Prices have inflated so much over the past 10 years that a $20 bill buys as much as $5 did back then.

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[–] 6 points 7 months ago* (8 children)

Ye olde halfpence is now a nickel!

definitely someone a few hundred years ago

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  • [–] 4 points 7 months ago

    During thr gold-standard era, 1GBP was around 5USD, but a halfpenny was 1/480 of a pound, so a little more than a cent. The large-format cents issued up to 1857 were similar in size to the halfpennies of the late 1700s.

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  • [–] -1 points 7 months ago* (last edited 7 months ago) (6 children)

    Doubtful, considering money back then was pinned to something like gold or silver.

    Some excellent points in the replies. I withdraw my statement!

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  • [–] 7 points 7 months ago (2 children)

    Are you under the impression that this prevented inflation somehow?

    Spoiler: it didn't.

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  • [–] 2 points 7 months ago* (last edited 7 months ago) (2 children)

    The US went off the gold standard in 1971 and OP is talking about 10 years ago, so 2016.

    Disregard. The commenter is referring to the 100 or so years ago.

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