1850

"You see, grandfather scratched the Scott mills to life with nothing much but his bare hands."
--Paul Scott (Valley of Decision)

In 1850 the US was in the midst of a productivity-led expansion. The country's population had more than quadrupled since the turn of the century. Innovations were driving spectacular increases in productivity. Agricultural output more than doubled from 1840 to 1860 while the value of manufacturing and mining industries nearly tripled during this period.

1850 $20 PCGS XF40 CAC

A bottle of port cost about 10 cents while a pound of coffee cost about 80 cents. Pianos could be purchased for less than $200 and a routine doctor's visit cost $2. A new home in Brooklyn cost $2,500.

With a sound money and improving productivity backdrop, prices would generally remain stable or decline during the second half of the 19th century.