The CoinNews Inflation Calculator and annual Rate of Inflation Charts have been updated with the latest CPI (Consumer Price Index) figures.
The official CPI data, provided by the U.S. Department of Labor Bureau of Labor Statistics, enables the Inflation Calculator to measure the change in buying power of the U.S. dollar using any combination of years from 1913-2008.
Examples of the Inflation Calculator
Using the calculator, anyone can determine the purchasing power of the dollar over time. A few examples after adjusting for inflation:
- An item purchased in 1980 for $10 would have cost $20.90 in the year 2000
- An item purchased in 1913 for $20 would now cost $426.42
- An item purchased for $1 in 1985 would now cost $1.96
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Sacagawea coins will see the light of day in 2008. It is all in thanks to new legislation that was introduced Monday, passed in the House and Senate on Thursday and signed into law by President Bush on Friday. The law amends old and gives the United States Mint the authority to mint and issue 2008 Sacagawea Golden Dollars.
The reason the Mint stopped in issuing them is a story with several twists and turns …
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The Royal Australian Mint kicked off the introduction of a new circulating one dollar coin and a series of new collector coins with a gigantic and symbolic coin commemorating the Centenary of Scouts Australia.
The model coin was the largest ever produced by the Mint at an impressive 400 times the size of the normal one dollar circulating coin.
Its unveiling appropriately took place in front of a group of children and young adults who represented various scouting groups across Australia.
Senator the Hon Nick Sherry, Minister for Superannuation and Corporate Law, made several comments at the ceremony.
“Scouts Australia was founded 100 years ago. We all know just how big a part of our culture the Scouts have become since then, with over 60,000 scouts spread across the country.
“Launching this coin is a perfect way for everyone in Australia to remember the achievements and contributions of the scout movement founded by Lord Baden Powell over the past century. The Government is very happy to recognise this incredible contribution and has declared 2008 the Year of the Scout.”
“Today, this giant coin is symbolic of the equally giant contribution that Scouts have made to Australia …"
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The James Monroe Individual Proof $1 Coin is now available through the United States Mint. James Monroe was the fifth President of the United States and the special individual proof coins honoring him are priced at $5.95 each.
Unfortunately, the $4.95 standard shipping and handling charge makes the purchase harder to consider unless ordering them in quantity or with additional Mint products. There is a 5 order limit for the individual proof coin.
Monroe Presidential $1 Coins first entered circulation on February 14, 2008. It was the first Presidential Dollar for 2008 and the fifth since the series began in 2007.
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Silver is fast approaching $20 an ounce and crossed over a 27 year high this week. Signs would seem to indicate there is a solid chance of it reaching over the $20 barrier and perhaps very soon. As of this writing 11:45 a.m. (ET), New York spot silver is at $19.67 an ounce.
For coin collectors, silver could be the biggest news. The metal is so easily associated with many collectible coins and not so distant past circulating coins. It is "easier" to see precious metal price change impacts.
A couple cases in point for circulating coins using the CoinNews Silver Coin Calculator and the $19.67 spot price:
- 10 War Nickels from 1945 with a face value of $.50 have $11.07 in silver content
- 10 Roosevelt Dimes from 1964 with a face value of $1.00 have $14.23 in silver content
- 10 Kennedy Half Dollars from 1970 with a face value of $5.00 have $29.09 in silver content
- And finally, 10 Ike Dollars from 1976 with a face value of $10.00 have $62.18 in silver content
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Settlement from Francisco v. NGC Will Support Education
The American Numismatic Association has received a $447,095 donation to support educational programs and produce a much-needed consumer awareness booklet with helpful information on coin collecting.
The donation is from the settlement of a class action lawsuit, Francisco v. Numismatic Guaranty Corporation, concerning First Strikes designation. While admitting no wrongdoing or liability, NGC settled the case and discontinued the use of First Strikes, believing that controversy from the lawsuit would not be in the best interests of the hobby.
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The United States Mint 2008 Oklahoma Official First Day Covers went on sale Wednesday, February 27. These limited edition covers include two Oklahoma state quarters with the “Scissortail Flycatcher” design that were minted on the first day of production. One quarter is from the Mint’s Denver facility while the other is from its Philadelphia location.
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A new House bill is on the legislative table that would honor Ronald Reagan on the anniversary of his 100th birthday. Reagan was born February 6, 1911 and was the 40th President of the United States from 1981-1989.
The bill, H.R. 5235 and titled ‘Ronald Reagan Centennial Commission Act‘, was written to create a 11 member commission with the main duties of planning, developing and carrying out activities that would honor Reagan’s birthday anniversary in 2011.
There are no firm plans set out in the proposed legislation. That would be up to the commissioners. However, it is interesting to note the specific clause for a new commemorative $1 coin.
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During the recent examination and certification of recovered money from the famous 1971 "D. B. Cooper" skyjacking case, PCGS Currency staff members discovered nearly three dozen serial numbers that apparently had not been previously recorded by the Federal Bureau of Investigation.
The numbers were hidden in layers of notes and note fragments stuck together for decades, and those numbers now have been reported by PCGS Currency President, Jason Bradford, to the Seattle-based FBI agent overseeing the case.
In a letter to FBI Special Agent Larry Carr, Bradford wrote: "Earlier this month, members of our team examined two dozen environmentally-damaged $20 denomination Federal Reserve Notes and dozens of fragments submitted to us for certification by Brian Ingram of Mena, Arkansas. As you know, Mr. Ingram was the then-eight year old boy in 1980 who discovered some of the cash given in 1971 as ransom to a skyjacker known as ‘D. B. Cooper’ or ‘Dan Cooper.’"
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A blazing fast turnaround is not what you expect from the government, but that is exactly what the District of Columbia received.
D.C. city officials forwarded three commemorative quarter design proposals on Monday and on Wednesday, less than two full days later, the U.S. Mint promptly rejected them.
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