Even though inflation is a hot topic these days, it’s been around forever. Not all prices rise at the same rate, though, so it’s fun to see what prices were like generations ago.
By looking at prices from way back when, it’s easy to see how the cost of living has changed. Here’s what you could buy with a dollar in the 1920s.
Movie Tickets (For the Whole Family)
In 1920, a movie ticket cost about $0.15, so you could take the whole family — Mom, Dad, and four kids — and still not spend a dollar. You could have seen such classics as “Dr. Jekyll and Mr. Hyde,” “The Phantom of the Opera,” or “The Hunchback of Notre Dame.” The was one thing you wouldn’t get at the movies in the early 1920s, though — sound. The first talking movie, “The Jazz Singer,” came out in 1927.
A Vinyl Record
In 1920, a vinyl record cost about $1. Most people listened to music on the radio at that time, however, since the gramophone required to play that $1 record cost about $30 — too much for many people at the time.
A Restaurant Meal (For Two)
In 1920, you could feed two people at a diner for about $0.70 total, so a slightly higher end meal for two might set you back the entire dollar.
Three Gallons of Gas
In the 1920s, a gallon of gas cost about $0.30, so you could get three gallons for about a dollar. If you drove a Ford Model T, that meant you could drive about 75 miles, since the cars got about 25 miles per gallon. With speed limits at the time capped at 30 miles per hour, you could have a nice two-and-a-half-hour Sunday drive for a dollar.
Groceries
In the 1920s, you’d pay about $0.39 per pound for chicken at the market, so your dollar would get you about two and a half pounds. Round steak was about the same price, at $0.40 per pound.
Ham was slightly cheaper, at $0.25 per pound, so your dollar would get you four pounds. If you opted for fish, fancy lake trout was about $0.22 per pound, so you’d get nearly five pounds for that same dollar.
Your dollar would get you two pounds of coffee, at $0.47 per pound, or two dozen eggs at $0.47 a dozen. Bread was $0.12 for a one-pound loaf, so you could get eight loaves of bread for a dollar. Butter to put on your bread would cost about $0.70 a pound.
Clothes
In the 1920s, you could buy a pair of pajamas for $1.00, and a woman’s skirt for just a little bit more – between $1.20 and $1.75. You could have two men’s suits pressed for $1.00.
While these prices seem ridiculously low today, the cost of many household items dropped at the end of the 1920s and into the 1930s as the country fell into the Great Depression. And in the 1940s, as the world entered World War II, there were some items you couldn’t buy at all, regardless of the price. They just weren’t available.
Of course, wages have gone up as well since the 1920s, making some of these items as affordable now as they were then. And as inflation continues to drive prices higher still, as long as wages keep pace, consumers will be able to still afford them.
Written by Karen Doyle for Go Banking ~ May 5, 2024
About admin
Please allow me to introduce myself; I am Jeffrey Bennett, President of Kettle Moraine, Ltd., the parent of Sierra Madre Precious Metals.
I have been married for 53 years with two children and four grand-children, a veteran of Viet Nam, student of history (both American and film), and was host for fifteen years of Perspectives on America on the alternative airwaves, covering such subjects as, health and wellness, news, political satire, education and editorial commentary on current events through the teaching of history, and Protecting Your Wealth. In early 2018, I took a several month hiatus to complete some family business but returned to airwaves April 17, 2018).
At the age of ten, I sat in a bank-vault in the Citizens Bank of Mukwanago, Wisconsin with my grandfather going through bags of old American Peace dollars, hand-selecting each coin as dated rolls of 20 coins were carefully put together and rolled. Learning of the history of these beautiful pieces of Americana, I asked my grand-father, "Why are we doing this?" to which he replied, "Because someday they are going to do the same thing with the silver in our money that, that (S.O.B.) Roosevelt did with gold in 1933." It took only six-years for his prediction to come to pass at the hands of a disciple of Roosevelt's... and what will a Federal Reserve 'dollar' purchase today - and what will that old 90% Silver Peace Dollar purchase?
Although at the age of ten, there was little understanding of the meaning of it all, over the next half-century I became well-versed on the subject matter. During this summer of my education, I began to purchase silver coins as a collector and some small, international gold coins two years later - not an easy feat in the shadow of the Roosevelt confiscatory policies of 1933. Although those policies remained in effect until the mid-1970's, it was not until 1991 that I found that one could make a living providing precious metals and collectible, historic numismatic coins to a willing and concerned clientele.
It was also during that year, that I began a relationship with one of the first Trust companies to give the public access to gold and silver as part of an Individual Retirement Account (IRA) - and Kettle Moraine, Ltd., founded in 1995, but have ceased providing service due the the intense change-over of the provider.
In November 2011, after a 15 month broadcast on another network, I returned to the airwaves with my then revamped program, Life, Liberty & All That Jazz, and for over 28 years, I have been proud to serve the family of listeners of my numerous broadcast programs for physically-held precious metals for investors and collectors alike. On March 23, 2020 I launched my brand new - appropriately named program, The Edge of Darkness on the Republic Broadcasting Network, and thus continue to remain available to our long time clients and their families. Ah yes - find out what "inter-generational" wealth provision has done for our clients over the past three decades.
Don't buy the sizzle of that steak until you understand the cost! In other words, don't buy the bull being dispensed by the 'rare coin' pitchmen until you understand the full story. We, at Sierra Madre Precious Metals, will be proud to serve your needs.
