What $100 in 1984 was worth — measured in gold

The price of gold didn't get more expensive. The value of the Australian dollar fell.

92.9%

of the Australian dollar's value, gone — measured in gold, since 1984.
It now takes 14.1× more dollars to buy the same ounce.

In 1984, $100 bought 0.24 oz of gold at $410/oz. Held as metal, that same money is worth $1,406 at today's gold price of $5,761/oz (spot as of 2026-08-02).

Same $100. Three rulers.

Measure	$100 from 1984, today	Multiple
Official story — AU CPI (ABS via FRED)	$383	3.8×
Money created — M3 broad money	$2,952	29.5×
In gold — honest weight, valued today	$1,406	14.1×

The gap between 3.8× (CPI) and 29.5× (M3) is official inflation understating the money actually created. The gap between 29.5× and 14.1× (gold) is the flight to hard money — gold outrunning even the printing.

1984 in the fiat story

The post-float eighties: financial deregulation, an entrepreneurial credit boom, and 17% mortgage rates by decade's end. Broad money grew at rates the CPI never fully admitted.

Try your own numbers

The In Gold calculator runs any amount and any year — AUD from 1971, or see 1984 in USD.

← $100 in 1983 $100 in 1985 →

Method. Gold weight = amount ÷ the gold price of that year; "today" figures rebase the same amount by CPI, money supply, and gold spot. Deterministic — no estimates, no models, no AI in the number path. Annual averages. Sources: FRED CPIAUCNS, FRED M2SL, MeasuringWorth, GoldAPI live spot. Not financial advice. In Gold — the calculator · API
1971 · The Australian story · Methodology · FAQ · Glossary · USD years · AUD years