Still A Bargain
In 1868, the US wrote Russia a check for $7.2 million to buy Alaska. The territory was called Seward's Icebox, after the Secretary of State who negotiated the deal, and he was ridiculed for nearly 30 years. What was decried as folly turned to fortune when gold was found and oil only increased the land's value. But what kind of deal was it? Seward got the land for about 2 cents an acre. If Seward bought the land today and spent the same money, $126 million in 2015 dollars, Alaska would cost just over 33 cents an acre. Of course, using different measurements gives a different answer.
Or with $126 million you could have gotten L’homme au doigt (Pointing Man). But you'd need an extra $15 million in fees.
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