What was the dollar worth in 1770?

Answer 1

In 1770, the value of the dollar was significantly different from today, primarily due to the different economic conditions and the gold and silver standards of the time. The Continental Congress issued the Continental dollar during the Revolutionary War, which was initially pegged to the value of the Spanish dollar, worth about 1/20 of a troy ounce of silver. However, the Continental dollar depreciated rapidly, leading to its worth being much less than a traditional dollar. Overall, it's estimated that a dollar back then had the purchasing power equivalent to about $30-$35 today, but this can vary based on the specific goods or services considered.