have to sell it as bullion for 'fake' dollars in order to do it.

 

The Peace dollar is still legal tender, however anyone that would use it as such would be foolish. The meme demonstrates the "Value" of our last real dollar.

I haven't had any trouble at all finding places that convert silver to cotton or vice versa.

 

Well, since we're nitpicking, the text of the image is worded awkwardly. The Peace dollar wasn't the last US dollar made from 1921 to 1935, it was the only US dollar made from 1921 to 1935.

Also, based on today's dollar buying a half dozen eggs, the purchasing power of a Peace dollar is put at $26, which means silver was close to $34/oz. when this was made.

If you want to look at purchasing power, I'm not sure when gasoline was 17c/gallon, but an equally depressing comparison is that with one of today's dollars, you can almost pay the federal excise tax on 6 gallons of gasoline.

 

In other words, that "cotton" constitutes a "real dollar" whereas that silver constitutes bullion--NOT A DOLLAR.

 

Remember someone put a video on here where he tried to buy a hamburger at a drive-thru and was trying to pay with a one-ounce gold AGE using at the face value of $50? They wouldn't accept it.

 

Let us not forget that during the worst part of the Great Depression that silver got down into the 30 cent range per ounce. Oil was very cheap also, since there was not much demand. Deflation was common with goods prices all the while gold was increased in value by nearly 75% at the stroke of FDR's pen.

The low silver price during the depression may have brought about would could might well be one of the biggest counterfeiting rackets in the country's history - the micro-O counterfeit dollars - since silver was valued very low it was profitable to counterfeit dollars, artificially circulate them and then filter them into commerce. And the fraud was so successful it wasn't discovered until the 1990s and the perpetrators are still unknown.

 

I see things like that and wish for a brief moment that I was the lowly compensed cashier in said restaurant!

 

Thee and mee, brother.

 

Maybe I should try getting 200 half cents, going to the dollar store, and buying something. (We don't have sales tax in Oregon.) Would they accept them?

Or maybe 33 3 cent pieces and a large cent...

 

Everyone longs for the days of gasoline for 17 cents a gallon, milk for 10 cents a gallon, steak for 10 cents a pound, etc., but no one longs for the days of a $7 or $8 weekly paycheck. I wonder why that is.

 

That meme is an apples and oranges comparison.

 

This thread scares me....

 

This meme really points out the fatal flaw of tying a countries money to the value of a metal as opposed to the value of the issuing country. You either have to fix metal rates which no one would accept anymore or you end up with people just wanting the metal and not caring about the actual face value

 

If Dan Carr had overstamped 1922 Peace dollars with 1975 Ike dies in 1964, how many apples and oranges could you have traded for 6 gallons of gasoline before Dan got arrested for trespassing in the Denver mint?

 

Scares me too. This meme is the sort of stuff that precious metals salesmen use to lure their prey, usually into heavy losses.

 

According to google in 1964

The average annual income was about $4,600.
The average new car cost $3,500
The average cost of a new home $20,000.
A gallon of milk was 49 cents
The average cost of a gallon of gas was 30 cents.
A loaf of bread cost 22 cents.

A 1964 half dollar was worth .50 in cotton.
That's 1.66 Gallons of gas

Today that same half dollar is worth $7.11 in cotton.
That's 3.55 Gallons of gas

What increased in value the gasoline, the cotton or the metal?

 

You really can't compare any of those things to today... Technology has changed, which has made manufacturing and drilling more efficient. Supply lines have improved efficiency. Demand for each of those things, both on a local and global scale, has changed each industry in different ways. Governmental regulation has added a significant amount of taxes to each of the things you listed (and not all the same amount. For example, I read a recent study which said that on average, $80k of the price of a new house is due to government regulations, taxes, fees, and permits).

And, inflation happens.

I'm really not sure what the point of your post, or this thread, is. At all.

 

(D) Ignorance