# \$58,000,000 in 1830 is worth \$1,513,087,608.70 in 2016

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## Value of \$58,000,000 from 1830 to 2016

\$58,000,000 in 1830 is equivalent in purchasing power to about \$1,513,087,608.70 in 2016, an increase of \$1,455,087,608.70 over 186 years. The dollar had an average inflation rate of 1.77% per year between 1830 and 2016, producing a cumulative price increase of 2,508.77%.

This means that prices in 2016 are 26.09 times higher than average prices since 1830, according to the Bureau of Labor Statistics consumer price index.

The 1830 inflation rate was -1.08%. The inflation rate in 2016 was 1.26%. The 2016 inflation rate is lower compared to the average inflation rate of 2.88% per year between 2016 and 2021.

 Cumulative price change 2,508.77% Average inflation rate 1.77% Converted amount (\$58,000,000 base) \$1,513,087,608.70 Price difference (\$58,000,000 base) \$1,455,087,608.70 CPI in 1830 9.200 CPI in 2016 240.007 Inflation in 1830 -1.08% Inflation in 2016 1.26% \$58,000,000 in 1830 \$1,513,087,608.70 in 2016

USD Inflation since 1635
Annual Rate, the Bureau of Labor Statistics CPI

## Buying power of \$58,000,000 in 1830

This chart shows a calculation of buying power equivalence for \$58,000,000 in 1830 (price index tracking began in 1635).

For example, if you started with \$58,000,000, you would need to end with \$1,513,087,608.70 in order to "adjust" for inflation (sometimes refered to as "beating inflation").

When \$58,000,000 is equivalent to \$1,513,087,608.70 over time, that means that the "real value" of a single U.S. dollar decreases over time. In other words, a dollar will pay for fewer items at the store.

This effect explains how inflation erodes the value of a dollar over time. By calculating the value in 1830 dollars, the chart below shows how \$58,000,000 is worth less over 186 years.

According to the Bureau of Labor Statistics, each of these USD amounts below is equal in terms of what it could buy at the time:

