$0.01 in 1776 is equivalent in purchasing power to about $0.30 today, an increase of $0.29 over 245 years. The dollar had an average inflation rate of 1.40% per year between 1776 and today, producing a cumulative price increase of 2,906.69%.

This means that today's prices are 30.07 times higher than average prices since 1776, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 3.33% of what it could buy back then.

The 1776 inflation rate was 12.99%. The current year-over-year inflation rate (2020 to 2021) is now 1.40%^{1}.
If this number holds, the rate of inflation is so negligible that $0.01 today will roughly maintain its value.
The current inflation rate page gives more detail on the latest inflation rates.

Contents

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Cumulative price change | 2,906.69% |

Average inflation rate | 1.40% |

Converted amount ($0.01 base) | $0.30 |

Price difference ($0.01 base) | $0.29 |

CPI in 1776 | 8.700 |

CPI in 2021 | 261.582 |

Inflation in 1776 | 12.99% |

Inflation in 2021 | 1.40% |

$0.01 in 1776 | $0.30 in 2021 |

This chart shows a calculation of buying power equivalence for $0.01 in 1776 (price index tracking began in 1635).

For example, if you started with $0.01, you would need to end with $0.30 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $0.01 is equivalent to $0.30 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1776 dollars, the chart below shows how $0.01 is worth less over 245 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

This conversion table shows various other 1776 amounts in today's dollars, based on the 2,906.69% change in prices:

Initial value | Equivalent value |
---|---|

$1 dollar in 1776 | $30.07 dollars today |

$5 dollars in 1776 | $150.33 dollars today |

$10 dollars in 1776 | $300.67 dollars today |

$50 dollars in 1776 | $1,503.34 dollars today |

$100 dollars in 1776 | $3,006.69 dollars today |

$500 dollars in 1776 | $15,033.45 dollars today |

$1,000 dollars in 1776 | $30,066.90 dollars today |

$5,000 dollars in 1776 | $150,334.48 dollars today |

$10,000 dollars in 1776 | $300,668.97 dollars today |

$50,000 dollars in 1776 | $1,503,344.83 dollars today |

$100,000 dollars in 1776 | $3,006,689.66 dollars today |

$500,000 dollars in 1776 | $15,033,448.28 dollars today |

$1,000,000 dollars in 1776 | $30,066,896.55 dollars today |

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between 1776 and 2021.

Compare these values to the overall average of 1.40% per year:

Category | Avg Inflation (%) | Total Inflation (%) | $0.01 in 1776 → 2021 |
---|---|---|---|

Food and beverages | 3.86 | 1,067,617.52 | 106.77 |

Housing | 4.13 | 2,041,422.23 | 204.15 |

Apparel | 1.93 | 10,787.07 | 1.09 |

Transportation | 3.16 | 202,636.02 | 20.27 |

Medical care | 4.68 | 7,398,990.63 | 739.91 |

Recreation | 1.11 | 1,395.10 | 0.15 |

Education and communication | 1.85 | 8,848.63 | 0.89 |

Other goods and services | 4.92 | 12,777,824.16 | 1,277.79 |

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1776. This table and charts use the earliest available data for each category.

Our calculations use the following inflation rate formula to calculate the change in value between 1776 and today:

CPI today
CPI in 1776

×

1776 USD value

=

Today's value

Then plug in historical CPI values. The U.S. CPI was 8.7 in the year 1776 and 261.582 in 2021:

261.5828.7

×

$0.01

=

$0.01 in 1776 has the same "purchasing power" or "buying power" as $0.30 in 2021.

To get the total inflation rate for the 245 years between 1776 and 2021, we use the following formula:

CPI in 2021 - CPI in 1776CPI in 1776

×

100

=

Plugging in the values to this equation, we get:

261.582 - 8.78.7

×

100

=

Politics and news often influence economic performance. Here's what was happening at the time:

- Austria outlaws interrogation and torture.
- Thomas Paine issues Common Sense, a pamphlet advocating American independence.
- 56 people formally sign the U.S. Declaration of Independence
- The United States Congress officially releases the Declaration of Independence.
- United States of America gets its official name
- British troops capture Fort Washington.

Raw data for these calculations comes from the Bureau of Labor Statistics' Consumer Price Index (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “$0.01 in 1776 → 2021 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 12 Feb. 2021, https://www.officialdata.org/us/inflation/1776?amount=0.01.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

Cumulative price change | 2,906.69% |

Average inflation rate | 1.40% |

Converted amount ($0.01 base) | $0.30 |

Price difference ($0.01 base) | $0.29 |

CPI in 1776 | 8.700 |

CPI in 2021 | 261.582 |

Inflation in 1776 | 12.99% |

Inflation in 2021 | 1.40% |

$0.01 in 1776 | $0.30 in 2021 |