How much or what could you buy for a penny in 1903?

Question

Yesterday morning, I was walking around my vehicle to the backseat to unbuckle my son from his carseat. Just as I was opening the door, I looked down and noticed a penny. It caught my eye as a little odd so I bent down and picked it up. The strange this is that is was a USA 1903 Indian Head penny in what I would call very good condition! Talk about a lucky penny!

It started to make me wonder something. What was the purchase power of that one penny in 1903? My grandfather was born in 1905, and I remember strories of how much candy and goodies he could get for a penny when he was a boy. Since there isn't much information out there on the buying power of a penny in 1903, I thought I would bring it here.

Answer 1

Not much. The term "penny candy" came into being because a penny would buy a stick of peppermint candy or licorice. Eggs were 12 cents a dozen so a penny would buy one egg.

Answer 2

Well a lot of small stuff, like candy or food. Just to give you a reference, back in 1906 when the first Harley Davidson came out, it cost $6.

Answer 3

$100

Answer 4

When I taught civics in Jr. High, this website was most helpful in calculating worth over a period of several centuries.