What $100 in 2020 was worth — measured in gold

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

56.2%

of the US dollar's value, gone — measured in gold, since 2020.
It now takes 2.3× more dollars to buy the same ounce.

In 2020, $100 bought 0.06 oz of gold at $1,770/oz. Held as metal, that same money is worth $228 at today's gold price of $4,043/oz (spot as of 2026-08-02).

Same $100. Three rulers.

Measure	$100 from 2020, today	Multiple
Official story — CPI-U (BLS)	$129	1.3×
Money created — M2 money supply	$130	1.3×
In gold — honest weight, valued today	$228	2.3×

The gap between 1.3× (CPI) and 1.3× (M2) is official inflation understating the money actually created. The gap between 1.3× and 2.3× (gold) is the flight to hard money — gold outrunning even the printing.

2020 in the fiat story

COVID: M2 grew roughly 40% in two years, the fastest peacetime expansion in the record. The word used was "transitory." The three rulers on this site diverged faster in these two years than in any comparable window since the seventies.

Try your own numbers

The In Gold calculator runs any amount and any year — USD from 1913, or see 2020 in AUD.

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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
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