$23,950 in 1805 is worth $566,180.05 today

Value of $23,950 from 1805 to 2021

$23,950 in 1805 is equivalent in purchasing power to about $566,180.05 today, an increase of $542,230.05 over 216 years. The dollar had an average inflation rate of 1.48% per year between 1805 and today, producing a cumulative price increase of 2,264.01%.

This means that today's prices are 23.64 times higher than average prices since 1805, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 4.23% of what it could buy back then.

The 1805 inflation rate was -0.85%. The current year-over-year inflation rate (2020 to 2021) is now 6.22%1. If this number holds, $23,950 today will be equivalent in buying power to $25,440.14 next year. The current inflation rate page gives more detail on the latest inflation rates.


Inflation from 1805 to 2021
Cumulative price change 2,264.01%
Average inflation rate 1.48%
Converted amount ($23,950 base) $566,180.05
Price difference ($23,950 base) $542,230.05
CPI in 1805 11.700
CPI in 2021 276.589
Inflation in 1805 -0.85%
Inflation in 2021 6.22%
$23,950 in 1805 $566,180.05 in 2021

USD Inflation since 1635
Annual Rate, the Bureau of Labor Statistics CPI
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Buying power of $23,950 in 1805

This chart shows a calculation of buying power equivalence for $23,950 in 1805 (price index tracking began in 1635).

For example, if you started with $23,950, you would need to end with $566,180.05 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When $23,950 is equivalent to $566,180.05 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 1805 dollars, the chart below shows how $23,950 is worth less over 216 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:

