Comment on The $20 USD bill is the new 5$ bill

jeffw@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

• HakFoo@lemmy.sdf.org ⁨2⁩ ⁨weeks⁩ 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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• reddig33@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

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

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  • foggy@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

    Are you under the impression that this prevented inflation somehow?

    Spoiler: it didn’t.

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    • BananaIsABerry@lemmy.zip ⁨2⁩ ⁨weeks⁩ ago

      Shhh don’t tell them about what happened after both world wars

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      • jubilationtcornpone@sh.itjust.works ⁨2⁩ ⁨weeks⁩ ago

        Or the time Ulysses Grant ordered the Treasury to flood the gold market - temporarily tanking the US economy - in order to crush his own brother in laws market manipulation scheme.

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  • 667@lemmy.radio ⁨2⁩ ⁨weeks⁩ ago

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

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    • reddig33@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      I’m replying to the “100 years ago” guy talking about halfpence.

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      • 667@lemmy.radio ⁨2⁩ ⁨weeks⁩ ago

        Ahh, fair. I misread that.

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