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$100 paper bill in 1928 would equal $9000 in gold today

FrankcoinsFrankcoins Posts: 4,569 ✭✭✭
in Precious Metals
Wow, in 1928 this had the buying power of 5 oz of gold...that's $9000.

Too bad the gov't won't redeem it in gold as promised.



image
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com

Comments

  • gecko109gecko109 Posts: 8,231 ✭
    "Too bad the gov't won't redeem it in gold as promised."




    A clear cut case of government default in my eyes. But thats mere peanuts compared to whats coming down the pipe!
    image
  • stevekstevek Posts: 28,966 ✭✭✭✭✭
    might get to the point whereby the government won't even redeem it for paper...perhaps something of lesser value? LOL
  • bretts911bretts911 Posts: 764 ✭✭✭
    But that note is worth 35k book value in gem cu just fyi :-)
  • vibr0nicvibr0nic Posts: 614 ✭✭✭


    << <i>But that note is worth 35k book value in gem cu just fyi :-) >>



    Or 20 OZT of gold! image
    I like large size currency and silver dollars.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭


    << <i> A clear cut case of government default in my eyes. >>



    Totally agree.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Those gold certificates are just beautiful, they have always been my favorites. Thanks for posting it.
  • johnny9434johnny9434 Posts: 28,307 ✭✭✭✭✭
    nice bill frank. i got a few 20's like that and maybe some day ill get a few 50's and a c note for good measure
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>But that note is worth 35k book value in gem cu just fyi :-) >>



    that's what i was looking for!image
  • hammered54hammered54 Posts: 750 ✭✭✭


    << <i>Wow, in 1928 this had the buying power of 5 oz of gold...that's $9000.

    Too bad the gov't won't redeem it in gold as promised.



    image >>




    they would back then.
    but the question is ..would you want $100.00 worth of gold for it now?
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  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>might get to the point whereby the government won't even redeem it for paper...perhaps something of lesser value? LOL >>



    Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink.
    ~Von Mises
  • BochimanBochiman Posts: 25,377 ✭✭✭✭✭


    << <i>Wow, in 1928 this had the buying power of 5 oz of gold...that's $9000.

    Too bad the gov't won't redeem it in gold as promised.

    >>



    Yeah, right? Not like things change. Things printed at a much earlier time in history should always stay the same and never change, right?
    Sheesh. People that get on the government for things like this make me wonder if I should laugh, or cry.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>"Too bad the gov't won't redeem it in gold as promised."




    A clear cut case of government default in my eyes. But thats mere peanuts compared to whats coming down the pipe!
    image >>




    gold and silver certs stopped being redeemable ages ago.


    the law was changed.
    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • OzzyAndyOzzyAndy Posts: 344
    Any figures that include the interest on that $100? Hardly a fair comparison if interest isn't included.
    Still thinking of what to put in my signature...
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>

    << <i>But that note is worth 35k book value in gem cu just fyi :-) >>



    Or 20 OZT of gold! image >>



    I'd rather have the gold. Getting "book value" may be difficult.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • awillisawillis Posts: 2
    Umm, how about $100 invested in the stock market in 1928, with reinvestment of dividends? A lot more than $9000, even after the last week.
  • coinnerdcoinnerd Posts: 492 ✭✭✭
    Nowhere near a nice to look at. The Fed was sold by making their notes redeemable in gold. Promises promises.

    image
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>but the question is ..would you want $100.00 worth of gold for it now? >>



    Read the bottom of the note---"IN GOLD COIN" which is five double eagles. So, I would answer yes to your question.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>"Too bad the gov't won't redeem it in gold as promised."




    A clear cut case of government default in my eyes. But thats mere peanuts compared to whats coming down the pipe!
    image >>




    gold and silver certs stopped being redeemable ages ago.


    the law was changed. >>











    So if congress enacted a new law tomorrow which stated that all outstanding government debts are null and void, thats not a default because the "law changed"? image
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    So if congress enacted a new law tomorrow which stated that all outstanding government debts are null and void, thats not a default because the "law changed"?

    Exactly correct, Gecko.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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