The Incredible Shrinking Dollar

Yesterday, while my wife and I were down in Honolulu, we stopped by one of our favorite shops, Island Stamp and Coin, which not only deals stamps and coins but various Hawaiian antiques. I have known these people for many years and they are the best on the island.

One item caught my eye. Someone had decided to recreate the Morgan Silver Dollar, using just one dollar’s worth of silver at today’s price. The results, as you can see, are staggering.

At left is an original Morgan Silver dollar. At right, scanned at the same time and to the same scale, is the Morgan dollar as it appears using just $1 worth of silver today.

I think this is a great illustration of just how much the dollar has been devalued since the creation of the Federal Reserve. That shrinkage represents a theft of real purchasing power from the people by the Federal Reserve every time them crank up those printing presses to create new notes for themselves and their banker buddies.