Dollar inflation: 1805-2021
Year Dollar Value Inflation Rate
1805 $23,950.00 -0.85%
1806 $24,973.50 4.27%
1807 $23,745.30 -4.92%
1808 $25,792.31 8.62%
1809 $25,178.21 -2.38%
1810 $25,178.21 0.00%
1811 $26,815.81 6.50%
1812 $27,225.21 1.53%
1813 $32,752.14 20.30%
1814 $36,027.35 10.00%
1815 $31,523.93 -12.50%
1816 $28,862.82 -8.44%
1817 $27,225.21 -5.67%
1818 $25,997.01 -4.51%
1819 $25,997.01 0.00%
1820 $23,950.00 -7.87%
1821 $23,131.20 -3.42%
1822 $23,950.00 3.54%
1823 $21,493.59 -10.26%
1824 $19,855.98 -7.62%
1825 $20,265.38 2.06%
1826 $20,265.38 0.00%
1827 $20,470.09 1.01%
1828 $19,446.58 -5.00%
1829 $19,037.18 -2.11%
1830 $18,832.48 -1.08%
1831 $17,808.97 -5.43%
1832 $17,604.27 -1.15%
1833 $17,194.87 -2.33%
1834 $17,604.27 2.38%
1835 $18,013.68 2.33%
1836 $19,037.18 5.68%
1837 $19,651.28 3.23%
1838 $19,037.18 -3.12%
1839 $19,037.18 0.00%
1840 $17,808.97 -6.45%
1841 $17,808.97 0.00%
1842 $16,785.47 -5.75%
1843 $15,147.86 -9.76%
1844 $15,352.56 1.35%
1845 $15,557.26 1.33%
1846 $15,761.97 1.32%
1847 $16,785.47 6.49%
1848 $16,171.37 -3.66%
1849 $15,761.97 -2.53%
1850 $15,966.67 1.30%
1851 $15,761.97 -1.28%
1852 $15,761.97 0.00%
1853 $15,761.97 0.00%
1854 $17,194.87 9.09%
1855 $17,808.97 3.57%
1856 $17,399.57 -2.30%
1857 $17,808.97 2.35%
1858 $16,785.47 -5.75%
1859 $16,990.17 1.22%
1860 $16,990.17 0.00%
1861 $18,013.68 6.02%
1862 $20,674.79 14.77%
1863 $25,792.31 24.75%
1864 $32,138.03 24.60%
1865 $33,366.24 3.82%
1866 $32,547.44 -2.45%
1867 $30,295.73 -6.92%
1868 $29,067.52 -4.05%
1869 $27,839.32 -4.23%
1870 $26,815.81 -3.68%
1871 $24,973.50 -6.87%
1872 $24,973.50 0.00%
1873 $24,564.10 -1.64%
1874 $23,335.90 -5.00%
1875 $22,517.09 -3.51%
1876 $21,902.99 -2.73%
1877 $21,493.59 -1.87%
1878 $20,470.09 -4.76%
1879 $20,470.09 0.00%
1880 $20,879.49 2.00%
1881 $20,879.49 0.00%
1882 $20,879.49 0.00%
1883 $20,674.79 -0.98%
1884 $20,060.68 -2.97%
1885 $19,855.98 -1.02%
1886 $19,241.88 -3.09%
1887 $19,446.58 1.06%
1888 $19,446.58 0.00%
1889 $18,832.48 -3.16%
1890 $18,627.78 -1.09%
1891 $18,627.78 0.00%
1892 $18,627.78 0.00%
1893 $18,423.08 -1.10%
1894 $17,604.27 -4.44%
1895 $17,194.87 -2.33%
1896 $17,194.87 0.00%
1897 $16,990.17 -1.19%
1898 $16,990.17 0.00%
1899 $16,990.17 0.00%
1900 $17,194.87 1.20%
1901 $17,399.57 1.19%
1902 $17,604.27 1.18%
1903 $18,013.68 2.33%
1904 $18,218.38 1.14%
1905 $18,013.68 -1.12%
1906 $18,423.08 2.27%
1907 $19,241.88 4.44%
1908 $18,832.48 -2.13%
1909 $18,627.78 -1.09%
1910 $19,446.58 4.40%
1911 $19,446.58 0.00%
1912 $19,855.98 2.11%
1913 $20,265.38 2.06%
1914 $20,470.09 1.01%
1915 $20,674.79 1.00%
1916 $22,312.39 7.92%
1917 $26,201.71 17.43%
1918 $30,909.83 17.97%
1919 $35,413.25 14.57%
1920 $40,940.17 15.61%
1921 $36,641.45 -10.50%
1922 $34,389.74 -6.15%
1923 $35,003.85 1.79%
1924 $35,003.85 0.00%
1925 $35,822.65 2.34%
1926 $36,232.05 1.14%
1927 $35,617.95 -1.69%
1928 $35,003.85 -1.72%
1929 $35,003.85 0.00%
1930 $34,185.04 -2.34%
1931 $31,114.53 -8.98%
1932 $28,044.02 -9.87%
1933 $26,611.11 -5.11%
1934 $27,429.91 3.08%
1935 $28,044.02 2.24%
1936 $28,453.42 1.46%
1937 $29,476.92 3.60%
1938 $28,862.82 -2.08%
1939 $28,453.42 -1.42%
1940 $28,658.12 0.72%
1941 $30,091.03 5.00%
1942 $33,366.24 10.88%
1943 $35,413.25 6.13%
1944 $36,027.35 1.73%
1945 $36,846.15 2.27%
1946 $39,916.67 8.33%
1947 $45,648.29 14.36%
1948 $49,332.91 8.07%
1949 $48,718.80 -1.24%
1950 $49,332.91 1.26%
1951 $53,222.22 7.88%
1952 $54,245.73 1.92%
1953 $54,655.13 0.75%
1954 $55,064.53 0.75%
1955 $54,859.83 -0.37%
1956 $55,678.63 1.49%
1957 $57,520.94 3.31%
1958 $59,158.55 2.85%
1959 $59,567.95 0.69%
1960 $60,591.45 1.72%
1961 $61,205.56 1.01%
1962 $61,819.66 1.00%
1963 $62,638.46 1.32%
1964 $63,457.26 1.31%
1965 $64,480.77 1.61%
1966 $66,323.08 2.86%
1967 $68,370.09 3.09%
1968 $71,235.90 4.19%
1969 $75,125.21 5.46%
1970 $79,423.93 5.72%
1971 $82,903.85 4.38%
1972 $85,564.96 3.21%
1973 $90,887.18 6.22%
1974 $100,917.52 11.04%
1975 $110,129.06 9.13%
1976 $116,474.79 5.76%
1977 $124,048.72 6.50%
1978 $133,464.96 7.59%
1979 $148,612.82 11.35%
1980 $168,673.50 13.50%
1981 $186,073.08 10.32%
1982 $197,536.32 6.16%
1983 $203,882.05 3.21%
1984 $212,684.19 4.32%
1985 $220,258.12 3.56%
1986 $224,352.14 1.86%
1987 $232,540.17 3.65%
1988 $242,161.11 4.14%
1989 $253,829.06 4.82%
1990 $267,544.02 5.40%
1991 $278,802.56 4.21%
1992 $287,195.30 3.01%
1993 $295,792.74 2.99%
1994 $303,366.67 2.56%
1995 $311,964.10 2.83%
1996 $321,175.64 2.95%
1997 $328,544.87 2.29%
1998 $333,662.39 1.56%
1999 $341,031.62 2.21%
2000 $352,494.87 3.36%
2001 $362,525.21 2.85%
2002 $368,256.84 1.58%
2003 $376,649.57 2.28%
2004 $386,679.91 2.66%
2005 $399,780.77 3.39%
2006 $412,676.92 3.23%
2007 $424,430.85 2.85%
2008 $440,727.08 3.84%
2009 $439,159.07 -0.36%
2010 $446,362.50 1.64%
2011 $460,452.06 3.16%
2012 $469,980.88 2.07%
2013 $476,864.97 1.46%
2014 $484,600.62 1.62%
2015 $485,175.82 0.12%
2016 $491,296.38 1.26%
2017 $501,762.74 2.13%
2018 $514,269.96 2.49%
2019 $523,333.09 1.76%
2020 $529,789.69 1.23%
2021 $566,180.05 6.87%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 210 more rows