Dollar inflation: 1830-2016
Year Dollar Value Inflation Rate
1830 \$58,000,000.00 -1.08%
1831 \$54,847,826.09 -5.43%
1832 \$54,217,391.30 -1.15%
1833 \$52,956,521.74 -2.33%
1834 \$54,217,391.30 2.38%
1835 \$55,478,260.87 2.33%
1836 \$58,630,434.78 5.68%
1837 \$60,521,739.13 3.23%
1838 \$58,630,434.78 -3.12%
1839 \$58,630,434.78 0.00%
1840 \$54,847,826.09 -6.45%
1841 \$54,847,826.09 0.00%
1842 \$51,695,652.17 -5.75%
1843 \$46,652,173.91 -9.76%
1844 \$47,282,608.70 1.35%
1845 \$47,913,043.48 1.33%
1846 \$48,543,478.26 1.32%
1847 \$51,695,652.17 6.49%
1848 \$49,804,347.83 -3.66%
1849 \$48,543,478.26 -2.53%
1850 \$49,173,913.04 1.30%
1851 \$48,543,478.26 -1.28%
1852 \$48,543,478.26 0.00%
1853 \$48,543,478.26 0.00%
1854 \$52,956,521.74 9.09%
1855 \$54,847,826.09 3.57%
1856 \$53,586,956.52 -2.30%
1857 \$54,847,826.09 2.35%
1858 \$51,695,652.17 -5.75%
1859 \$52,326,086.96 1.22%
1860 \$52,326,086.96 0.00%
1861 \$55,478,260.87 6.02%
1862 \$63,673,913.04 14.77%
1863 \$79,434,782.61 24.75%
1864 \$98,978,260.87 24.60%
1865 \$102,760,869.57 3.82%
1866 \$100,239,130.43 -2.45%
1867 \$93,304,347.83 -6.92%
1868 \$89,521,739.13 -4.05%
1869 \$85,739,130.43 -4.23%
1870 \$82,586,956.52 -3.68%
1871 \$76,913,043.48 -6.87%
1872 \$76,913,043.48 0.00%
1873 \$75,652,173.91 -1.64%
1874 \$71,869,565.22 -5.00%
1875 \$69,347,826.09 -3.51%
1876 \$67,456,521.74 -2.73%
1877 \$66,195,652.17 -1.87%
1878 \$63,043,478.26 -4.76%
1879 \$63,043,478.26 0.00%
1880 \$64,304,347.83 2.00%
1881 \$64,304,347.83 0.00%
1882 \$64,304,347.83 0.00%
1883 \$63,673,913.04 -0.98%
1884 \$61,782,608.70 -2.97%
1885 \$61,152,173.91 -1.02%
1886 \$59,260,869.57 -3.09%
1887 \$59,891,304.35 1.06%
1888 \$59,891,304.35 0.00%
1889 \$58,000,000.00 -3.16%
1890 \$57,369,565.22 -1.09%
1891 \$57,369,565.22 0.00%
1892 \$57,369,565.22 0.00%
1893 \$56,739,130.43 -1.10%
1894 \$54,217,391.30 -4.44%
1895 \$52,956,521.74 -2.33%
1896 \$52,956,521.74 0.00%
1897 \$52,326,086.96 -1.19%
1898 \$52,326,086.96 0.00%
1899 \$52,326,086.96 0.00%
1900 \$52,956,521.74 1.20%
1901 \$53,586,956.52 1.19%
1902 \$54,217,391.30 1.18%
1903 \$55,478,260.87 2.33%
1904 \$56,108,695.65 1.14%
1905 \$55,478,260.87 -1.12%
1906 \$56,739,130.43 2.27%
1907 \$59,260,869.57 4.44%
1908 \$58,000,000.00 -2.13%
1909 \$57,369,565.22 -1.09%
1910 \$59,891,304.35 4.40%
1911 \$59,891,304.35 0.00%
1912 \$61,152,173.91 2.11%
1913 \$62,413,043.48 2.06%
1914 \$63,043,478.26 1.01%
1915 \$63,673,913.04 1.00%
1916 \$68,717,391.30 7.92%
1917 \$80,695,652.17 17.43%
1918 \$95,195,652.17 17.97%
1919 \$109,065,217.39 14.57%
1920 \$126,086,956.52 15.61%
1921 \$112,847,826.09 -10.50%
1922 \$105,913,043.48 -6.15%
1923 \$107,804,347.83 1.79%
1924 \$107,804,347.83 0.00%
1925 \$110,326,086.96 2.34%
1926 \$111,586,956.52 1.14%
1927 \$109,695,652.17 -1.69%
1928 \$107,804,347.83 -1.72%
1929 \$107,804,347.83 0.00%
1930 \$105,282,608.70 -2.34%
1931 \$95,826,086.96 -8.98%
1932 \$86,369,565.22 -9.87%
1933 \$81,956,521.74 -5.11%
1934 \$84,478,260.87 3.08%
1935 \$86,369,565.22 2.24%
1936 \$87,630,434.78 1.46%
1937 \$90,782,608.70 3.60%
1938 \$88,891,304.35 -2.08%
1939 \$87,630,434.78 -1.42%
1940 \$88,260,869.57 0.72%
1941 \$92,673,913.04 5.00%
1942 \$102,760,869.57 10.88%
1943 \$109,065,217.39 6.13%
1944 \$110,956,521.74 1.73%
1945 \$113,478,260.87 2.27%
1946 \$122,934,782.61 8.33%
1947 \$140,586,956.52 14.36%
1948 \$151,934,782.61 8.07%
1949 \$150,043,478.26 -1.24%
1950 \$151,934,782.61 1.26%
1951 \$163,913,043.48 7.88%
1952 \$167,065,217.39 1.92%
1953 \$168,326,086.96 0.75%
1954 \$169,586,956.52 0.75%
1955 \$168,956,521.74 -0.37%
1956 \$171,478,260.87 1.49%
1957 \$177,152,173.91 3.31%
1958 \$182,195,652.17 2.85%
1959 \$183,456,521.74 0.69%
1960 \$186,608,695.65 1.72%
1961 \$188,500,000.00 1.01%
1962 \$190,391,304.35 1.00%
1963 \$192,913,043.48 1.32%
1964 \$195,434,782.61 1.31%
1965 \$198,586,956.52 1.61%
1966 \$204,260,869.57 2.86%
1967 \$210,565,217.39 3.09%
1968 \$219,391,304.35 4.19%
1969 \$231,369,565.22 5.46%
1970 \$244,608,695.65 5.72%
1971 \$255,326,086.96 4.38%
1972 \$263,521,739.13 3.21%
1973 \$279,913,043.48 6.22%
1974 \$310,804,347.83 11.04%
1975 \$339,173,913.04 9.13%
1976 \$358,717,391.30 5.76%
1977 \$382,043,478.26 6.50%
1978 \$411,043,478.26 7.59%
1979 \$457,695,652.17 11.35%
1980 \$519,478,260.87 13.50%
1981 \$573,065,217.39 10.32%
1982 \$608,369,565.22 6.16%
1983 \$627,913,043.48 3.21%
1984 \$655,021,739.13 4.32%
1985 \$678,347,826.09 3.56%
1986 \$690,956,521.74 1.86%
1987 \$716,173,913.04 3.65%
1988 \$745,804,347.83 4.14%
1989 \$781,739,130.43 4.82%
1990 \$823,978,260.87 5.40%
1991 \$858,652,173.91 4.21%
1992 \$884,500,000.00 3.01%
1993 \$910,978,260.87 2.99%
1994 \$934,304,347.83 2.56%
1995 \$960,782,608.70 2.83%
1996 \$989,152,173.91 2.95%
1997 \$1,011,847,826.09 2.29%
1998 \$1,027,608,695.65 1.56%
1999 \$1,050,304,347.83 2.21%
2000 \$1,085,608,695.65 3.36%
2001 \$1,116,500,000.00 2.85%
2002 \$1,134,152,173.91 1.58%
2003 \$1,160,000,000.00 2.28%
2004 \$1,190,891,304.35 2.66%
2005 \$1,231,239,130.43 3.39%
2006 \$1,270,956,521.74 3.23%
2007 \$1,307,156,086.96 2.85%
2008 \$1,357,345,000.00 3.84%
2009 \$1,352,515,869.57 -0.36%
2010 \$1,374,700,869.57 1.64%
2011 \$1,418,093,695.65 3.16%
2012 \$1,447,440,434.78 2.07%
2013 \$1,468,641,956.52 1.46%
2014 \$1,492,466,086.96 1.62%
2015 \$1,494,237,608.70 0.12%
2016 \$1,513,087,608.70 1.26%
2017 \$1,545,321,739.13 2.13%
2018 \$1,583,841,304.35 2.49%
2019 \$1,611,753,804.35 1.76%
2020 \$1,631,638,768.12 1.23%
2021 \$1,743,713,260.87 6.87%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 180 more rows

