Post by Silver on May 9, 2022 18:39:28 GMT 1
The lowest price I've come across in an old advertisement is $5.20 US for a 21 piece bucket. And my guess is that this was from about 1969. I haven't considered the 21 piece bucket in a good while, and it may not even be a current offering, but my guess as to it's current price would be about $42 US. By this measure the USA Dollar has lost nearly 88% of it's purchasing power since 1969. And that seems just about right. Our currency left the gold standard and became un-backed fiat in 1971.
Edit: Silver was demonetized in the USA in 1873 when the bi-metal (silver and gold) standard was replaced with a gold only standard. The last vestige of Silver was removed from all USA coins in 1964, leaving them as merely pot-metal. All citizen owned Gold was confiscated by our government starting in about 1932, and about two years later Fort Knox came into being as a place to keep what was originally the peoples gold under government and military guard. A few years after we departed from the gold standard it became legal once again for US Citizens to purchase gold. The gold held in Fort Knox will never be returned to the people.
Edit: Silver was demonetized in the USA in 1873 when the bi-metal (silver and gold) standard was replaced with a gold only standard. The last vestige of Silver was removed from all USA coins in 1964, leaving them as merely pot-metal. All citizen owned Gold was confiscated by our government starting in about 1932, and about two years later Fort Knox came into being as a place to keep what was originally the peoples gold under government and military guard. A few years after we departed from the gold standard it became legal once again for US Citizens to purchase gold. The gold held in Fort Knox will never be returned to the people.
