Goofyhobbie
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Back in 1965 $20.00 would have purchased: 64.5 gallons of gasoline @ the average price of 31 cents a gallon OR 21 gallons of milk at 95 cents a gallon.
Source: 1960s Flashback.com
Today $20.00 in paper money would buy almost 5 gallons of gas at an average price of $4.014 per gallon OR 5 gallons and at least 1 quart of Milk at an average cost of about $3.50 per gallon.
Having said that, what exactly $20.00 in cash will buy depends on what exactly you have in mind and what exactly you have in U. S. Currency that amounts to $20.00 at the time of purchase.
Now for the Rest of the Story!
Back in January 1965 while working as a cashier at a local grocery store, I got my hands on 40 Kennedy Half Dollars with the new mint date of 1964.
To acquire those 40 coins I used exactly 20 greenback paper dollars.
Flash forward to today. As of this afternoon I still had the 40 coins which are still worth $20.00 if I were to choose to take them to my local bank and cash them in.
However, today the spot price for silver fell a little and I decided now was a good time to convert the 40 coins to something that might actually acquire more goods than the same 40 coins would have purchased in January, 1965.
Believe it or not I could buy roughly 120 gallons of gasoline with the proceeds from those 40 coins OR 137 gallons of milk with the same proceeds.
Did I get a good deal? Maybe!
To sell the coins on e-bay would have required some transaction costs, as well as insurance and shipping cost; but chances are reasonably good that I would have netted somewhere between $450 and $500.
To hire a smelter to extract the silver from the coins and create a silver bar that weighed less than 14.5 Troy ounces would have cost whatever. But, at least in the end I would have had a roughly 14.5 troy ounce silver bar worth roughly $564.00 based on the spot price of silver today.
As it turned out I decided to forgo the hassle of dealing with a smelter or e-bay and decided to convert the 40 coins into 480 greenbacks which now will buy the aformentioned 120 gallons of gas or the 137 gallons of milk.
In the end I think I got a pretty good deal; however, if I trully want to get 120 gallons of gas out of those 40 coins, I had better hurry because who knows what the price of a gallon of that suff will cost me tomorrow or next week. :hysterical:
Source: 1960s Flashback.com
Today $20.00 in paper money would buy almost 5 gallons of gas at an average price of $4.014 per gallon OR 5 gallons and at least 1 quart of Milk at an average cost of about $3.50 per gallon.
Having said that, what exactly $20.00 in cash will buy depends on what exactly you have in mind and what exactly you have in U. S. Currency that amounts to $20.00 at the time of purchase.
Now for the Rest of the Story!
Back in January 1965 while working as a cashier at a local grocery store, I got my hands on 40 Kennedy Half Dollars with the new mint date of 1964.
To acquire those 40 coins I used exactly 20 greenback paper dollars.
Flash forward to today. As of this afternoon I still had the 40 coins which are still worth $20.00 if I were to choose to take them to my local bank and cash them in.
However, today the spot price for silver fell a little and I decided now was a good time to convert the 40 coins to something that might actually acquire more goods than the same 40 coins would have purchased in January, 1965.
Believe it or not I could buy roughly 120 gallons of gasoline with the proceeds from those 40 coins OR 137 gallons of milk with the same proceeds.
Did I get a good deal? Maybe!
To sell the coins on e-bay would have required some transaction costs, as well as insurance and shipping cost; but chances are reasonably good that I would have netted somewhere between $450 and $500.
To hire a smelter to extract the silver from the coins and create a silver bar that weighed less than 14.5 Troy ounces would have cost whatever. But, at least in the end I would have had a roughly 14.5 troy ounce silver bar worth roughly $564.00 based on the spot price of silver today.
As it turned out I decided to forgo the hassle of dealing with a smelter or e-bay and decided to convert the 40 coins into 480 greenbacks which now will buy the aformentioned 120 gallons of gas or the 137 gallons of milk.
In the end I think I got a pretty good deal; however, if I trully want to get 120 gallons of gas out of those 40 coins, I had better hurry because who knows what the price of a gallon of that suff will cost me tomorrow or next week. :hysterical:
