j.d. in the usa
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- Sep 21, 2003
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here is link to the oldest known coin price book from 1860 in it the NE shilling is $25.00. today we think about that and say only $25.00 I'm there...
but heres the reality heres the math.. in 1860 the ave. skilled worker made .25 a day unskilled workers made .15 a day.
heres the facts:
Typically a worker worked 12-15 hours a day 6 or 7 days a week. Skilled workers made $1.50-2.50 a week; unskilled workers made from $1.00-$1.25 a week. This wage was enough to support a single man, but not a family. To survive, married laborers had to have their wives and children work. Wealth was maldistributed in both the North and the South. By 1860 the top 10 percent of the Northern population held an estimated 68 percent of the total wealth. Nearly 95 percent of the wealth of the nation was held by 30 percent of the population.
ok so it took without spending any money at all except to buy the pine tree shilling 100 days of work for 1 person to buy the coin. for $25.00
today the ave. NE shilling can be bought from $1500-$4500 dollars or more depending on the shape for this argument here im basing it on a $2500.00 one.
the ave skilled us worker today make $95.00 after taxes unskilled ave. is $70.00 a day in wages and thats a consevative number...and only works 8 hours a day 5 days a week...
so if a person only used the money to buy the $2500.00 pine tree shilling it will only take 26 1/3 rd days of work to pay for the shilling.
thats a savings of almost 75% between what it cost in 1860 and todays prices... the same can be said for almost every coin in the 1860 book!!
written by Thomas Richardson
http://www.pcgs.com/research_archive/early_pricelist/index.chtml
but heres the reality heres the math.. in 1860 the ave. skilled worker made .25 a day unskilled workers made .15 a day.
heres the facts:
Typically a worker worked 12-15 hours a day 6 or 7 days a week. Skilled workers made $1.50-2.50 a week; unskilled workers made from $1.00-$1.25 a week. This wage was enough to support a single man, but not a family. To survive, married laborers had to have their wives and children work. Wealth was maldistributed in both the North and the South. By 1860 the top 10 percent of the Northern population held an estimated 68 percent of the total wealth. Nearly 95 percent of the wealth of the nation was held by 30 percent of the population.
ok so it took without spending any money at all except to buy the pine tree shilling 100 days of work for 1 person to buy the coin. for $25.00
today the ave. NE shilling can be bought from $1500-$4500 dollars or more depending on the shape for this argument here im basing it on a $2500.00 one.
the ave skilled us worker today make $95.00 after taxes unskilled ave. is $70.00 a day in wages and thats a consevative number...and only works 8 hours a day 5 days a week...
so if a person only used the money to buy the $2500.00 pine tree shilling it will only take 26 1/3 rd days of work to pay for the shilling.
thats a savings of almost 75% between what it cost in 1860 and todays prices... the same can be said for almost every coin in the 1860 book!!
written by Thomas Richardson
http://www.pcgs.com/research_archive/early_pricelist/index.chtml
