Do you Know how Much 10 gms Gold Used to Cost in 1959? Decades old Bill Takes Internet by Storm

New Delhi: The old gold bill of 1959 has gone viral on the Internet and made a lot of buzz among netizens. They have started comparing the rates of that time 1gm of gold to contemporary’s petrol and diesel and even choclates. Gold used to be way cheaper than today when inflation makes it manifold times pricer.

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The old picture of the gold bill of 1959 is reportedly belonged to a goldsmith of Maharshtra. The cost of 10 gms of gold was mentioned in the bill as Rs 113, which roughly infers the rate of one gram gold to mere Rs 10 rupees. In today’s times, some choclates are costlier than Rs 10 rupees.

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The bill, which is dated March 3, 1959, and belonged to a store in Maharashtra named Vaman Nimbaji Ashtekar, according to the viral image.

These times the cost of 10 gm of gold would amount around Rs 50000 which is remarkably very high. So 1 gm gold costs about Rs 5000. Netizens say that Rs 100 of that time is equiavalent to Rs 5000 of now.    

An IFS Officer Shares an old Wheat Bill

Time when wheat used to be at 1.6 rupees per kg. The wheat crop my grandfather sold in 1987 to Food Corporation of India. pic.twitter.com/kArySiSTj4 — Parveen Kaswan, IFS (@ParveenKaswan) January 2, 2023

An IFS Officer Parveen Kaswan earlier shared an old Wheat bill when the grain used to cost about Rs 1.6 per kg. The viral bill belonged to 1987 when IFS officer’s grandfather sold wheat to food corporation of India. He further said that his grandfather had that habit of keeping all the records intact.