Social Question

ragingloli's avatar

Based on inflation, and the year the expression was first used, what should "giving your 2 cents" be today?

Asked by ragingloli (45106points) 1 month ago

Just my 5 dollars.

Observing members: 0 Composing members: 0

8 Answers

kritiper's avatar

Let me see…
Way back in the early 70’s, I heard that a dollar was really only worth .26 cents. So today .02 cents wouldn’t be worth spit.

rebbel's avatar

Treefiddy

ucme's avatar

Butler’s hourly wage rate.

stanleybmanly's avatar

Whatever you are willing to pay

RedDeerGuy1's avatar

A wooden nickel.

Pinguidchance's avatar

Based on the average inflation rate of 1.4% p.a.since independence and starting from 1787 when the first cent was minted giving two cents worth is a little over $50 today.

https://www.officialdata.org/1776-dollars-in-2018?amount=1

https://en.wikipedia.org/wiki/Fugio_cent

That’s hiya one order of magnitude with fries for ragingloli’s $5.

raum's avatar

I’d imagine the phrase came some time after the penny was first minted.

According to Snopes, it dates back to mid 1920’s. Another site says March 1926.

That comes out to about $0.29 in 2018?

Yellowdog's avatar

@raum is correct—it was never supposed to be more than a minimal contributed amount. Just enough to tip or balance the scale.

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