PDA

View Full Version : How to Find the Value of $10 in 1934?


Gus_Handsome
09-17-2009, 01:40 AM
I recently bought some old paper money while visiting an antique shop.
I picked up a 1900 Dominion of Canada 25 cent paper note, and a 1934 Ten Dollar Bill, as well as a 1956 Five dollar bill, and 20 uncirculated mint condition 1967 one dollar bills.

Is there a website that will tell me what $10 was worth in today's dollars in 1934?
How much 25 cents would be worth in today's dollars in 1900?

Anyone know of such a site or online calculator?
This old money is extremely fascinating to me, itís like I can feel the history.

Thanks
Gus

emcee2k
09-17-2009, 01:53 AM
$159.19, from the first result on Google for "Inflation Calculator".

http://www.westegg.com/inflation/

UDS
09-17-2009, 03:24 AM
You can answer the question in a couple of ways:

How much would you need to spend today to buy what you could buy for $10 in 1934?

How long would you need to work in 1934 to earn $10? How much would you earn today for working that long?

These two questions will give you different answers. No doubt you could also frame other questions which would yield still other answers.

To move from these theoretical answers to actual ones, you need to find price- and earings-indexes whcih go back to 1900. For a country like Canada they should be readily available. Emcee2kl has linked to an online calculator which is based on a price index but, sadly, a US price index. You obviously need a Canadian one.

LSLGuy
09-17-2009, 10:09 AM
I realize you're interested in Canadian info, but this http://www.bls.gov/bls/inflation.htm is the official US gov't source for inflation info.

I'll suggest Canada has a similar government agency with probably a similar website. I don't know enough about your bureacracy to direct you to it. And you can Google as well as I can.

Gus_Handsome
09-18-2009, 04:26 AM
Thanks for the helpful replies :)

Superhal
09-18-2009, 04:28 AM
Oh, btw, the way you phrased your question could mean that you want to know how much that $10 bill would purchase today, and it's $10.

Hari Seldon
09-18-2009, 06:33 AM
My father got a job in 1937 that paid $18 a week and considered himself quite fortunate. Taking that number from the inflation calculator seriously would suggest that someone might consider himself fortunate today to get a job that pays $275 a week, under $14,000 a year. That is well under the poverty line (I just read that is $22,500 for a family of four) and I cannot imagine that would make many people feel fortunate. That suggests that in terms of income, it might be better to multiply by 30.

Northern Piper
09-18-2009, 07:59 AM
The Bank of Canada (http://www.bank-banque-canada.ca/), Canada's central bank, has an inflation calculator (http://www.bank-banque-canada.ca/en/rates/inflation_calc.html), based on a "basket of goods" approach: how much would a set basket of goods cost at a certain point in time?

Plugging $10 and 1934 into the calculator, the answer is that a basket of goods that would cost $10 in 1934 would cost $159.31 in 2009. $0.25 in 1914 (the farthest back the calculator goes) would buy $4.78 today.

jtgain
09-18-2009, 03:36 PM
I remember watching an Andy Griffith show when Opie fawned over the fact that his dad gave him a nickel. "Wow, Pa! A whole nickel!!!" he shrieked.

I couldn't believe that even then a nickle was that much money. According to the link, it is 35 cents in 2007 money. I can't see today's kids shrieking over 35 cents.

Susanann
09-18-2009, 04:03 PM
Plugging $10 and 1934 into the calculator, the answer is that a basket of goods that would cost $10 in 1934 would cost $159.31 in 2009. $0.25 in 1914 (the farthest back the calculator goes) would buy $4.78 today.

Oh, btw, the way you phrased your question could mean that you want to know how much that $10 bill would purchase today, and it's $10.


On the other hand, a $10 gold coin from the early 1930's, will buy over $500.00 worth of merchandise today.

samclem
09-18-2009, 04:22 PM
On the other hand, a $10 gold coin from the early 1930's, will buy over $500.00 worth of merchandise today. On the other other hand, a $10 share of stock in a typical gold mine stock from the period would buy you bupkis today.

Superhal
09-18-2009, 04:24 PM
On the other hand, a $10 gold coin from the early 1930's, will buy over $500.00 worth of merchandise today.

You'd have to convert the gold though. If, for example, you had some rare misprint dime that is "worth" $1 to a collector, and stuck it in a soda machine, it would still only be worth a dime.