To: Pokey78
makes me think the goldbugs are right.
Since 1865 the dollar has lost so much value that those gold coins went from $2 each at the time they sunk to $750 each today. That means the dollar has lost 99.7% of its value relative to gold since 1865.
9 posted on
08/17/2003 2:48:37 PM PDT by
Ahban
To: Ahban
"That means the dollar has lost 99.7% of its value relative to gold since 1865."
Sounds about right to me.
11 posted on
08/17/2003 2:59:36 PM PDT by
RipSawyer
(Mercy on a pore boy lemme have a dollar bill!)
To: Ahban
Literally de-based.
15 posted on
08/17/2003 3:35:59 PM PDT by
BenLurkin
(Socialism is slavery)
To: Ahban
No, I think they gave bogus figures here. The dollar has lost a lot of its value relative to gold of course - but they were $20 gold pieces afaik, which were worth, well, $20.
Currently, they are worth (bullion that is) around $350 spot. The collector or numismatic premium can't be accounted into the relative inflation rate. Technically, they are worth a bit less than 350 spot since they weigh under an oz. and are 90 per cent gold w/ 10 per cent copper.
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