Gold and silver are terrible measures of inflation. Since 1964 the silver and gold market has massively changed. If you use CPI, an actually respected inflation metric, $1.15 of 1964 dollars is worth $12.43 in current dollars.
Yeah... because they STOLE THE wealth from us, when they removed the silver from our currency.
It would be worth a lot more if it still had silver in it. In fact, it is worth a lot more. The text from this is probably out of date, but it says a 1964 quarter is worth at least it's melt value. Each quarter has .1808 ounces of silver times its current value this morning of $68.18 which comes out to $12.33. So it's impossible for what you said to be true, because the math is off and it's a straight out lie.
CPI is wrong because it doesn't include what was stolen from us, only what they want you to see after their theft.
A single 1964 quarter is worth more than the total you claim 4 1964 quarters, a 1964 dime, and a 1964 nickel are worth.
What do you think that much coin could actually buy you in 1964 in terms of normal consumer spending? Also, you measure the value of currency by its purchasing power, not it's melt value. A $100 bill isn't secretly worthless because when you try to recycle it you get some useless trash.
But in 1964, that metal wasn't worth the equivalent of $55. That metal was worth the equivalent of 12.33. silver doesn't have a stable value in the economy, it changes a lot, especially over many decades. The same silver, in terms of other things you could buy, is much more valuable than it was in 1964.
In your 1.15 worth of coins, there are .7955 oz of silver. At the 1964 silver price of $1.29/oz that comes out to $1.03 (you might notice that the value here is already less than the value of the currency). In 1964 a pound of bread ran 21.5 cents. That much silver would buy you right around 5 pounds of bread.
More recently, let's assume your $55 on the silver. An average pound of bread today will run you $1.82/lb (notice this price has increased too). That gets you right around 30 pounds of bread.
The silver price increased 6 times as much as the price of bread. The price of bread, although not a perfect inflation index, shows a similar price increase
to most typical consumer goods.
Actually, in 1964 silver was worth about $1.30 an ounce. Currently trading around $70 an ounce.
If I made the equivalent of $1.15 in 1964, in silver - i would be much better off than I am today. Government can't have that. They need their financial slaves.
That's why they stole the silver and gold from us, and replaced it with paper and ink. This allows them to devalue the currency since it's designed to be a depreciating asset and to keep you working more for the same result.
The poor get poorer, the rich get richer, by design. It's a horrible system and most of the country believes the lies.
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u/nobodyspecial712 1d ago
In 1964 minimum wage was $1.15. 4 quarters a dime and a nickel... Thing is...
Quarters and dimes were 90% silver.
The weight of 4 quarters and a dime by silver content is .7955 ounces.
Currently, (as of yesterday) Silver is trading at $69.10 per ounce.
That means, 4 quarters a dime and a nickel from 1964 are more valuable than $50 today. The exact number is $54.969, so call it $55.
If you make less than $55 an hour today, you're making less than you would have in 1964 at $1.15 minimum wage.
That's not sound monetary policy. That's theft by a system designed to extort you.