How much would 4 cents in 1929, be in present date?

Question

my great grandfather said that he had lost 3 checks containing 4 cents, he had placed them in the family bible and the house burned down. the occurrence was in 1929.

Answer 1

In todays dollars, 4 cents in 1929 would be the same as 1 dollar 68 cents. Gold in 1929 was 20.87 an ounce. today its 857.00 an ounce so doing the math is simple. 4 cents in gold in 1929 was 0.001966 ounces of gold. Gold today is 857.00 an ounce so that 0.001966 ounce of gold in todays price would be 1.68 US dollars.  

Answer 2

The annual CPI in 1929 was 17.10

The CPI in June of 2008 was 218.815

Calculation:

0.04 * (218.815/17.10) = 0.511847953

This means that what cost 4 cents in 1929 would cost 51 cents in 2008.