A 1972 Ford Mustang
A new Mustang Hardtop cost about $2,700 in 1972. That amount in gold then could be worth over $250,000 today.
Golden Stories: A Look Back in Time
A New House in 1970
The median price for a new home in 1970 was around $23,400. That investment in gold could now be valued at nearly $1,000,000.
A new TV Set in 1989
A brand new TV set bought in 1989 would cost aroud $250. If you'd bought gold instead, you'd have over $1,300 today.
A 1972 Volkswagen Beetle
A brand new "Bug" cost around $1,280 in 1972. Investing that money in gold would yield over $130,000 today.
A Nintendo NES Console (1985)
The iconic Nintendo Entertainment System launched for about $199. That money in gold would be worth over $1,200 today.
A First-Generation iPhone (2007)
The revolutionary device that changed the world cost $599 at launch. If you had bought gold instead, you'd have over $2,000 today.
The Best Selling Computer Operating System (1998)
Windows 98 was selling at 95$ when it was sold in numbers more than Michael Jackson's Thriller album. If you had bought gold with that amount, you'd have kept over$1,100 today.
The ’95 Home PC in Ounces
An average personal computer in late-1995 cost about $1,500. Those dollars invested in gold would be worth about $14,000 today. (The fun surely worth much more!)
Ever wonder about the true long-term value of things? Instantly compare a past purchase against gold. Enter an amount and date; we’ll compute how many troy ounces that money could buy then, and what those ounces are worth today.
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Facts About Gold Price History
- The Gold Standard Era: For much of modern history, currencies were backed by gold at a fixed price. In the U.S., the price was fixed at $35 per troy ounce from 1934 until 1971.
- The Turning Point of 1971: The most significant event in gold's modern history occurred when U.S. President Nixon ended the direct convertibility of the U.S. dollar to gold. This de-pegging allowed gold's price to float freely on the open market, causing its value to climb dramatically over the following decades.
- A Safe Haven Asset: Gold is often considered a "safe haven" investment. During times of economic uncertainty, high inflation, or geopolitical instability, investors often flock to gold, which can drive up its price.
- Inflation Hedge: While not guaranteed, gold has historically held its value against inflation over the very long term. This calculator demonstrates that principle by showing how the purchasing power of money invested in gold has often outpaced that of money spent on depreciating goods.
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