This conversion table shows various other 1830 amounts in 2016 dollars, based on the 2,508.77% change in prices:

Conversion: 1830 dollars in 2016
Initial value Equivalent value
\$1 dollar in 1830 \$26.09 dollars in 2016
\$5 dollars in 1830 \$130.44 dollars in 2016
\$10 dollars in 1830 \$260.88 dollars in 2016
\$50 dollars in 1830 \$1,304.39 dollars in 2016
\$100 dollars in 1830 \$2,608.77 dollars in 2016
\$500 dollars in 1830 \$13,043.86 dollars in 2016
\$1,000 dollars in 1830 \$26,087.72 dollars in 2016
\$5,000 dollars in 1830 \$130,438.59 dollars in 2016
\$10,000 dollars in 1830 \$260,877.17 dollars in 2016
\$50,000 dollars in 1830 \$1,304,385.87 dollars in 2016
\$100,000 dollars in 1830 \$2,608,771.74 dollars in 2016
\$500,000 dollars in 1830 \$13,043,858.70 dollars in 2016
\$1,000,000 dollars in 1830 \$26,087,717.39 dollars in 2016

## Inflation by Country

Inflation can also vary widely by country. For comparison, in the UK £58,000,000.00 in 1830 would be equivalent to £6,079,454,545.45 in 2016, an absolute change of £6,021,454,545.45 and a cumulative change of 10,381.82%.

Compare these numbers to the US's overall absolute change of \$1,455,087,608.70 and total percent change of 2,508.77%.

## Inflation by Spending Category

CPI is the weighted combination of many categories of spending that are tracked by the government. Breaking down these categories helps explain the main drivers behind price changes. This chart shows the average rate of inflation for select CPI categories between 1830 and 2016.

Compare these values to the overall average of 1.77% per year:

Category Avg Inflation (%) Total Inflation (%) \$58,000,000 in 1830 → 2016
Food and beverages 4.07 168,203.37 97,615,953,257.28
Housing 4.31 258,243.55 149,839,260,674.61
Apparel 2.09 4,627.32 2,741,843,879.21
Transportation 3.29 40,831.56 23,740,305,973.14
Medical care 4.82 640,181.71 371,363,394,537.75
Recreation 1.11 673.05 448,371,345.56
Education and communication 2.14 4,997.62 2,956,618,074.95
Other goods and services 5.21 1,274,469.33 739,250,213,953.89

The graph below compares inflation in categories of goods over time. Click on a category such as "Food" to toggle it on or off:

For all these visualizations, it's important to note that not all categories may have been tracked since 1830. This table and charts use the earliest available data for each category.

## How to Calculate Inflation Rate for \$58,000,000, 1830 to 2016

Our calculations use the following inflation rate formula to calculate the change in value between 1830 and 2016:

CPI in 2016 CPI in 1830
×
1830 USD value
=
2016 USD value

Then plug in historical CPI values. The U.S. CPI was 9.2 in the year 1830 and 240.007 in 2016:

240.0079.2
×
\$58,000,000
=
\$1,513,087,608.70

\$58,000,000 in 1830 has the same "purchasing power" or "buying power" as \$1,513,087,608.70 in 2016.

To get the total inflation rate for the 186 years between 1830 and 2016, we use the following formula:

CPI in 2016 - CPI in 1830CPI in 1830
×
100
=
Cumulative inflation rate (186 years)

Plugging in the values to this equation, we get:

240.007 - 9.29.2
×
100
=
2,509%

Politics and news often influence economic performance. Here's what was happening at the time:

• The Republic of Ecuador is founded.,Juan Jose Flores is its first president.
• U.S. Congress authorizes the mass removal of native Indians from the eastern states to the western prairie.
• France begins colonization in Algeria.
• The US Railroad opens its first station in Baltimore

## Data Source & Citation

Raw data for these calculations comes from the Bureau of Labor Statistics' (CPI), established in 1913. Inflation data from 1665 to 1912 is sourced from a historical study conducted by political science professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page: “\$58,000,000 in 1830 → 2016 | Inflation Calculator.” Official Inflation Data, Alioth Finance, 2 Dec. 2021, https://www.officialdata.org/us/inflation/1830?amount=58000000&endYear=2016.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

in2013dollars.com is a reference website maintained by the Official Data Foundation.