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How common was it to use a $20 gold piece in everyday life?
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<p>[QUOTE="Conder101, post: 1564227, member: 66"]I often find "inflation calculators" somewhat questionable. I look at it this way, for a large portion of the time from at least the mid 1800's up to the 1940's a dollar or sometimes as much as two dollars a day was the typical wage of the average working man. So $20 represented about 20 days pay. Twenty days pay today would be about one months salary. Government says the average income is around $30K, that makes one months salary between $2K and $2,500. If we assume they made $2 a day back then then it would be two weeks pay today or about $1,000 to $1,250. Or split the difference and make it $1,500 to $1,875. Now I don't know about you but I really don't see a need for a coin that large and if I got paid with one it would almost certainly go straight back to the bank so I would have smaller denominations I could use more readily.[/QUOTE]</p><p><br /></p>
[QUOTE="Conder101, post: 1564227, member: 66"]I often find "inflation calculators" somewhat questionable. I look at it this way, for a large portion of the time from at least the mid 1800's up to the 1940's a dollar or sometimes as much as two dollars a day was the typical wage of the average working man. So $20 represented about 20 days pay. Twenty days pay today would be about one months salary. Government says the average income is around $30K, that makes one months salary between $2K and $2,500. If we assume they made $2 a day back then then it would be two weeks pay today or about $1,000 to $1,250. Or split the difference and make it $1,500 to $1,875. Now I don't know about you but I really don't see a need for a coin that large and if I got paid with one it would almost certainly go straight back to the bank so I would have smaller denominations I could use more readily.[/QUOTE]
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How common was it to use a $20 gold piece in everyday life?
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