This conversion table shows various other 1805 amounts in today's dollars, based on the 2,264.01% change in prices:

Conversion: 1805 dollars today
Initial value Equivalent value
$1 dollar in 1805 $23.64 dollars today
$5 dollars in 1805 $118.20 dollars today
$10 dollars in 1805 $236.40 dollars today
$50 dollars in 1805 $1,182.00 dollars today
$100 dollars in 1805 $2,364.01 dollars today
$500 dollars in 1805 $11,820.04 dollars today
$1,000 dollars in 1805 $23,640.09 dollars today
$5,000 dollars in 1805 $118,200.43 dollars today
$10,000 dollars in 1805 $236,400.85 dollars today
$50,000 dollars in 1805 $1,182,004.27 dollars today
$100,000 dollars in 1805 $2,364,008.55 dollars today
$500,000 dollars in 1805 $11,820,042.74 dollars today
$1,000,000 dollars in 1805 $23,640,085.47 dollars today

Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £23,950.00 in 1805 would be equivalent to £2,171,216.03 in 2021, an absolute change of £2,147,266.03 and a cumulative change of 8,965.62%.

Compare these numbers to the US's overall absolute change of $542,230.05 and total percent change of 2,264.01%.


Inflation by Spending Category

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 1805 and 2021.

Compare these values to the overall average of 1.48% per year:

Category Avg Inflation (%) Total Inflation (%) $23,950 in 1805 → 2021
Food and beverages 3.89 381,840.08 91,474,648.31
Housing 4.17 677,238.79 162,222,640.12
Apparel 1.96 6,477.98 1,575,426.91
Transportation 3.28 106,106.14 25,436,369.57
Medical care 4.69 1,984,342.25 475,273,919.19
Recreation 1.14 1,060.29 277,889.78
Education and communication 1.84 4,985.63 1,218,009.07
Other goods and services 4.94 3,366,918.51 806,400,933.54

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 1805. This table and charts use the earliest available data for each category.



How to Calculate Inflation Rate for $23,950 since 1805

Our calculations use the following inflation rate formula to calculate the change in value between 1805 and today:

CPI today CPI in 1805
×
1805 USD value
=
Today's value

Then plug in historical CPI values. The U.S. CPI was 11.7 in the year 1805 and 276.589 in 2021:

276.58911.7
×
$23,950
=
$566,180.05

$23,950 in 1805 has the same "purchasing power" or "buying power" as $566,180.05 in 2021.

To get the total inflation rate for the 216 years between 1805 and 2021, we use the following formula:

CPI in 2021 - CPI in 1805CPI in 1805
×
100
=
Cumulative inflation rate (216 years)

Plugging in the values to this equation, we get:

276.589 - 11.711.7
×
100
=
2,264%

News headlines from 1805

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

  • The British navy, led by Admiral Horatio Nelson, defeat the French and Spanish fleet in the Battle of Trafalgar. Admiral Nelson is killed during battle.
  • The American West is crossed for the first time when an expedition, led by Lewis Clark, reaches the Pacific Ocean
  • The Rocky Mountains are seen for the first time by Lewis and Clark on their expedition.

Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (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: “$23,950 in 1805 → 2021 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 29 Nov. 2021, https://www.officialdata.org/us/inflation/1805?amount=23950&endYear=2021.

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


Ian Webster

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1805 to 2021
Cumulative price change 2,264.01%
Average inflation rate 1.48%
Converted amount ($23,950 base) $566,180.05
Price difference ($23,950 base) $542,230.05
CPI in 1805 11.700
CPI in 2021 276.589
Inflation in 1805 -0.85%
Inflation in 2021 6.22%
$23,950 in 1805 $566,180.05 in 2021