How Much Was $420 Worth in 1923?
Harrison Ford's TV Show Helps Us Understand Inflation
Imagine winning two fights and walking away with $420. Sounds like pocket change today, right? But in 1923, that was serious money—enough to buy a brand-new Ford Model T and still have cash left over.
This exact moment plays out in the TV series 1923 (starring Harrison Ford and Helen Mirren), where Spencer wins two fights and gets paid $420. This raises an interesting economic question
💰 How much would $420 from 1923 be worth today?
Using an inflation calculator, we can adjust that sum for modern times. And the answer?
👉 According to the US government, $420 in 1923 would be worth over $7,800 today (as of January 2025).
That’s right—winning that fight was like earning nearly $8,000 in one night!
Understanding Inflation Over Time
This simple comparison highlights a crucial concept in economics: inflation erodes the purchasing power of money over time. Here’s how it plays out:
$1 in 1923 is equivalent to nearly $19 today
Prices and wages in historical settings often sound low to modern ears, but adjusting for inflation reveals just how significant they were
The economic world of 1923 was vastly different from today’s, yet the core principles—money, wages, and purchasing power—remain just as relevant
Why This Matters
If you’re watching 1923, old movies, or reading history, knowing how inflation works helps make sense of what things actually cost in real (inflation-adjusted) terms.